Don’t Fall for These Five Cybersecurity Myths According to a recent Microsoft study, last year saw more than 600 million cyberattacks per day. While cybercriminals are becoming more and more advanced, a lot of these attacks can be attributed to individuals relying on outdated or incorrect assumptions about cybersecurity. That said, here are some common myths and misconceptions of cybersecurity attacks. 1.… Read More
Smishing Scams Are Surging: Here’s What You Should Know According to the FTC, consumers reported losing $470 million to text message scams in 2024, a fivefold increase from 2020. The rise of text-message-based scams, known as smishing, has quickly become one of the fastest-growing threats to bank customers. With the Federal Bureau of Investigations (FBI) and Federal Trade Commission (FTC) issuing urgent warnings, now… Read More
How to Spot Banking Scams: 5 Red Flags You Shouldn’t Ignore Digital banking has made everyday transactions more convenient, but it has also given fraudsters new ways to target customers through email, text, and phone calls. An estimated 3.4 billion phishing emails are sent daily, often using realistic branding and convincing messages to trick individuals into sharing sensitive information. By understanding what banking scams look like,… Read More
Is Your Business Safe from Ransomware? 6 Ways to Strengthen Your Defenses In 2024, the FBI’s IC3 (Internet Crime Complaint Center) reported a total loss of $16.6 billion due to cyber-related scams. In the same year, the largest known cyber ransom in history, $75 million, was paid for an extortion attack on a Fortune 50 company. This growing security concern was the topic of FirstBank’s recent “Decrypting… Read More
Don’t Click That Link: 4 Common Text Scams to Watch Out For Text message scams, also known as “phishing” or “smishing,” are fraudulent texts designed to trick victims into sharing personal information or clicking dangerous links. Scammers often pose as trusted brands or official companies and use urgency to prompt you to act quickly. These scams can result in identity theft, financial loss, and malware infections. Fraudulent… Read More
Elder Financial Abuse: Know the Signs, Help Stop the Crimes Did you know elder financial abuse causes an estimated $28.3 billion in losses each year? This staggering dollar amount highlights a growing crisis affecting some of society’s most vulnerable individuals. Understanding the impact of elder financial abuse is the first step toward prevention and protection. Here’s what you need to know about elder financial abuse… Read More
AI Imposter Scams Are on the Rise Artificial Intelligence (AI) has become a fraudster’s best friend. Thanks to advances in voice cloning technology, fraudsters can now replicate the voices of loved ones or trusted individuals to deceive victims into giving up money or personal information. In fact, these scams have become incredibly widespread; recent studies show that AI voice scams have impacted… Read More
No Hagas Clic en Ese Enlace: 4 Estafas Comunes por Texto que Debes Conocer Los mensajes de texto falsos, conocidos como “phishing” o “smishing”, son estafas que buscan engañarte para que compartas tu información personal o hagas clic en enlaces peligrosos. Quienes estafan se hacen pasar por marcas conocidas o instituciones oficiales, y suelen usar mensajes urgentes para que actúes rápido. Estas estafas pueden causar robo de identidad, pérdidas… Read More
Beware of Text Messages or Calls Appearing from Your Bank The scam. Over the years, there have been a growing number of “spoofing” attempts being made in the financial industry, including on FirstBank customers. Fraudsters are using falsified caller ID numbers — or what appears to be legitimate text messages — to trick FirstBank customers into providing sensitive information. These scammers act as bank representatives… Read More
Money Mule Scams Are on the Rise: Here’s What You Need to Know Did you know social media has become a major playground for money mule scams resulting in a $1.4 billion loss? Money mule scams are a way for criminals to conceal the source of their funds, typically garnered through illegal activities like fraud, identity theft, drug trafficking, and more. One common tactic is recruiting people to… Read More