Awareness and Reporting
Artisans' Bank will never ask you to confirm your account number, PIN, password, or any other personal information via e-mail. This is part of our broader commitment to protecting our customers from theft and fraud. We encourage you to remain vigilant for suspicious communications, as criminals often use deceptive tactics to gain access to sensitive information. By prioritizing both advanced security measures and customer awareness, we work together to reduce the risk of identity theft, unauthorized account access, and fraudulent activity.
Identity Theft
Identity theft is a serious problem worldwide. It is a form of stealing someone's identity without their knowledge. The thief pretends to be someone else by assuming your identity. They use your personal information to benefit themselves, such as your name, social security number or credit card number. Identity theft is the fastest growing crime with over 12 million victims a year and over $50 billion in damages.
For more information visit the Federal Trade Commission.
Common Types of Fraud
Check Fraud is a popular type of fraud occurring more today due to the capabilities of technology. If a fraudster gets hold of your checks, they could make duplicates or alter them for their benefit. Also, be cautious when depositing the checks of unknown individuals into your account. If a check is made out for more money than is owed to you, never make any arrangement to deposit a check and send the surplus elsewhere; this is a sure sign of a scam. Unless you have an ongoing business relationship with someone, have your bank verify that a check has been cleared before you send goods or make services available.
Credit/Debit Card Fraud is a wide-ranging term for theft and fraud committed using a credit/debit card or any similar payment mechanism as a fraudulent source of funds in a transaction. Some common types of methods of committing credit/debit card fraud involve: Stolen Cards, Account Takeover, Application Fraud, Card Not Present Transactions, Card Skimming Machines, and Illegitimate Charge-backs.
Loan Fraud occurs when unknown individuals take out unauthorized loans in your name using false documents and possibly forging your signature. In order to catch this kind of fraud you should check your credit report to ensure that all liabilities are legitimate.
Auctions, Sweepstakes & Lottery Fraud - Fraud perpetrated under the guise of Auctions, Sweepstakes or Lotteries gets the attention of many people because of the large sum of money they hope to collect as winnings. However, most of these are scams with fraudsters ready to take your money. Some tips to help you protect your identity and avoid these types of fraud are:
- You didn't enter to win or your email address was drawn at random.
- You are required to pay in advance or send bank information to receive your winnings.
- The Game is registered in another country. Games are usually limited to the citizens of the country in which they are registered.
- Gaming Commission is non-existent. Google the name of the gaming Commission or get a second opinion.
- Check received is from an individual and not an organization.
- Request that you wire money back to pay for fees on your winnings.
- You are promised to make extra money working at home in return for using your bank account to send or receive money.
Investment Fraud is probably one of the hardest to detect on your own. However, if it sounds too good to be true it probably is. If ever you are in doubt, seek a second opinion of an established, certified and registered investment professional. Always independently verify the license and registration of an investment company or representative before agreeing to the business proposition. Below are some additional tips to help you identify risk factors:
- Company not known, little public information or incorporated for a short time
- No Risk with High Yield not consistent with market conditions
- Income based on level, up line or down line
- Unregistered Products being sold by Unlicensed or Independent Individuals
- Requires signing up or sharing personal information of friends and family
- Complex Strategies that cannot be explained
- Off-Shore opportunities outside US jurisdiction
- Missing or No Documentation
Common Types of Digital Fraud
Phishing is an attempt to gain information such as usernames, passwords and credit card details by masquerading as a trustworthy entity by email. This is one of the primary methods a fraudster will use to compromise your personal information. The email will cite an invented scenario which requires haste and includes dire consequences if requests aren't complied with in a short time period. The scenario will either persuade you to divulge sensitive information, send money to an unknown party or click a link that will initiate viruses that give criminals access to your computer.
Cryptocurrency - From the widely popular Bitcoin to the meme-inspired Dogecoin, the process of purchasing and selling cryptocurrency has become increasingly accessible. However, this newfound accessibility also brings with it significant risks and potential dangers, including market volatility, security vulnerabilities, and the potential for fraudulent activities. Therefore, it's crucial for individuals to exercise caution and thoroughly educate themselves before engaging in cryptocurrency transactions.
Dangers and risks associated with cryptocurrencies include:
- Cybertheft: Financial losses from theft is often untraceable and unrecoverable.
- Hackers: Scams and security breaches can result in financial losses and personal information exposure.
- Decentralization: While secure, the complexity of using and storing crypto assets can be hazardous.
- Regulatory Uncertainty: The lack of clear regulations poses risks.
- Extreme Volatility: Prices can swing significantly over short periods.
- Losing Access to Wallets: Losing private keys can result in loss of funds.
- Market Manipulation: Crypto may be susceptible to manipulation.
Smishing is similar to phishing, but carried out via text messages. Cell Phones and other portable devices are targeted as primary channels for transmitting viruses and other methods of stealing your personal information.
Vishing is the same as phishing, but carried out over the phone. You may either get a direct phone call from a fraudster falsely representing an organization or individual or you could receive an email, letter or voicemail with a return phone number. To protect yourself, contact the organization or individual using the phone number that is publicly listed. Never respond directly to the number presented. Artisans' Bank will never ask you to disclose or confirm your password, PIN, or full Social Security Number.
Pharming/Spoofing is the act of redirecting a legitimate URL to a fake website in order to gain access to the personal information of a large number of people. If the website layout, content or colors look different than you are used to seeing or there are many spelling and grammatical errors you may be a victim of pharming. Do not enter your user name and password until you are able to independently confirm that the website is legitimate.
Reporting Fraud
Artisans' Bank will never ask you to confirm your account number, PIN, password or any other personal information via e-mail. If you are concerned that you have received fraudulent e-mail, disclosed confidential information or have questions about online security, please contact our customer service department at 302-658-6881 or 1-800-282-8255.
As you know, crimes like identity theft, computer hacking, telemarketing fraud and email fraud are unfortunately all too common today. One of the ways individuals carry out such activities is by posing as a representative of a company you currently do business with.
At Artisans' Bank, we want you to know that the only reason we would contact you seeking any type of personal or financial information would be if you were in the process of applying for a loan or opening an account with us, or if we were attempting to validate an extraordinary transaction on one of your accounts. If you ever question the legitimacy of a request for your personal or financial information made by an individual claiming to represent Artisans' Bank, please contact us immediately at 302-658-6881 or 1-800-282-8255.
It is important to check your credit report on a periodic basis as part of your ongoing actions to protect yourself from identity theft. This will allow you to validate the accuracy of your information and protect against potential fraudulent activity on your accounts. If you notice any inconsistencies on your report, you only need to notify one agency and they will share the information with the other two credit bureaus.
Reporting Identity Theft
Contact your local law enforcement agency and report the incident immediately. You can contact one of the three major credit bureaus to place an alert on your credit history if you are a victim of Identity Theft:
- Equifax - To report fraud, call: 1-800-525-6285 and write: P.O. Box 740241, Atlanta, GA 30374-0241
- For the Auto Disclosure Line, call 1-800-685-1111 to request a copy of your report.
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Experian - To report fraud, call: 1-888-EXPERIAN (397-3742) and write: P.O. Box 9530, Allen TX 75013
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Trans Union - To report fraud, call: 1-800-680-7289
and write: Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92634
Additionally, you should also report identity theft to your local law enforcement agency and to the Federal Trade Commission (FTC). You can contact the FTC at 1-877-438-4338.
Suspicious Activity
Home Warranty Letters
These letters are not only deceptive, but they could also be targeting your personal information.
We were recently contacted by a concerned customer who received a Home Warranty letter and was confused about whether or not the letter came from Artisans’ Bank, or if it was a scam. The letter is not from Artisans’ Bank and is in no way endorsed by Artisans’ Bank.
We are unclear about the intentions of this letter, but we do ask that you do not respond, as there is a chance that it could put your personal information at risk.
What happens if I respond to the letter? By calling the number, you could get a real person or an automated response. Regardless, make sure you DO NOT give your personal information. Doing so could cause unwanted consequences including identify theft. If you are interested in a home warranty, reach out to a reputable company or your mortgage provider to discuss your options.
How did they get my information? Artisans’ Bank does not sell your information. Some information surrounding a purchase of a home becomes public record. These public files are used by companies to find recent home buyers. Be cautious when replying to any offer from a company that you have not researched.
What should I do if I get this letter? We advise you to discard the letter and not respond.
Missing Mail
If you receive regular notices by mail, for example your monthly bills or bank statements, be wary if some are missing or you suddenly stop receiving them. This could be a sign that your mailbox has been compromised or tampered with by a fraudster.
Suspicious Transactions on Statements
When reviewing your monthly bank statements, if there are payments to any vendor names you don't readily recognize, contact your bank to verify that the payment is legitimate. Check to ensure paid amounts are correct, cancelled or refunded transactions are removed and there are no duplicate transactions listed on your statement.
Suspicious Phone Calls
Be skeptical if you receive phone calls to send money for any reason, to update or verify personal information or notifying you that you won a contest you didn't enter. Be especially skeptical if the call quality is poor, the caller speaks broken English with an unusual accent and you are asked to act with urgency. Before acting, get a second opinion or try to verify the legitimacy of the request independently of the information provided on the phone call.
Credit Cards or Loans you are not aware of.
If you realize that there are credit cards, loans or purchases you didn't authorize, your identity may have been compromised. Contact the issuing companies directly to notify them of the error and try to identify the source of the security breach. We recommend you check your credit history with one of the three major credit bureaus; Experian, Equifax or Trans Union, on an annual basis for inconsistencies to help prevent fraud and /or identity theft.
The Artisans' Bank Security Department is here to help assist you in preventing you from becoming a victim of fraud. If you believe you have become a victim of fraud, contact your local police department and our Security Department at 302-884-6571.
Your Cybersecurity Is Our Priority!
Hackers and cyber attackers are finding new ways to creep into your accounts and life, we make it a priority to stay ahead of the curve to keep you and your finances safe.