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Behavioral Red Flags of a Scammer

Behavioral Red Flags of a Scammer

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Common Tactics Used by Fraudsters

  • Claiming to be a Long-Time Customer or Member - Fraudsters often claim to be long-time customers or members to create a sense of familiarity and trust, making it more likely that tellers will approve transactions without thorough verification.
  • Using a Stolen Identity - Fraudsters may use stolen identities to pose as legitimate account holders, often with fake identification documents or hacked personal information.
  • Impersonating a Bank Employee or Regulator - Fraudsters might impersonate bank employees or regulators through phishing emails or phone calls, claiming to be from the bank's fraud department and asking tellers to approve transactions.
  • Creating a Sense of Urgency - Fraudsters often insist that a transaction is urgent, creating pressure to approve the transfer quickly without verifying details, claiming financial disaster or critical deadlines.
  • Providing a Convincing Explanation - Fraudsters give believable reasons for the transaction, such as medical emergencies or business expenses, to persuade tellers to approve the transfer without questions.

Signs of Fraud: 12 Red Flags

Discrepancies in Customer or Member Information
  • Multiple accounts with methodical spelling variations on the same name (e.g., William Smith, Will Ian Smith).
  • Multiple accounts with different names using the same contact information.
  • Accounts with inconsistent personal details, such as an invalid social security number.
  • Multiple accounts using minors’ personally identifiable information (PII).
Transactions Inconsistent with Customer’s Profile
  • Point-of-sale (POS) transactions inconsistent with the account holder’s address or typical habits, especially if they occur at wildly varying locations or without time for travel.
  • Payments or received funds that don’t match an account holder’s lifestyle or expected behavior, such as unusually high deposits quickly withdrawn or immediately paid back.
  • Public benefit payments to individuals who do not qualify and whose spending is not on behalf of a legitimate recipient.
  • Repetitive purchase returns, disputes, and/or chargebacks exceeding reasonable activity for the account holder.
Signs the Customer is Being Pressured or Manipulated
  • The account holder says they have to send large or repetitive sums of money to a loved one, especially if the situation is urgent or secretive.
  • The account holder believes they are in personal danger if they do not perform a transaction or make a withdrawal.
  • An account holder appears to be unduly influenced by a third party, such as a new friend, family member, or caretaker, who may be in-person, on the phone, or repeatedly mentioned.
  • The account holder makes repetitive transactions they cannot explain or seem agitated about.



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