For most people, a new year represents new opportunities and a chance to start over. However, for fraudsters, it looks like everything old is new again in 2022 – this includes everything from get-rich-quick schemes, to crypto scams, to romance frauds, and more. But one thing fraudsters will do differently this year is pay closer attention to their victims’ lives.
As younger people join the digital banking system, fraudsters are eager to take advantage of their unfamiliarity with digital banking. While younger people are more tech-savvy than their older counterparts, fraudsters have found several tactics that have proven effective against millennials and Gen Z customers. The latter group is falling for fake check scams at the same rate as senior citizens. Meanwhile, one in five millennial shoppers experienced online fraud during the 2020 holiday shopping season. Fraudsters will also scour these users’ social media accounts for social engineering purposes.
Education remains the most important step financial institutions can take to keep their customers safe. Taking steps to warn customers about all types of fraud threats. When it comes to get-rich-quick schemes, in particular, it pays to remind customers that if an opportunity seems too good to be true, it probably is. Our Frauds, Scams and Cons course is a great opportunity to stay current as well as embrace an obligation to help customers to stay safe and make the most informed choices possible.
Learn more from our recently updated (2022) Frauds, Scams, and Cons course for $99!