Signature Bank, N.A.

News & Education

At Signature Bank, your security is our top priority. We understand the importance of protecting your sensitive information, especially during the busy holiday season. To help keep you safe, we’re sharing valuable insights on common cyber threats and effective strategies to protect yourself from scams.

 

As the holidays approach, it’s crucial to remain vigilant, as scams often increase during this time. One prevalent threat is fake online stores – also known as lookalike or fraudulent product sites.

 

Be Aware of Red Flags

🚩 Unbelievably Low Prices: Deeply discounted prices on popular items may indicate a scam.

🚩 Suspicious Ads: Be cautious of social media ads linking to questionable sites.

🚩 Lack of Contact Info: Poor website design or missing contact information can be warning signs.

🚩 Limited Payment Options: Avoid sites with few payment methods and no legitimate customer reviews.

🚩 Urgent Offers: Be wary of unclear return policies and high-pressure sales tactics.

 

During the 2022 holiday season, the FBI reported nearly 12,000 victims of non-payment or non-delivery scams, resulting in over $73 million in losses. In 2023, these scams cost consumers more than $281 million, according to the FBI’s Internet Crime Complaint Center (IC3).

 

 

Tips to Protect Yourself

Practice Cyber Hygiene

💡 Think Before You Click: Avoid clicking on suspicious links or attachments; phishing scams can steal your personal information or introduce malware.

💡 Go to the Source: Don’t reply to texts or emails about account lockouts or claims of suspicious orders. Instead, go directly to the official website or app to check your account.

💡 Verify Contact Info: If a company requests sensitive information, independently verify their contact details before responding.

 

Research Before You Buy

💡 Check Website Security: Ensure websites use “https” in their URLs and check for customer reviews before making purchases.

💡 Review Feedback: Verify buyers and sellers on marketplaces by reviewing feedback ratings and being cautious with unfamiliar accounts.

 

 

Stay vigilant and informed to protect yourself this holiday season.

 

Should you have any questions or concerns, please do not hesitate to contact us at 419-841-7773.

 

Sources:

  • Thomson Reuters (November 30, 2023). Risk Fraud & Compliance. Check the Halls: As fraud around the holidays increases, there is possible relief in sight.
  • Federal Bureau of Investigation (2023). How We Can Help You. Scams and Safety. Common Frauds and Scams: Holiday Scams.
  • United States Department of Justice (December 5, 2023). U.S. Attorney's Office Warns About Common Holiday Scams.

The above referenced sources are provided as a courtesy. Signature Bank does not endorse or control the content of these sources or websites.