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Bank industry warns of phishing scams

Don’t get phished, the bank industry warns (File photograph)

The Bermuda Bankers Association is warning people to be aware of phishing scams, often going after the most vulnerable citizens.

Phishing is a type of online or telephone scam that targets consumers by appearing to be from a well-known source such as a local utility company, an internet service provider, a bank, or even friends or relatives.

The consumer is asked to provide personal identifying information which scammers use to open new accounts or invade the consumer’s existing accounts.

Recently, there have been attempts by a scammer claiming to be working for a telephone service provider to get customers to fill out a questionnaire which requests bank account details, PIN numbers and passwords.

To avoid phishing scams, do not respond to e-mails or pop-up messages asking for personal or financial information. Nobody is authorised to ask for your online banking password or PIN number. The association advises people to immediately report such requests to the police.

The organisation also warned that businesses of all sizes are also at risk of phishing scams. The scams can involve fake e-mails that appear to come from a business owner instructing an employee to send money or to give sensitive information to the scammer.

They reminded business owners and leaders to train staff to spot the signs of phishing attacks at least annually.

Over the coming weeks the Bermuda Bankers Association will provide additional information and materials concerning financial fraud via its online portal at www.bermudabankers.org and on social media channels.

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Published March 16, 2023 at 7:55 am (Updated March 16, 2023 at 7:55 am)

Bank industry warns of phishing scams

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