The Federal Trade Commission (FTC) received reports on over 5.2 million cases of fraud in 2022, with imposter scams accounting for 20% of the total losses incurred – a whopping $2.7 billion in losses reported for this scam alone. Imposter scams generally start with an unsolicited phone call, email, text or social media message from someone impersonating people or organizations you would ordinarily trust. Imposters may ask you to transfer money from your bank, put money on a gift card, or send cryptocurrency, because they know these types of payments can be hard to reverse. Imposter scams come in many varieties including:
Here are some valuable reminders and tips to share with your accountholders:
Warning signs and examples of impersonator scams include:
At Jack Henry™, we’re dedicated to protecting our clients and their accountholders from cyber-crime, identity theft, and fraud. That’s why we’ve implemented multiple layers of security and fraud controls designed to safeguard personal information and funds. Be sure your accountholders are clear: If someone says they’re calling from your bank or credit union, the FTC or another company and demands money or their personal or financial information, that’s a scam. If your bank or credit union ever reaches out to them, they can be sure you won’t ask for personal or financial information, or access codes through email, text, or unsolicited calls.
Learn more about protecting your financial institution and accountholders from risk and fraud using powerful technologies and capabilities from Jack Henry.
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