The American Bankers Association Foundation and the Federal Trade Commission today released an infographic with tips and information to help consumers protect themselves when using mobile payment apps and services. As the popularity of person-to-person payment apps and services has soared, fraudsters are increasingly attempting to use the services to scam victims.
“It’s easier and faster than ever to send money to friends and family, but unfortunately that speed and convenience also attracts criminals,” said Paul Benda, senior vice president, operational risk and cybersecurity at ABA. “Remember that your bank will never call, text or email you and ask for personal information or direct you to send money to anyone, including yourself. If anything sounds suspicious or unusual, trust your gut and contact your bank through a trusted channel like your mobile app or the number on the back of your debit card.”
In the infographic, the ABA Foundation and the FTC provide three tips to help consumers avoid sending money to scammers:
The ABA Foundation and the FTC also suggest taking the following steps to protect your account:
If you are the victim of a mobile payment app scam, you should report it to the payment app or service, tell your financial institution, and report it to the FTC at ReportFraud.ftc.gov.
The infographic, developed jointly by the ABA Foundation and the FTC, is part of an ongoing series of infographics aimed at educating consumers about scams and how to protect themselves. The other ABA Foundation and FTC infographics cover topics including online dating scams, fake check scams, phishing scams, money mule scams, imposter scams and government imposter scams.
To view the mobile payment apps and services infographic, click here: https://www.aba.com/news-research/research-analysis/how-to-safely-use-mobile-payment-apps-and-services.
To learn more about the banking industry’s efforts to raise consumer awareness around the phishing threat including additional tips on spotting scams visit BanksNeverAskThat.com.
The American Bankers Association is the voice of the nation’s $23.7 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $19.7 trillion in deposits and extend $11.2 trillion in loans.
Through its leadership, partnerships, and national programs, ABA’s Community Engagement Foundation (dba ABA Foundation), a 501(c)3, helps bankers provide financial education to individuals at every age, elevate issues around affordable housing and community development, and achieve corporate social responsibility objectives to improve the well-being of their customers and their communities.
Click Here For Original Source.
US News By Isabel Keane Published April 23, 2024, 11:16 a.m. ET An Illinois widow…
The search for love and financial security in our increasingly online world has taken a…
A federal judge sentenced a former Army service member to prison for running a romance…
An Illinois widow found dead hundreds of miles from home had been scammed out of…
A common scan that is regularly deployed against tourists in Paris, France can see people…
Experts and police are warning that so-called "sextortion" scams, whereby a scammer will dupe a…