Indrani R.’s Post

⚠️ Scam Alert ⚠️ We have received more reports of customers receiving calls or text messages from someone pretending to be a Field & Main Bank representative saying that a temporary hold has been placed on your account. This is a scam. Remember, Field & Main Bank (or any other bank) will never ask for your personal information (Social Security #, PIN #, Debit Card #, Passwords, etc.) via phone, text, or email. Scammers can spoof phone numbers to look like the bank is calling you. If you get such a message or call, contact your bank directly using the local number you have saved. Report the incident to your bank and if you have given out any personal information, be sure to report that as well. #BanksNeverAskThat #StayCyberSafe #FieldandMain

Should Banks be held liable if alerts for withdrawals are not provided to customers? In the instant case, the patron had a Savings Bank Account with the State Bank. Certain monetary transactions underwent through the patron’s account, however no SMS alert was received on the patron’s mobile, even though he had applied for these services from the bank. Upon checking, the patron identified these transactions and filed a complaint with the District Commission for a refund along with compensation. The District Commission noted that since the Bank failed to provide SMS alerts for the withdrawal of money from the patron’s bank account, they were liable for a deficiency in services. They noted that an unscrupulous person had cloned the ATM card or tracked the PIN number of the patron. Failure of the bank to upgrade its system to prevent cloning and hacking displays a deficiency on its part to protect sensitive information and therefore the bank was held accountable for its negligent and deficient service . However, the bank preferred an Appeal before the State Commission. But the State Commission after reflecting on the submissions made by both parties concurred with the judgment of the District Commission and stated that the Bank was legally obligated to send timely messages to the complainant on fraudulent withdrawals made from his bank account and non-observance of such a legal obligation constitutes a deficiency in the eyes of law for which the bank was held accountable. #StateBankofIndia #withdrawals #smsalerts #hacking #cloning #fraud #financialloss #cybercrime #dataprotection #datasecurity #legalupdates #lawonlinkedin #legalknowledge #caseupdates #casehearing #trendingcases

🚨 Beware of Number Spoofing Scams! 🚨 Fraudsters are using clever tactics to trick you into thinking their calls are from your bank. Don't fall for it! Protect your online banking and stay safe from scams. 💡 What is number spoofing? It's when scammers manipulate caller IDs to look like genuine bank numbers. 🔒 How to protect yourself: 1️⃣ Never trust the caller ID—always call back on an official number. 2️⃣ Use a different phone to verify. 3️⃣ Avoid clicking on links from unknown emails or texts. Read our latest blog to learn more and protect yourself from fraud today: https://buff.ly/3XMbICo #FraudPrevention #NumberSpoofing #BankingSecurity #OnlineBanking #Accountants

Real fraudulent and scam calls: In recent times, many individuals have been receiving fraudulent and scam calls, often from impostors posing as government officials, using fake identifications and VOIP calls. I, too, was targeted years back, much like Ms. Shreya Sharma, who had a similar encounter with a hacker. However, I was vigilant when the caller attempted to contact me and requested my OTP. I provided an OTP linked to a closed account and immediately alerted my bank to the situation. The scammer later contacted me, frustrated by the lack of funds, expressing annoyance at my quick thinking, and ultimately regretted his failed attempt. Another situation, unfortunately, my spouse’s account was hacked from China, resulting in a loss of ₹1.25 lakh during an international SWIFT transaction. Despite our efforts, we were unable to recover the amount. Thankfully, I approached the bank for assistance, and they offered help in alternative ways. For everyone’s awareness, I strongly recommend regularly updating your banking passwords and avoiding sharing personal information through any media. If you do forward such information, ensure you delete it promptly. Stay alert and cautious always. Cheers!

𝐃𝐀𝐘 𝟒𝟗 Meet 𝐒𝐚𝐫𝐚𝐡, a diligent bank employee who had been working at a local branch for five years. One day, while reviewing a customer's account, Sarah noticed something unusual. The account, belonging to a new customer named 𝐀𝐥𝐞𝐱, had a large sum of money deposited into it just a week ago. However, the account had been frozen by the bank's system due to some suspicious activity. Sarah's curiosity was piqued. She decided to dig deeper and investigate the account further. After reviewing the account's transaction history, Sarah discovered that the deposited amount was from an unknown source, and there were several attempts to withdraw the money in the following days. The bank's system had flagged the account as a "𝐬𝐮𝐬𝐩𝐞𝐧𝐬𝐞 𝐚𝐜𝐜𝐨𝐮𝐧𝐭" due to the unusual activity. A suspense account is a temporary account used to hold funds that are unclear or disputed, until the issue is resolved. Sarah immediately 𝐞𝐬𝐜𝐚𝐥𝐚𝐭𝐞𝐝 the issue to her supervisor, who contacted the bank's fraud department. After a thorough investigation, it was discovered that Alex's account had been compromised by a cybercriminal, who had deposited the money as part of a money laundering scheme. Thanks to Sarah's diligence and the bank's robust security measures, the issue was resolved, and the 𝐜𝐲𝐛𝐞𝐫𝐜𝐫𝐢𝐦𝐢𝐧𝐚𝐥 was brought to justice. The story highlights the importance of vigilance and attention to detail in detecting and preventing financial crimes. It also showcases the role of suspense accounts in holding disputed or unclear funds until the issue is resolved. #GMAP13 #SuspenseAccount #FinancialCrime #Banking #CyberSecurity #FraudPrevention

Scam Alert: We have received a few reports of customers receiving calls or text messages from someone impersonating a Field & Main Bank representative. As a reminder, Field & Main Bank (or any other bank) will never initiate communication with you (via phone call, text message, email, etc.) and ask you for your personal information, such as your Social Security #, PIN #, Debit Card #, Passwords, etc. Scammers can spoof their phone numbers to make it look like the bank is contacting you. If you receive a message/phone call from your “bank,” hang up and call your bank using the local number you have saved. Report the incident to your bank, and if you have given out any personal information to the scammer, be sure to report that as well. #BanksNeverAskThat #StayCyberSafe #ModernCraftBanking

🚨 Check Fraud Alert: A Growing Concern 🚨 As many Americans continue to rely on paper checks, fraudsters are finding new ways to exploit this outdated method. Scammers are altering checks, quickly depositing them, and withdrawing cash before banks can flag the transactions. 🔍 Key Insights: •Fraud Tactics: Scammers are using social media platforms like Telegram and TikTok to share tips on check fraud. •Bank Responses: Financial institutions are freezing accounts and extending holds on deposits to combat these scams. •Industry Impact: The rapid spread of these fraudulent activities poses a significant challenge for the financial sector. 💳 A Safer Alternative: To protect yourself from fraud, consider switching to single-use credit cards. These cards provide enhanced security for transactions, minimizing the risk of fraud. If you’re interested in learning more about how single-use credit cards can safeguard your finances, feel free to reach out to me! Let’s discuss how to make your transactions safer. Read more about the check fraud issue here: https://lnkd.in/gryYkGBW #CheckFraud #BankingSecurity #SingleUseCards #FraudPrevention #StayInformed

💸 Check Fraud is on the Rise: A Growing Threat to Banks and Consumers 💸 🛑 Despite the rise of digital payments, Americans can’t quit paper checks—and fraudsters are cashing in. Scams involving altered, stolen, or fake checks have skyrocketed 📈, with a 400% increase in check fraud last year, costing financial institutions an estimated $688M 💰. 🕵️♀️ How it works: 1️⃣ Checks are stolen from 📬 mailboxes or bought on illicit marketplaces. 2️⃣ Fraudsters use household chemicals 🧪 to erase details or forge checks. 3️⃣ Checks are deposited at ATMs, exploiting banks’ policies to release funds before verification. 4️⃣ Scammers quickly withdraw 💵 cash or move funds before the fraud is flagged. 📱 Criminals are collaborating on social media, especially apps like Telegram, to share tips and target new banks. Meanwhile, banks are responding with tougher measures like longer holds on deposits ⏳ and freezing suspicious accounts 🚨. 💡 What can we do? Strengthen fraud detection systems 🔍. Educate customers on safeguarding their checks 🛡️. Improve coordination between banks and law enforcement 🤝. ✉️ With paper checks still a staple in the U.S. economy, the fight against fraud is far from over. Is it time to rethink our reliance on checks? 🤔 #Fraud #Banking #CheckFraud #CyberCrime #FinancialSecurity #Innovation

We love talking to you. But remember, we will NEVER reach out to you to request personal information. If you ever receive a phone call, text, email, or other contact from someone identifying themselves as a Jefferson Bank representative and they ask for your personal data such as your account or social security numbers, date of birth, online or mobile banking credentials, Personal Identification Number or security codes for credit or debit cards, DO NOT RESPOND. Simply hang up or delete the email or text immediately. The privacy and security of your information is important to us. If you think you have received any of these types of fraudulent communications, please get in touch with our Fraud Operations Department at (210) 736-7474. Stay safe! #ThisIsPersonalToUs #FraudPrevention