At First Republic, our first priority is protecting your finances and personal information. Below are a few quick tips on keeping your finances and private information safe.
How to Identify a Fraud Attempt
Fraudsters use urgency and compelling language to trick their targets to reveal personal information. These scams usually come in the form of an alert about a threat to your safety or account security. Whether it is through a phone call, text message or email, look out for the following red flags:
- Money is involved — They may say that you have won money, that you have been left money, that your money is in danger, etc. — but the common element is money. Fraudsters dangle the carrot of easy money in order to distract you from their target: your personal and financial information. Typically, offers of money or prizes from financial institutions come in the form of a promotion which will be announced with the appropriate regulatory disclosures. Thus, if it sounds too good to be true, it almost certainly is.
- A false sense of urgency — Fraudsters are notorious for creating a false sense of urgency, attempting to induce panic in order to override our better judgement or common sense. Often the email or phone call will mention that time is a factor and that there will be negative consequences if your decision is not made quickly. Sometimes fraudsters will pose as your boss emailing instructions to urgently send out staff member’s W-2 forms. People often comply with authority and fraudsters rely on that degree of separation to commit fraud.
- Something is “wrong” — Most scams begin with a hook to get your attention. This usually comes in the form of telling you that there are problems with your credit card or bank account, followed by a request for you to call a number or click a link to resolve the issue.
- A request for personal information — You should be immediately suspicious of any phone call or email that requests your . Be wary of such requests, especially if the person seems too insistent or rushed.
Fraud Prevention Tips
- Uncomfortable with a request received by phone, email or other communication? Do not respond. If the request looks like it’s from someone you know, speak to them in person to confirm their request.
- Never click on a link or attachments in an email that you are not expecting or looks suspicious.
- Contact First Republic by calling your banker or our Client Care Center at (888) 408-0288.
- To help protect others from a potential scam, log a phishing report with the FTC by going to ftccomplaintassistant.gov.
Visit our Security and Fraud Prevention Center for a comprehensive list of best practices to help protect you from fraudulent activity. Be vigilant, stay informed and follow your best judgment.