At First Republic, our first priority is protecting your personal information. In recognition of National Consumer Protection Week, we wanted to provide you with some quick tips.
How to identify a fraudster
Fraudsters use urgency and compelling language to convince 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.
- If it sounds too good to be true — Fraudsters dangle the carrot of easy money in order to distract you from their target: your personal and financial information. Typically speaking, 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 and attempting to induce panic. 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.
- 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 account number, PIN or even your mailing address. Be wary of such requests, especially if the person seems too insistent or rushed.
- Uncomfortable with a request received over the phone? Do not respond and hang up.
- Contact First Republic by calling your banker or our Client Care Center at (888) 408-0288.
- Never click on a link in an email that you are not expecting or looks suspicious.
- To help protect others from a potential scam, log a phishing report with the FTC by going to ftccomplaintassistant.gov.
What you can do
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.