1.16.2025 / Fraud Education
As we kick off the New Year, it's crucial to remain vigilant against scams targeting unsuspecting consumers. The Federal Trade Commission (FTC) recently issued warnings about a range of fraudulent schemes, and at Gateway, we want to ensure our community stays informed to protect themselves in this busy period.
10.10.2024 / Fraud Education
As we celebrate National Cybersecurity Month this October, it’s essential to focus on the growing importance of online security, especially in the banking sector. With the rise of digital transactions and online banking, protecting yourself from online fraud has never been more crucial.
11.2.2023 / Fraud Education
Artificial intelligence (AI) is revolutionizing the way companies operate and interact with customers. However, with the benefits of AI come risks and challenges that need to be addressed to ensure safety and security.
6.8.2023 / Fraud Education
According to the American Banking Association, there are over 500 million checks that are forged yearly, amounting to losses approximating more than $10 billion. Additional statistics show that the loss per check issued in the United States amounts to $1,545 on average. Keep in mind that failure to ensure check security features can result in a shift of financial liability from the bank to the checking account holder. There are a number of check security features that have been developed to protect businesses and consumers. Banks and vendors that print checks can select which of these security measures they want to use. So, not all features are on every check.
1.31.2023 / Fraud Education
This tax season, the IRS wants taxpayers to be extra cautious and conscious of tax fraud. Criminals are growing more sophisticated in how they target victims, with SSN scams, robocalls, email phishing attacks, and even natural disaster money ploys. Don’t be a victim. Spot the scam! Here are five quick ways to avoid tax fraud.
10.12.2022 / Fraud Education
Every day, thousands of people fall victim to fraudulent emails, texts and calls from scammers pretending to be their bank. And with the increased use of online and mobile banking, the problem is only growing worse. In fact, the Federal Trade Commission’s report on fraud estimates that American consumers lost a staggering $5.8 billion to phishing scams and other fraud in 2021—an increase of more than 70 percent over 2020.
8.10.2022 / Fraud Education
Cybercriminals are using fake jobs to steal identities and money from unsuspecting victims. By promising jobs that don’t exist, scammers gain easy access to money and valuable personal information. Statistics from the FBI’s Internet Crime Complaint Center (IC3) indicate that 16,012 people reported being victims of employment scams in 2020, with losses totaling more than $59 million. With the increasing demand for working remote, it is anticipated that these scams will only increase in frequency.
8.3.2022 / Fraud Education
According to the FBI, BEC (Business Email Compromise) scams are the most financially damaging cybercrime. In 2020 alone, BEC scammers stole $1.8 billion. Even Facebook and Google have fallen victim to these email scams, collectively losing around $121 million. But what are BEC scams exactly, and why are they so effective? BEC scams are emails from a trusted source (usually a business you regularly work with) making a seemingly legitimate request to send money. Because the email appears to be from a familiar source, the request is often not questioned. Knowing what they look like is one of the best defenses against these scams. Listed below are common methods used for BEC scams: