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Keeping FIs and Account Holders Safe From Covid-19 Fraudsters

Written by Q2 | 3 Sep, 2020

Cybersecurity has always been a leading priority for Q2. With the accelerated importance of the digital channel in providing seamless service for account holders, this priority is only magnified. Fraudsters are continuously looking for new ways to steal information from unsuspecting account holders, and they have recently added a new plan of attack – impersonating Covid-19 contact tracers.

Contact tracer or con artist?

Fake COVID-19 contact tracing calls are being used to convince people to submit sensitive information, claiming the potential fraud victim was near someone with COVID-19 or is at risk of contracting COVID-19. The fraudster may ask for “payment verification” or other information before continuing the message. These calls may sound real, but some key identifiers can identify a fraud.

Determining a call’s legitimacy is critical. An authentic contact-tracing call can share essential resources for preventing further spreading of the coronavirus.

Tips to distinguish between real and fake contacts

Knowing what to guard against can help FIs and their account holders significantly reduce the chance of being fooled by these tech-savvy imposters. It’s wise to be initially skeptical about these types of calls until their legitimacy is verified. Here are some essential considerations for discerning if a call is a scam:

  • Did the caller share the name of the health facility where they work?
  • Most legitimate callers will send a text message before they call but won’t include a link. If there is a link in the text message, don’t click on it. (And don’t share any social security numbers, payment information, or account passwords.)
  • Did they share the name of someone who supposedly has COVID-19? A legitimate health facility or organization will never share other people’s names due to privacy restrictions.

Related resources

The tips above are just a few of the ways to identify potential threats surrounding COVID-19 scams. Take a closer look at this crucial topic on the following sites.

National Cybersecurity Awareness Month

Cybersecurity is a year-round job at Q2. With National Cybersecurity Awareness Month coming up in October, make sure to bookmark the Q2 blog for security-focused resources on keeping account holders safe against phishing, credential stuffing, and other relevant threats.