Zions Bank Alert

 

Three Common Scams to Avoid

By Steve Allred  

Over the last few years, scams have skyrocketed. According to the Federal Trade Commission, consumers reported losing more than $5.8 billion to fraud in 2021 — an increase of more than 70% compared to the previous year.

Recently, we’ve seen a sharp uptick in scams reported by Bear Lake Valley residents. The FTC’s Consumer Sentinel Network reported that out of 5.7 million reports in 2021, 49 percent were for fraud and 25 percent were for identity theft.

Here are three common scams to be on the lookout for:

1. Account takeover fraud. This is a cybercrime where a third-party hijacks an online account, such as an email account, bank account or social media profile. Scammers typically gain access to credentials through hacking, data breaches or social engineering.  

Social engineering takes place when cybercriminals pretend to be legitimate institutions to obtain personal information. Be wary of text messages or emails that ask you to click a suspicious link or provide personal information. If you believe a phone call may not be legitimate, hang up and call your institution directly at a number you trust.

2. Romance scams. Romance scams play on human emotion to tug at your heart and purse strings. Scammers create fake profiles and target their victims through popular social media sites. They attempt to build trust with their victims to get money or information.

3. Imposter scams. The most prevalent social media scam reported last year was the imposter scam. This is when scammers pose as someone else to get you to send them money or click on links that download malware to your computer. Sometimes, cybercriminals will impersonate a recognizable brand. In these situations, scammers hope to gain your trust by claiming to be associated with a reputable company or person.

If you’ve been a victim of fraud, immediately change any compromised usernames and passwords and notify your financial institution. You may also file a report with the FTC at ReportFraud.ftc.gov.

Despite growing cases of fraud, consumers can act immediately to safeguard personal information by taking the following steps: 

·       Install programs that can help defend against hacking and malicious software. It’s important to install a firewall, anti-virus software and an anti-malware browser plug-in. Using a pop-up blocker can help prevent adware, fraudware and scareware and it’s also recommended to keep your operating system and other software up-to-date.   

·       Safeguard personal information. Don’t provide your Social Security number or bank account information to anyone who contacts you online or over the phone. If you are unsure whether an email request is legitimate, don’t reply, and don’t click on links or call phone numbers provided in the message.

·       Monitor your accounts. Use online banking to monitor your financial accounts for fraudulent transactions and set up multifactor authentication whenever possible, which uses multiple authentication methods to verify your identity. Sign up for text or email alerts from your bank for certain types of transactions, such as online purchases or transactions of more than $500. Finally, check your credit report on a regular basis. You may order a free copy of your credit report every week from each of the three credit reporting agencies at annualcreditreport.com.

Although fraud has increased, staying vigilant can help you defend yourself against scammers.

Steve Allred is vice president and manager of the Bear Lake Valley and Bear Lake Garden City branches of Zions Bank, a division of Zions Bancorporation, N.A. Member FDIC. He can be reached at 208-244-3527 or Steven.Allred@zionsbank.com

Free Day at The Zoo sponsored by the Family Place June 9

 

The Family Place

 I am happy to announce that Curtis Snelgrove from The Family Place will be teaching a class on Mental Health Illness.

The class is May 19th, 2022

Mountain View Room ( above the library)

Garden City

6-8 pm

Refreshments will be served!

This class is for anyone in the community who would like to learn more about Mental Health Illnesses and how to help those who are struggling with this disease. Whether it is a family member, friend, self or stranger.

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Dawson Pugmire son of Nate Pugmire

Dawson passed away today (May 15th) after spending a few days in Primary Children's Hospital from a brain bleed. More information about Dawson to come. Our condolences to Nate's family

2022 Rich High School or Bear Lake High Graduating Seniors

 I would be delighted to honor these students if their parents approve of letting me put it in RCT.

Call or text me at 435-881-3223

Commissioner's Corner from Bill Cox

 

When roads and bridges reach the point of needing reconstruction or replacement, outside funds must be sought. Presently we have four bridges in the county that have been identified by UDOT for reconstruction. Load limits have been significantly reduced due to deterioration of the structure of these bridges. Over the last year we did engineering work to establish the costs and design of replacement. I then submitted an application for federal funding and have recently received approval for full funding to replace all four of these bridges in the next 36 months. The cost estimate for this project will be between $13M and $14M. No property tax dollars will be used for these projects. 

I continue my commitment to keeping our taxes low and finding alternate sources of funding for projects. I would appreciate your support in the Republican Primary Election June 28th. If you have questions or comments about these projects or anything else, please feel free to contact me at (435)757-8248 or wecox2@gmail.com.