How scammers use technology to steal your money --- And how to protect yourself.

One of most prevalent instances of fraud is related to something you are using right now – a digital device. Whether it’s a computer or a mobile device connected to the internet, scammers are tricking consumers into taking actions that give the scammers access to the victim’s money.

Sandy Ozier, senior vice president and fraud manager at Commerce Bank, says scammers initiate contact with their victim and claim to be from a legitimate financial institution, utility company, or another business the victim has likely had contact with in the past.

How online scams work: Emails, texts and calls.

There are various ways computer scams can be initiated, such as by email, text, or phone call. The common theme is that the scammer contacts the victim unsolicited. Here are some ways scammers are sometimes making contact to initiate fraud.

Email

Scammers may send you an email that looks like it’s from your bank and ask you to click on something such as a link or a statement. This lets the scammer know you’re taking the bait. The computer starts glitching, and then the phone rings. It’s the scammer posing as your bank and they start asking for personal information such as your name, phone number, address and other personal identifying details.

A reminder that we will never ask link opens in a new window for sensitive personal information through unsolicited emails, phone calls or text messages.

Text

The scammers text you posing as a business — often one you’ve worked with in the past. They ask you to click on a link to pay a small outstanding bill. From there, you’re asked to give personal information to settle the alleged bill, which gives the scammer access to your finances.

“One of the more prevalent scam texts going around right now is telling people they have an outstanding toll, and to avoid losing their license they need to pay a fee,” said Ozier. “The scammers then provide a link where they’re able to initiate fraudulent payments.”

Phone

This scam is sort of a blend of the email and text scams. According to Ozier, what some scammers may do is call you and tell you your computer has a virus and that they can fix it for a fee.

“Then the scammer gives you a website to go to and says you need to pay for the repair before they can proceed,” said Ozier.

The scammer can see you entering your information, and are able to record the card number. Then when it comes to the payment, they tell you they need to type in the dollar amount.

“You try to enter $100, but it only shows $10,” said Ozier. “So you think you missed a zero and so you hit the zero again and again. You end up approving a transaction for $1,000 or $10,000 for a service that isn’t even legitimate.”

Steps to take if you are scammed:

Ozier says that if you become a victim, stay calm. There are steps you can take to try and recover some of your stolen money.

“Call your bank immediately,” said Ozier. “If you bank with us at Commerce Bank, call the number on the back of your card and we will work with you to figure out your options.”

But the best thing to do is to try and prevent a scam from happening in the first place.

“Hang up that phone, delete that text or email,” said Ozier. “It thrills us if our customers act with caution. We will never be upset if a customer hangs up on us to verify a call is legitimate.”

Essential tips to keep your money safe from scammers:

Here are a few general safety tips to protect your money.

• Be vigilant. Technology, especially artificial intelligence (AI) link opens in a new window, is making it easier than ever for scammers to appear legitimate. From spoofing phone numbers to creating emails that look authentic, always take steps to verify the person reaching out to you is really who they say they are.
• Don’t answer unknown phone calls. If you do not recognize an incoming phone number, do not answer. If they leave a voicemail, verify the callback number before calling.
• Keep passwords and codes private. Financial institutions and other businesses will never ask for passwords, one-time passcodes, PIN numbers, card numbers, expiration dates, CVV codes, or any other similar types of confidential information.
• Take your time. Often, the scammers will put pressure on their victim to act quickly. Do not rush. Hang up the phone and independently look up the phone number of the business allegedly contacting you. Call them and verify whether the call was legitimate.
• Never mail your card anywhere. Even if you get a new credit or debit card, never mail your old card to your financial institution — it’s too easy for the card to fall into the wrong hands. Cut it up and throw it out. If your card is metal, use tin snips to shred it.
• Protect your cards like cash. Credit and debit cards are the keys to your bank accounts. Protect them just like you would if you were carrying around a stack of money.
• Fight fraud before it happens link opens in a new window. Commerce Bank has resources to help you stay on top of your information security. Review the tips and ensure you’re being proactive to stay safe.

It’s important to remember this isn’t an exhaustive list of how these scams work. Fraudsters are frequently changing their tactics in order to give the perception of legitimacy. Above all, if something feels off, it probably is. Take the extra step to protect yourself and your money.