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Article details provided by Melissa Walker, VP, Retail Operations & Security
 Tips to Stay Safe
Invoice scams are becoming increasingly common, targeting individuals through fake utility bills, overpayment scams, and phishing emails. As we approach the holiday season, it’s important to stay vigilant and protect yourself from falling victim. Melissa Walker, VP of Retail Operations & Security at Croghan Colonial Bank, highlights common scams and how you can stay safe.
Common Invoice Scams
- Fake Bills or Subscription Renewals: Scammers send emails resembling utility bills or subscription notices to trick you into paying for services you don’t use.
- Overpayment Scams: A scammer sends an invoice for an overpayment and asks you to refund the excess—only for you to find out the original payment was fake.
- Phishing Emails: You receive an email pretending to be from a trusted service provider, asking for payment or personal information.
"Fake email invoices are the most common scams people fall victim to, especially when they closely resemble legitimate bills," Melissa Walker explains. "Scammers use tactics like urgency and matching logos to trick individuals into paying without verifying the source."
Key Stat: In 2023, 358,000 reports of email scams were filed with the FTC, making email the most common method used by scammers (Scam snapshot 2023 FTC).
How to Protect Yourself
- Verify the Source: Always check with the service provider directly before making a payment.
- Avoid Clicking Suspicious Links: Be cautious of emails that urge immediate action or appear from unfamiliar sources.
- Monitor Your Accounts: Regularly review your bank statements for any unauthorized transactions.
Emerging Scams to Watch For
Cryptocurrency and wire transfer scams are becoming more common. Scammers may ask for payment via untraceable methods, making it nearly impossible to recover your funds once they’re sent.
"Senior citizens are often targeted more because scammers assume they have more money or might be less aware of these new types of scams," Melissa notes. "But really, anyone can be tricked into falling for these tactics, especially when scammers create a sense of urgency."
Stay Safe
If you receive a suspicious invoice, don’t panic. Reach out to the company directly, using contact information you trust. If you’re ever in doubt, Croghan Colonial Bank is here to help you verify and protect your accounts.
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