Here at Dime, your security is our number one priority. In order to protect yourself and your financial future, we’ve listed some of the most common scams and the red flags you should watch out for.

Business Email Compromise (BEC) Scams

Business Email Compromise (BEC) fraud is a type of cyber scam which targets businesses that regularly conduct wire transfers and ACH transfers, and is one of the most financially damaging online crimes.

How Criminals Carry Out BEC Scams

A scammer might:

• Spoof an email account or website. Slight variations on legitimate addresses ([email protected] vs. [email protected]) fool victims into thinking fake accounts are authentic.
• Send spearphishing emails. These messages look like they’re from a trusted sender to trick victims into revealing confidential information. That information lets criminals access company accounts, calendars, and data that gives them the details they need to carry out the BEC schemes (CEO Fraud, Employee Account Compromise, Man-In-The-Email Scam, Bogus Invoice Scheme).
• Use malware. Malicious software can infiltrate company networks and gain access to legitimate email threads about billing and invoices. That information is used to time requests or send messages, so accountants or financial officers don’t question payment requests. Malware also lets criminals gain undetected access to a victim’s data, including passwords and financial account information.

What to look for:

• Emails and phone calls to employees with requests for their account username and/or password
• An email address that has slight variations from the legitimate address (e.g., [email protected] instead of [email protected])
• Unusual requests from a supplier to make a wire transfer (e.g., requests to bypass normal payment procedures or to only communicate by email)
• Check and double-check the owner of the email address. You can easily do this by clicking on the email address in the email header to identify the sender (e.g., the sender looks like [email protected], however when you click on the email it looks like [email protected])

What you can do:

• Is your vendor or their point-of-contact new? If new, how did they learn about your business?
• If instructions are received by email or text, call the vendor directly on a known number and confirm the change.
• Did the vendor express urgency in request or provide only a specific window of availability for contact? 

Educate yourself and your employees on this kind of scam, as no business is immune. Fraudsters consider themselves opportunists and will not hesitate to exploit a weakness when found. 

How to Report:

If you or your business fall victim to a BEC scam, it’s important to act quickly:

• If you discover you are the victim of a fraud incident, immediately contact your financial institution to request a recall of funds. Regardless of the amount lost, file a complaint with www.ic3.gov or, for BEC/EAC victims, BEC.ic3.gov, as soon as possible.

Phone Call Scams

These scammers may try to steal your money or personal information by pretending to be someone they’re not. Scams may come through phone calls from real people, robocalls, or text messages.

How Criminals Carry Out Phone Call Scams

A scammer might:

• Use neighbor spoofing so it appears that an incoming call is coming from a local number, or spoof a number from a company or a government agency that you may already know and trust. If you answer, they use scam scripts to try to steal your money or valuable personal information, which can be used in fraudulent activity.
• Callers often make false promises, such as opportunities to buy products, invest your money, or receive free product trials. They may also offer you money through free grants and lotteries. Some scammers may call with threats of jail or lawsuits if you don’t pay them immediately.

What to look for:

• A claim that you have been specially selected
• Use of high-pressure sales tactics and “limited-time” offers
• Reluctance to answer questions about the business or the offer 
• Request that you “confirm your personal information”
• Request payment by means other than credit card –including cash, gift card, wire transfer or private courier 
• Request your credit card or other payment mechanism for “shipping and handling”
• Use of threats if you don’t comply – even the threat of arrest 
• The call starts with a prerecorded message – typically called a “robocall”
• Claims you have a virus on your computer or requests to log in to your computer
• Claims to be a friend or relative in need of money – but they don’t give you any time to think or contact others 

What you can do:

• Enroll for free in the federal do-not-call list at www.donotcall.gov. This can help limit the number of scam calls you receive.
• If you receive a Robocall, hang up the phone, block their number, then report the phone number to your provider.

How to Report:

If you or your business fall victim to a phone scam, it’s important to act quickly:

• If you discover you are the victim of a fraud incident, immediately contact your financial institution to request a recall of funds. Regardless of the amount lost, Report the scam to the FTC online, or by phone at 1-877-382-4357 (9:00 AM – 8:00 PM, ET). The FTC accepts complaints about most scams, including phone call scams.

Text Message Scams

Scammers send fake text messages to trick you into giving them your personal information — like your password, account number, or Social Security number. If they get that information, they could gain access to your bank account, email, or other important accounts. They may also sell your information to the highest bidder.

How Criminals Carry Out Text Message Scams

A scammer might:

• Try to get you to click on links in text messages by promising you something.
• Send fake messages that say they have information about your account or a transaction.
• Ask you questions like how much money you make, how much you owe, or questions about your bank account, credit card, or Social Security number — in order for you to claim your gift or pursue an offer.
• Also send you links which lead to fake websites. These websites may attempt to recreate popular websites in order to get you to input your login credentials or credit card information.

What to look for:

• Promises of free prizes, gift cards, or coupons — but they’re not real
• Offers you a low or no interest credit card — but there’s no deal and probably no card
• Promises to help you pay off your student loans — but they won’t
• Say they’ve noticed some suspicious activity on your account — but they haven’t
• Claim there’s a problem with your payment information — but there isn’t
• Send you a fake invoice and tell you to contact them if you didn’t authorize the purchase — but it’s a scam
• Send you a package delivery notification— but it’s fake

What you can do:

• Your phone may have an option to filter and block spam or messages from unknown senders. Here’s how to filter and block messages on an iPhone and how to block a phone number on an Android phone.
• Copy the message and forward it to 7726 (SPAM). This helps your wireless provider spot and block similar messages in the future.
• Report it to the FTC at ReportFraud.ftc.gov.

How to Report:

If you or your business fall victim to a text message scam, it’s important to act quickly:

• If you discover you are the victim of a fraud incident, immediately contact your financial institution to request a recall of funds. Regardless of the amount lost, Report it to the FTC at ReportFraud.ftc.gov.

Payment App Scams

Some scammers may attempt to trick you into sending them money through a mobile payment app. That’s because they know once you do, it’s hard for you to get your money back.

How Criminals Carry Out Payment App Scams

A scammer might:

• Pretend to be a loved one who’s in trouble and ask you for money to deal with an emergency.
• Say you won a prize or a sweepstakes but need to pay some fees to collect it.
• Use malware. Malicious software can infiltrate company networks and gain access to legitimate email threads about billing and invoices. That information is then used to time requests or send messages, so accountants or financial officers don’t question payment requests. Malware also lets criminals gain undetected access to a victim’s data, including passwords and financial account information.
• Create fake websites and links to lure you to perform an online transaction.
• Pose as Dime or its partners to contact you to pay with a gift card.
• “Spoof” the Dime customer contact phone number to call you and pose as Dime. They will try to gain access to your login information, and ultimately your accounts.

What to look for:

• Fraudsters may reach out claiming to represent a fraud department or merchant and ask you to confirm information such as your bank account username and password, credit card or debit card data, or Social Security numbers.
• Scammers posing as a legitimate business may request a P2P payment for a product or service. Once they receive your money, you never receive what you paid for, and they disappear. 
• A scammer “accidentally” sends you money on a P2P service and asks you to send the money back. Never send back the money, and instead contact the P2P service about the error. 

What you can do:

• Cash App recommends chatting through their app for the fastest service. To do so, open the app, go to your profile, and choose Support. You can also get help through cash.app/help or by calling 1 (800) 969-1940.
• Venmo also recommends chatting through their app for the fastest service. To do so, open the app, go to your profile, and choose Get Help. You can also email Venmo through their contact form or call them at 1 (855) 812-4430.
• For PayPal report it online through PayPal’s Resolution Center or call PayPal at 1 (888) 221-1161.
• For Zelle^® Immediately report suspicious activity to Zelle^® Support. If you authorized the payment, report a scam here.

How to Report:

If you or your business fall victim to a payment, it’s important to act quickly:

• If you discover you are the victim of a fraud incident, immediately contact your financial institution to request a recall of funds. Regardless of the amount lost, contact Zelle, Cash App, Venmo, or PayPal from the links above.

Check Scams

In a check scam, a person you don’t know will ask you to deposit a check from them, sometimes for several thousand dollars. They will tell you to send some of the money back or to another person. They always have a good story to explain why you can’t keep all the money. They might say they need you to cover taxes or fees for a prize, to buy supplies for a job, to send back money they overpaid, or something else.

How Criminals Carry Out Check Scams

A scammer might:

• Pretend to hire you as a mystery shopper. They tell you that your first assignment is to evaluate a retailer that sells gift cards, money orders, or a wire transfer service like Western Union or MoneyGram. You get a check with instructions to deposit it in a personal bank account and wire some of the money to someone else. But once you do, the money is gone and the so-called “employer” will disappear, too.
• You apply online and think you’re getting hired as a personal assistant. You get a check and are told to use the money to buy gift cards and send the PIN numbers to your “boss.” But the boss is a scammer, and once they get the gift card PINs, they will use them instantly. Leaving you without the money when the bank figures out the check was fake.
• Buy something from you online, “accidentally” and send you a check for too much. They will then ask you to refund the balance.

What to look for:

• Mystery Shopping: An “employer” will send you a check and tell you to use that money to purchase gift cards.
• Car Wrap decals: The company tells you to deposit a check and then send money to decal installers. But it’s a scam, the installers aren’t real, and now your money is gone.
• Claiming Prizes:  A sweepstakes says you’ve won and gives you a check. They tell you to send them money to cover taxes, shipping and handling charges, or processing fees. But that’s not how legitimate sweepstakes work — and you’ll be out any money you send.
• Overpayments: People buying something from you “accidentally” send a check for too much, and ask you to refund the balance. But the check is a fake.

What you can do:

• Don’t rely on money from a check unless you know and trust the person you’re dealing with.
• If you wired money to a scammer, call the wire transfer company immediately to report the fraud and file a complaint. Reach the complaint department of MoneyGram at 1-800-MONEYGRAM (1-800-666-3947) or Western Union at 1-800-325-6000. Ask for the money transfer to be reversed. It’s unlikely to happen, but it’s important to ask.
• If you paid a scammer with a money order, contact the company that issued the money order right away to see if you can stop payment. Also, try to stop delivery of the money order: if you sent it by U.S. mail, contact the U.S. Postal Inspection Service at 877-876-2455. Otherwise, contact whatever delivery service you used as soon as possible. 
• If you paid with cryptocurrency, contact the company you used to send the money and tell them it was a fraudulent transaction. Ask to have the transaction reversed, if possible.

How to Report:

If you or your business fall victim to a check scam, it’s important to act quickly:

• If you think you’ve been targeted by a check scam, report it to the Federal Trade Commission, the U.S. Postal Inspection Service, or your state Attorney General.

Mail Theft

Tips to help keep your mail secure:

Mail theft-related check fraud generally pertains to the fraudulent negotiation of checks stolen from the U.S. Mail. The U.S. Postal Inspection Service (USPIS) has outfitted some mailboxes in high-risk areas with anti-fishing devices, preventing criminals from pulling up mail through collection-box slots. After stealing checks from the U.S. Mail, fraudsters and organized criminal groups may alter or “wash” the checks, replacing the payee information with their own or fraudulent identities or with business accounts that the criminals control. However, there’s still plenty that consumers can do to lower the risk of mail theft and financial loss.

• Deposit mail in collection boxes as close to the indicated pickup time as possible or bring it inside the post office for mailing.
• If you choose to leave outgoing mail in your mailbox, don’t put up the flag.
• If possible, use digital forms of payment instead of writing out checks.
• Try not to leave incoming or outgoing mail sitting in your mailbox for an extended time, particularly overnight.
• Sign up for Informed Delivery. With this free service, the U.S. Postal Service (USPS) will email you images of everything that will be delivered to your home that day, therefore you’ll know what to expect (and anything that may be missing).  
• Use the USPS Hold Mail service (you can sign up online) if you’ll be away from home, or have a neighbor collect your mail until you return.
• Keep an eye on your bank accounts for potential fraud, and report suspicious activity as soon as possible.
• When making out a check, write out the amount — “One hundred and twenty dollars and ten cents,” for example, so the words fill out the line. This makes it more difficult for someone to alter it without washing off the ink. Also make sure the numeric amount fills the box on the far-right side of the check.

If you think your mail has been stolen:

1. Report suspected mail losses to the USPIS, which uses such reports to identify problem areas and where to focus crime investigations, at uspis.gov/report, or by calling 877-876-2455.
2. Report the theft to local law enforcement so you’ll have a police report documenting the crime.
3. Visit the following page for more tips from the USPIS on how to help protect yourself and others against mail and package theft: https://www.uspis.gov/tips-prevention/mail-theft

Additional Resources

Keeping You Secure

• Online Security
• Passwords
• PC Security
• SSL Certificate & 128-bit Encryption
• Mobile Security
• Business Integrity Hotline

Helping You Avoid Fraud

• Reporting Fraudulent or Suspicious Activity
• Monitoring and Detecting Fraudulent or Suspicious Activity
• How To Protect Yourself Against Identity Theft
• How To Avoid Phishing Schemes
• How To Avoid Website Spoofing
• How To Avoid Social Engineering Attacks

Online Resources To Assist You