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The pandemic has accelerated identity theft – and the impact on regular people is significant. In fact, Americans have lost more than $382 million to scams related to stimulus checks and unemployment benefits, fake treatments for COVID-19 and more, according to the Federal Trade Commission (FTC).
Even worse, Black and Latinx consumers are more likely to be victims of fraud than their white counterparts. That’s why it’s crucial to recognize activity designed to steal your hard-earned money.
JPMorgan Chase is available to help consumers learn to spot suspicious activity – from fake emails and texts to bogus claims about ways to stay healthy. We sat down with Jordan King, local community manager from the Chase Community Center branch on Crenshaw Blvd, to discuss tips and best practices for securing a better financial future.
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What should consumers be looking for when it comes to scammers?
King: Let’s start with emails and texts. Phishing is the fancy name for emails pretending to be from reputable companies – including banks. They’re really from criminals who are trying to get your personal information, such as passwords and credit card numbers.
The email could ask you to reply or click on a link that takes you to a website that looks like your bank’s site. Then they’ll ask you to give your username, password, account number, personal identification number (PIN), Social Security number or other personal information. Also, if you click on an attachment to that email, it could download software called malware that tracks or steals your information.
So, be very careful about clicking on a link in an email; instead go directly to the company’s website. And don’t click on attachments unless you’re sure it’s from someone you know and trust.
Scammers are increasingly starting to contact victims by text message or phone, most often from a number you don’t recognize, and telling you there’s a problem with your bank account, including that it’s closed, frozen or will be terminated unless you call a phone number or go to a website listed in the message and give your personal and/or account information.
Are there specific signs to look for?
King: Yes, here are a couple of surefire ones:
How can consumers protect their money and their information?
King: Here are few best practices:
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How does Chase protect customers from fraud?
King: We see it as a partnership; we help protect your accounts and information, and so do you. We monitor all of our accounts around the clock, including using security measures you can’t see.
Also, if we find or you flag a transaction that you didn’t authorize, we offer Zero Liability Protection, meaning you won’t be held responsible for it.
Stop by our branch on Crenshaw Blvd or our other locations to learn more about JPMorgan Chase’s commitment to customer security through our fraud prevention and protection tools. I look forward to working with you.
Sponsored content from JPMorgan Chase & Co.