Knowledge Center

How to Protect Yourself from Phishing Scams

keeping-my-information-safe | Read Time: 3 minutes

By Robert Eastwood and Mike Dzielak | Published: October 2023

How to Protect Yourself from Phishing Scams

If you have a cellphone, tablet, laptop or PC, odds are you’ve received at least a few messages through the years with suspicious links – that you hopefully did not click.

Phishing is the fraudulent practice of sending emails or other messages purporting to be from reputable companies in order to trick you into sharing personal information such as passwords, credit card information or to send money.

Phishing through digital messages pretending to be from legitimate companies to compromise your devices and personal information is among scammers’ favorite tactics. According to the Federal Trade Commission, consumers lost nearly $8.8 billion to fraud in 2022, a more than 30% increase from 2021.

While scammers are constantly evolving their tactics to stay one step ahead, there are things you can do to better protect yourself. Here are tips to help protect yourself from phishing scams.

How Phishing Works
Phishing is when scammers masquerade as a legitimate business or personal contact and try to get you to click a link they sent via email, text message, social media and more to install malicious software that will allow them to compromise your device. Scammers also regularly spoof legitimate websites and phone numbers for banks and businesses to make their messages seem authentic.

Some common tactics include claiming you have a package being held for delivery, stating the government “owes you money” that you need to “claim,” and even pretending to be contacting you about potential fraud on your accounts. This is why it is vital to know what a bank impersonation scam looks like, how your bank will communicate with you, and what information your bank will and won’t ask for when they do contact you.

Scammers will also use pressure tactics and try to create a sense of urgency for you to click the link, send them money or sensitive information to get you to act without thinking. Remember to take a deep breath and think before clicking.

How to Protect Yourself
Steps you can take to protect yourself include:

  • Never click links in messages you were not expecting to receive. If something seems off in a message, delete it without clicking links and contact the business directly using the phone number listed on their official website.
  • Keep your devices’ operating systems, softwareincluding anti-malware programsupdated. Using virtual private networks (VPNs) when connecting to the internet can also add a layer of protection.
  • Scan any external devices you’re connecting, such as USB drives, for malware to prevent your device from being infected.
  • Use caution whenever downloading or opening attachments, especially from unknown senders, and avoid clicking pop-ups and banner ads, as scammers may be using them to put viruses or spyware on your device.
  • Use two-factor authentication wherever possible to add a layer of security to your accounts.

If You’ve Been a Victim

For additional tips on protecting yourself and your finances, visit our Security Center, https://www.banksneveraskthat.com/ or https://staysafeonline.org/resources/.




About the Authors
Robert Eastwood is Senior Vice President, Chief Information Security Officer at WSFS Bank. He has more than 24 years of experience in the information security field, including nearly 20 years at WSFS, most recently as Vice President, Information Security Officer, where he developed and executed a multi-year strategic plan for Information Security. He also holds a number of professional certifications and memberships in the Information Services, IT and financial services fields.

Michael Dzielak, MBA is Senior Vice President, Director of Financial Crimes at WSFS Bank. Prior to joining WSFS, he spent more than 20 years at the FBI, most recently as a Special Agent on the White Collar Crime Squad, where he was responsible for investigating financial fraud and corruption, and was a leader of global and national criminal investigations in the financial institution fraud, money laundering, government fraud, healthcare fraud, public corruption, civil rights and child exploitation arenas.

 

Cybersecurity Awareness Month: Tips to Protect Yourself from Scams

Cybersecurity Awareness Month: Tips to Protect Yourself from Scams

Each October since 2004 has marked Cybersecurity Awareness Month, a collaboration between government and the private sector to educate consumers on ways to stay safe online.

Read More
Tips to Protect Yourself from Wire Transfer Scams

Tips to Protect Yourself from Wire Transfer Scams

Wiring money can be a quick and convenient way to transfer funds, but before sending money to anyone it is important to take steps to protect yourself from fraud.

Read More
Tips to Protect Yourself from Bank Impersonation Scams

Tips to Protect Yourself from Bank Impersonation Scams

According to the Federal Trade Commission, consumers lost $330 million to text message scams in 2022, with fake bank security messages the most common type of scam.

Read More
Junk Mail or Information from My Lender?

Junk Mail or Information from My Lender?

If you have a mailbox, then odds are you’re no stranger to junk mail. And if you’ve also closed on a loan recently, whether a mortgage for your home or loan for your business, it is likely you’ve received quite a few solicitations in your mailbox that look as though they could be from your lender.

Read More
Tips to Protect Yourself from ATM and Debit Card Fraud

Tips to Protect Yourself from ATM and Debit Card Fraud

Thirty-six percent of all U.S. banking customers said they have experienced some kind of financial fraud in the past 12 months, according to J.D. Power, with unauthorized purchases on debit cards being among the most common occurrences.

Read More