Financial Forecast: Preparing for Hurricane Scams

As the seasons change and the cool air meets the warm, storms begin to brew in the ocean and within the financial scape. Criminals are clever and know that during a time of crisis, they can try to take advantage of unsuspecting victims. As our members’ chosen financial institution, we are often the first line of defense when it comes to preventing scams. Hurricane season is upon us now so let’s brush up on best practices and common occurrences when it comes to hurricane scams.

Fraudulent emails

We are all well-versed in spotting phishing emails but often times our members are not. During a hurricane, criminals can capitalize on sending malicious links and attachments. Often, cybercriminals will send emails that convey an urgency that may seem more likely in a hurricane. You may remember that last year, there were several JEA email scams. If a member comes in to request a wire or you see suspicious activity on their online banking, ask extra questions to gently sus out if it is a genuine transaction or if they are being victimized.

Charity scams

Unfortunately, the scams do not end after the storm has passed. Every year more and more charity scams pop up. On social media it is very easy to read a sad story and feel compelled to donate to a cause. Prior to making a donation — especially a generous one— guide our members to fact check. If they are requesting a wire or check cut for a charity be sure to check out the charity’s website. You can also check the state’s charity regulator website to see if it is legit. You can find the register for your state here.

Post-Disaster Insurance Scams

There are two varieties of insurance scams. In some cases, members may receive a call from a criminal posing as an insurance agent who will ask for all of their personal information. They may even suggest that they need payment right away to start the insurance claim. This is untrue. Advise members to hang up and call the insurance company directly. Policyholders with the National Flood Insurance program can call 1-800-638-6620.

Another post-disaster scam that can occur in the midst of an emergency is when a member comes upon a fraudulent insurance check. Remember to follow the hold policy and make your supervisor aware if you notice anything suspicious about any monetary instrument.

The most important thing to remember is that members can feel stressed, worried, overwhelmed, and upset before and after a natural disaster. Operating with empathy and understanding, as we always do at Alive, provides our members a special safe haven of security. Stop and think about any of our members requests and guide them towards safe financial practices during this season— just as we do every season.

For more information on hurricane scams, visit the Cybersecurity and Infrastructure Security Agencies website.