What is Fraud?

Fraud is wrongful or criminal deception intended to result in financial or personal gain.  In current business and electronic environments, fraudsters use various methods to trick you out of your personal and financial data, and use it for their own advantage.  The variety of methods used by these skilled fraudsters may or may not involve the use of technology.  BOB recommends in all cases that your Be Alert, as these fraudsters may for example:

  • steal your wallet or pocket-book, or even trash, which may contain confidential information like your identification, cards or financial information;
  • send you an email, which appears reputable and ask you to reply, or visit a website or call a fraudulent number – in an attempt to get you to provide personal or private information.  The email may even include some accurate information to support the request to convince you to reply;
  • present you with a fake website that appears valid and request that you provide private or personal information there;
  • redirect your internet browser’s request for a valid website to a fraudulent site for the purpose of collecting your personal information;
  • hack your computer and/or infect your computer with malware, to capture passwords, account numbers and other private data to try to get into online banking accounts;
  • steal or use your laptop, smartphone or digital device to acquire and use any unsecured data to try to access online banking accounts.