Standing Guard Against Fraud
We are committed to protecting our customers’ financial information. In addition to taking every precaution against fraud, we want to equip you with reliable, convenient ways to keep your accounts secure.
Electronic and check payment fraud, cyber security and other similar types of fraud have led to large losses and major legal costs to many businesses. Minimize your risk of business check fraud and the chances of having account information compromised with C&F Bank’s business fraud prevention solutions. Learn more
Important message from C&F Bank
Check fraud is increasing in all banks across the nation and here in Virginia at an alarming rate. Hear from Matthew Steilberg, Director of Retail Banking on what you can do to protect yourself. If you have any questions or would like to know more about these or other services we offer please contact us here.
Stay Safe with C&F Fraud Awareness Topics
Stay Safe with the C&F Mobile Banking App
At C&F, we believe that the C&F Mobile Banking App is our customer’s best friend. Paper (i.e. checks, statements) can easily be manipulated by the fraudster, we encourage all of our customer’s to utilize these secure features of our Mobile Banking App:
Touch ID and Face ID Login
Login with your unique fingerprint or facial recognition to avoiding the risk of a password being stolen.
Customize real-time alerts to notify you when transactions are being conducted on your account.
Lock and Unlock your debit card in real-time, if you misplace or fear that it may be stolen.
eStatements and Bill Pay
Eliminate risks by signing up for electronic delivery, choosing when you want to receive and view your statements. Pay your bills conveniently all in one place-without sacrificing security.
Deposit checks directly into your account, right at your fingertips with our mobile deposit capability.
Business Check Fraud is On the Rise!Check fraud is a real—and costly—risk.
We are proud to serve a wide range of businesses, including not-for-profits, yet all have one thing in common: the threat of fraud. Unfortunately, criminals are actively scheming ways to steal from business accounts and it’s important that we hear from you within 24 hours of a suspected fraudulent item posting to your account or it’s unlikely your funds will be recovered.
What is check fraud? Check fraud occurs when a criminal manipulates a legitimate business check for their own benefit OR when the fraudster simply steals the information necessary to create a counterfeit check. Many times, the perpetrator then negotiates the bogus check through an out-of-state bank. Here are a few examples of what this fraud can look like.
C&F Bank is dedicated to staying on the cutting edge of fraud detection and protection services and keeping best practices in place. We are working hard to protect your business and you can play an active role, too.
Here are steps that you can take to protect your account:
We’re always here to help if you have concerns about fraud, and it’s important that you contact us within 24 hours of a suspected fraudulent item posting to your account or it’s unlikely your funds will be recovered.
Please call or visit your local C&F Branch or call our Customer Support Team at 800.296.6246 if you have questions about these tips or the fraud prevention services available to you through C&F Bank.
ATM skimming occurs when an unauthorized electronic device is placed on an ATM, scooping information from a bank card’s magnetic strip whenever a customer uses the machine. ATM skimming is a growing criminal activity that some experts believe costs U.S. banks hundreds of millions of dollars annually.
How skimming works
The devices planted on ATMs are usually undetectable by users, as the makers of this equipment have become very adept at creating them, often from plastic or plaster, so that they blend right into the ATM’s façade. The specific device used is often a realistic-looking card reader placed over the factory-installed card reader. Customers insert their ATM card into the phony reader, and their account info is swiped and stored on a small attached laptop or cell phone—or sent wirelessly to the criminals waiting nearby.
In addition, skimming typically involves the use of a hidden camera, installed on or near an ATM, to record customers’ entry of their PINs into the ATM’s keypad. There have also been reported instances in which, instead of a hidden camera, criminals attach a phony keypad on top of the real keypad. It records every keystroke as customers punch in their PINs.
Skimming devices are installed for short periods of time—usually just a few hours—so they’re often attached to an ATM by nothing more than double-sided tape. They are then removed by the criminals, who download the stolen account information and encode it onto blank cards. The cards are used to make withdrawals from victims’ accounts at other ATMs.
How to Avoid being Skimmed
What is wire fraud?
Wire fraud is any event where an individual is tricked into sending money via wire transfer to a fraudster. Fraudsters use urgency in their scams to put pressure on victims to gain quick access to funds.
Here are the two of the most common wire fraud scams.
Real Estate Transactions:
Fraudsters use online real estate shopping tools to seek out transactions getting ready to close. They will then hack into an email account and send wire transfer details to unsuspecting buyers.
Fraudsters predominantly exploit their potential victims who freely post details about their lives and personalities on dating sites. These scams will often involve the victim wiring money to the fraudster.
Additionally, businesses should be vigilant if a vendor changes payment instructions via email for this could be an attempt of business email compromise.
Preventing Child Tax Credit SCAMS
What to Know: Incoming Child Tax Credit Vs. Child Tax Credit SCAMS
Many of our C&F customers will begin receiving Child Tax Credit direct-payments into their accounts, as part of the Federal Government’s American Rescue Plan. Below is further information about these payments and how you can protect yourself from SCAMS.
Beware of unsolicited communication
Phishing is an online scam where criminals send customers fraudulent emails, phone calls and texts that appear to be from their bank. Every year, thousands of people lose hundreds to thousands of dollars to these types of scams. The content in these fraudulent scams are intended to trick you into sharing confidential information like account numbers, passwords, or PINs.
What should you do if you receive a phishing communication?
Email or Text:
Person to Person Payment Scams
Person to Person Payment Scams
Zelle, the service that allows our customers to instantly send money to their friends and family. The features that make Zelle so useful for customers, also make it irresistible to thieves. At C&F is committed to providing our customers with the best products, but we also must work to educate and keep your accounts safe. These Zelle tips will help better protect you and your accounts.
Do not use Zelle to purchase retail products.
Check the username, email and phone number of the person with which you are conducting the transaction.
Always Opt-in for stronger security
Cashier's Checks can’t be fraudulent, can they? Absolutely!
Fraudsters use Cashier’s Checks because they are seen as safe and guaranteed. Fraudsters do this by washing checks, using software to create their own check, or altering a legitimate check. Here are signs to beware of:
If you are unsure if a check is legitimate, its always a good idea to call or visit the bank before cashing or depositing a cashier’s check. If you fall victim to this type of scam, report it immediately to the bank where you deposited the check and the supposed bank who issued the check.
Holiday Shopping Tips
Holiday Shopping Tips
The holiday season is quickly approaching and with it, holiday shopping. You can expect to see special sales from retailers and sneaky scams from cybercriminals. During the holiday season, cybercriminals may try to trick you with spoofed apps and malicious email attachments.
Watch Out for Spoofed Apps
Today, it’s common for retailers to have mobile apps that offer exclusive discounts and allow you to make purchases from your device. Cybercriminals can create spoofed apps that look like they’re from a legitimate retailer. These spoofed apps will even allow you to place an order. But instead of receiving your item, you’ll be delivering your payment information to cybercriminals.
Watch Out for Malicious Attachments
Many retailers will send coupons and shipping information through email attachments. Cybercriminals often impersonate legitimate retailers’ emails to send malicious email attachments. These emails prompt you to act quickly to receive a discount or even free items. But if you download any of these attachments, the only free thing you're likely to get is malware.
What Can I Do to Stay Safe?
Follow the tips below to stay safe from shopping scams this holiday season:
Grandparent Scams are carefully crafted scams targeted specifically towards older Americans. One common scam is when a fraudster calls claiming to be a family member in need of urgent assistance. This urgency triggers the elder to quickly make action, such as wire funds to help their family member out of their claimed immediate danger. Once the money is wired, the victim later finds out that it wasn’t their family member but a scam!Here are tips to keep you or a family safe from Grandparent Scams.
Identity theft is the use of another person’s identity for economic gain. Anyone can be a victim of identity theft, and people often put themselves at risk unknowingly.
One common method involve thieves using existing accounts to make purchases, pay for services, or withdraw money. Another tactic is to open new accounts/service agreements with stolen information.
Protect your account from fraud with C&F Real-Time Alerts
C&F Bank works hard to protect our customer’s accounts from fraud. Over the years we’ve seen instances where fraudulent activity could have been avoided with just a few easy precautionary measures in place.
How do we prevent the losses from continuing? Applying C&F Real-Time Alerts to your personal or business account is an easy solution to help detect fraudulent activity.
What are Real-Time Alerts?
This feature allows you to pre-set alerts to arrive via phone text message, email, or within Online Banking at no charge.
View our Personal Digital Service Guide or Business Digital Service Guide below. This is a printable resource that gives step-be-step instructions on how to add Real-Time Alerts to your personal or business account.
Of course, if you need further assistance in adding C&F Real-Time Alerts to your account, please give us a call at 800.296.6246 or visit one of our locations and a C&F Bank representative would be happy to help you get them set up.