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Account Takeover Fraud

Bank Securely: What is Social Engineering?

Social engineering is the use of manipulation to trick users into giving away sensitive information or making security mistakes. This is most often performed via email, phone calls, or text messages. The attacker will often disguise themselves as a financial institution, trusted friend or relative, or government agency (Social Security Administration, for example.)
Please note: Midwest BankCentre will periodically contact you via text, email, or automated message to verify a potentially fraudulent transaction. In these instances, we will never ask you for sensitive information such as your online banking credentials. We will also never ask you to provide us with your two-factor authentication code.

How Can I Tell if a Call, Email, or Text is Social Engineering?

1. It comes from an unknown phone number:
If you do not recognize the sender or caller, proceed with caution. Always ask questions to ensure you know who is contacting you, and why they are reaching out. 
2. Automated calls or messages:
Scammers will often reach out via an automated number with requests to follow prompts, or answer questions. Unless you have specifically asked to be contacted, it is best to ignore these requests and hang up. Do not click any links in an unknown email or text message as there may be links to a malicious website. 
3. Calls or messages that request personal or financial information:
Your bank, and most other institutions will never ask you for your account number, personal information, or any passwords. Do not provide your online banking credentials or account information to anyone.
4. A sense of urgency:
Social engineering attempts frequently try to lure people in with gifts or threats. These are typically time-sensitive, and the messaging is meant to manipulate emotions. 

Who Should I Contact If I Feel I am a Victim of a Social Engineering Attack?

  • If you are uncertain whether the message or call you have received is legitimate, contact your financial institution immediately. At Midwest BankCentre, we are always happy to clarify why you are being contacted.
  • If you have determined that a phone number belongs to a scammer, be sure to block this number from future attempts.

Always report any suspicious activity if you feel you have fallen victim to Midwest BankCentre using this phone number: (800) 894-1350.
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