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As our loved ones age, they may become more vulnerable to financial exploitation and unfortunately, are often targeted by fraudsters. They tend to have more accumulated wealth than younger populations, making them attractive targets. But with awareness, empathy, and action, we can help protect them. Why Are Older Adults at Risk? Several factors can contribute…
Every day, thousands of people fall victim to fraudulent emails, texts and calls from scammers pretending to be their bank, a loved one, the government or law enforcement. And in this time of expanded use of online and mobile banking, the problem is only growing. In fact, the Federal Trade Commission’s report on fraud estimates…
Let’s talk about something that’s becoming all too common: investment scams. They’re sneaky, convincing, and designed to make you feel like you’re making a smart financial move. In reality, you’re being set up to lose money. It Starts with Trust Scammers are clever. They often start by building a connection. Maybe they say they’re part…
Imagine getting a video message from your boss asking you to wire money urgently. It looks like them, sounds like them—but it’s not them. Welcome to the world of deepfake scams, where artificial intelligence (AI) is being used to impersonate trusted individuals with alarming accuracy. In response to this growing threat, the American Bankers Association…
Technology is woven into nearly every part of our lives—and that includes our children’s lives, too. From educational apps to social media, kids are growing up in a digital world. That’s why it’s so important for parents to start conversations about online safety early and keep them going as children grow. Whether your child is…
As technology continues to evolve, so do the tactics scammers use to target vulnerable individuals — especially seniors. But there’s good news: AARP’s Fraud Watch Network was created to help protect you and your loved ones. Explore the platform: AARP Fraud Watch Network What Can the Fraud Watch Network Do for You?Whether you’re a senior…
In today’s digital age, maintaining good cyber hygiene is crucial to protect your personal and professional information from cyber threats. Here are five essential practices to ensure your digital life remains secure: 1. Keep Software Up to Date Regularly updating your software is one of the simplest yet most effective ways to protect your devices….
Chelsea Groton Bank is proud to join forces with the Independent Community Bankers of America® (ICBA) in partnership with the U.S. Postal Inspection Service on an initiative to help customers protect themselves from the growing threat of check fraud. In support of this initiative, Chelsea Groton Bank offers educational materials and personal guidance to ensure…
By Patty Dupre, Operations and Security Risk Analyst, and Alexis Kahn, Cash Management Sales Manager at Chelsea Groton Bank At Chelsea Groton Bank, our Cash Management and Security teams review countless checks and electronic transactions each day. Based on our experience reviewing, detecting, and preventing fraudulent checks from passing through, here are some tips for…
In 2023, the FTC reported a staggering $1.14 billion in losses due to romance scams. However, the actual losses are likely even higher, as these scams are notoriously underreported. Romance scams aren’t just confined to dating sites; they’re also prevalent on social media platforms like Facebook and Instagram. In fact, 40% of reports indicated that…
