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Scammers are constantly adapting to new ways to try to separate you from your money. One newer tactic that has been gaining traction in 2024 is pig butchering. Pig butchering is a long-con cryptocurrency scam that uses human emotions to prey upon its victims. From 2023 to 2024, the FBI estimates Americans lost nearly $4…
Summer is a time full of fun activities, travel, and excursions. With something exciting always around the corner, it’s easy to become lax when it comes to keeping an eye out for scams. Here are some summer situations that scammers hope to get you on while you’re in “relaxation mode”. Vacation Rental Scam When it…
Picture this: You’re sorting through your bills for the month, and you notice a handful of transactions you don’t remember making. You confer with other members of your family and they don’t recognize the set of transactions either. What could have happened? Unfortunately, your identity may have been compromised. What is identity theft? Identity theft…
Most everyone browses online, completes tasks using the internet, or watches videos to learn a new skill or hobby. Life nowadays entails a huge digital focus, which certainly has its advantages, but also has new challenges. In 2022, Avast reported 50% of people use the same password, there was a 61% increase in phishing attacks,…
Effective July 1, 2024, Connecticut is taking proactive steps against Elder Financial Abuse. In August 2023, Governor Ned Lamont signed into law Public Act 23-161, an act that encourages financial institutions to be watchful in identifying elder financial abuse cases. It permits banks and credit unions to suspend or hold transactions on an account for…
A scam can occur in many different forms. Whether it’s a romance, apartment/vacation rental, utility, family emergency or prize scam, fraudsters are out to get your money, and they act fast. Scammers are inclined to use wire transfers because they are finalized quickly, and it is difficult for the victim to get their money back…
2023 marked the first-time fraud losses amounted to $10 billion nationwide, a 14% increase over 2022. The top avenues of loss were investment scams, imposter scams, cryptocurrency, and bank transfers. It was reported that email was the top method to reach potential victims. In an environment that’s constantly changing, it’s important to employ empathy to…
Chelsea Groton Bank is providing FREE secure document shredding services this Spring, to protect confidential information and avoid identity theft. New this year is the addition of a Shred Day that includes secure hard drive (HD) destruction. “The number of people who are victimized because sensitive data is stolen continues to rise,” said Chrissy Caplet,…
In 2023, we covered a vast array of fraudulent scams and ways to protect yourself. Ranging from cyber hygiene, tech support scams, to pig-butchering and romance scams– fraudsters are constantly adapting to find new ways to prey on human vulnerability. As much as we wish fraudsters would take a break, it’s best to remain diligent….
Scammers are getting smarter at how they try to steal your hard-earned money, which means businesses need to get tougher in how they defend accounts and keep their business accounts safe. Some scammers are even going as far as creating fictitious websites to try to capture online banking log-in credentials. To ensure you never enter…
