Blog

Written by Andrea Klinedinst, Executive Administrative Assistant

If you’ve been with us for a while, you know that a portion of our newsletter has been dedicated to fraud education, and we frequently post on our social media pages about fraud awareness and current known scams that may affect you. That’s because we want to help you be informed and stay safe as fraud and scams continue to grow.

So, this time around, we want to test your knowledge about fraud and safeguards. Answer True or False to these 10 statements and then scroll down to see the correct answers and some helpful reminders.

1. I can easily set up transaction alerts on my debit card or bank accounts.
2. MNB will text me a link when there is a problem on my account or with a transaction.
3. Scammers only target people age 65 and older.
4. Scams involving email only target large businesses.
5. I should use long, unique passwords for all of my online accounts.
6. One of the best ways to ensure there is no fraud on my bank account is to check it daily.
7. Multi-factor Authentication does not make my account any more secure than a password.
8. Sharing personal information or location on social media or through email or text can make me a target for scammers.
9. Using public wifi is safe and free.
10. I should immediately report any suspected fraud on my bank account to my financial institution.

ANSWERS:

1. I can easily set up transaction alerts on my debit card or bank accounts.

True! With MNB’s mobile or online banking, you can easily set up alerts on your debit card and even on your account to know when your card has been used or when money has been withdrawn or deposited.

2. MNB will text me a link when there is a problem on my account or with a transaction.

False! MNB will not text you asking you to click on a link or to call us at a foreign number or to give us any of your banking information. If you receive a text like this, please inform us immediately so we can make others aware of the scam text.

3. Scammers only target people age 65 and older.

False! Though in the past it was generally believed that scammers target people over 65 more often, that is not necessarily the case anymore. Scammers target people of all ages, and the Federal Trade Commission reported that in 2024, more people age 20-29 reported losing money than people age 70+; however, the losses for people 70+ resulted in a higher dollar amount. No matter our age, it’s up to each of us to continue to be diligent and spot the scam before giving any information away.

4. Scams involving email only target large businesses.

False! Scams involving email can affect anyone with an email address. Scammers have tools that generate email addresses, or they can even purchase lists of email addresses. With these lists, they can send out mass scam emails hoping that people fall for it. That’s why everyone should know how to spot red flags in email messages. Some common red flags include urgency/time limit, multiple spelling errors, and suspicious links. You may even find an email has an incorrect recipient (e.g., you receive an email where the “To:” line contains an email address that isn’t yours) or an incorrect email domain name (e.g., MNB’s email addresses end in “@midnatbank.com” and a scam email could end in something like “@mid-nat-bank.com”).

5. I should use long, unique passwords for all of my online accounts.

True! Using long, unique passwords for each of your online accounts makes it harder for a scammer to guess your password, and it also ensures that if one of your accounts is involved in a data breach, then all your accounts aren’t compromised.

6. One of the best ways to ensure there is no fraud on my bank account is to check it daily.

True! With MNB’s mobile or online banking, you can log in every day and quickly glance over your accounts to make sure that every transaction is one that you initiated or are aware of. It is always a good idea to check your monthly statements for any suspicious activity as well, but the sooner you catch fraud on your account, the better!

7. Multi-factor Authentication does not make my account any more secure than a password.

False! Multi-factor Authentication provides a second layer of protection between your account and a scammer. By adding a trusted device, like a cell phone, or a secure email address, you can not only receive a message or code for your login, but you can tell if anyone else is trying to log into your account as well.

8. Sharing personal information on social media or through email or text can make me a target for scammers.

True! Sharing private personal information such as your SSN or banking account numbers is always a bad idea, no matter if it is on social media or through email or text. If someone is asking for your information this way, they are likely not legitimate. Scammers can also use other personal information to send you targeted scam emails or to guess your security questions. Be wary of what you share online, and never give out your sensitive information.

9. Using public Wi-Fi is safe and free.

False! While using public Wi-Fi may be free at the time, it could cost you more in the long run. Any passwords or banking information that you enter on a public Wi-Fi network is susceptible to bad actors. If you can access that Wi-Fi network, so can they, and they can use tools to gather any information you send across the network. It is always a good idea to avoid public Wi-Fi if you have to enter sensitive information and to use a VPN (Virtual Private Network) if you can.

10. I should immediately report any suspected fraud on my bank account to my financial institution.

True! Unfortunately, we see fraud every day, but we know how to handle it. The earlier it is caught, the better it is for you to minimize any financial losses. You don’t need to hide the fact that you fell for a scam. The scammers are unfortunately good at what they do, and they are only getting better and acting more frequently. We just want to help keep you and your finances safe!

So how did you do? Did you know how to tell which of these statements were true and which were false? Scams come in all kinds of forms, and not just online. They can come from people over the phone or even from people in person. We have a lot of information on different types of scams on our website and in all our banking locations. Being diligent and informed and utilizing safeguards are the best ways to protect yourself from scammers. As always, we are here to help. If you suspect you are a victim of fraud on one of your accounts, do not hesitate to call us at 877-647-5050. Be informed and stay safe.