Katahdin Trust joined the American Bankers Association and banks across the nation to promote an industry-wide campaign educating consumers about the persistent threat of phishing scams. The Federal Trade Commission estimates that consumers lost $8.8 billion to phishing and other fraud in 2022, an increase of more than 65 percent compared to 2021. To combat phishing, the award-winning #BanksNeverAskThat campaign uses attention-grabbing humor and other engaging content to empower consumers to identify bogus bank communications asking for sensitive information like their passwords and social security numbers.
“It’s really important that both individuals and businesses are careful about sharing confidential information over the phone, text, email, and online,” explains Andrew Putnam, vice president, chief information officer at Katahdin Trust. “Never provide things like your social security number, birthdate, account number, debit card number, password, or mother’s maiden name unless you’re the one who started the conversation and you’re absolutely certain that the person you’re talking to is trustworthy.”
Other common scams to watch out for:
- Being asked to send money first with the promise of getting payment in return or double your investment.
- When someone is persistent on having you send money and tells you not to tell the bank.
- Sending a wire or cryptocurrency to someone you have never met before, especially urgent requests.
- Allowing remote access into your computer to perform a fix or remove a virus.
- Receiving a call from someone claiming to be from the bank or fraud department asking for personal information.
- Messages with misspellings and grammatical errors.
“By impersonating a bank, a scammer can steal thousands of dollars with just one text message, phone call or email,” said Paul Benda, senior vice president, operational risk and cybersecurity at ABA. “With the strong support of participating banks like Katahdin Trust, the #BanksNeverAskThat campaign seeks to turn the tables by arming consumers with the information they need to outsmart the scammers and protect their money.”
Katahdin Trust, along with banks from across the U.S., joined forces with ABA to kick off this year’s updated campaign on Oct. 2 to mark the beginning of National Cybersecurity Awareness Month. Throughout the month Katahdin Trust will share eye-catching and engaging short videos and consumer tips on social media designed to highlight common phishing schemes as well as on local radio stations. Because cybersecurity education and fraud awareness can often be dull and forgettable to many consumers, the #BanksNeverAskThat campaign is designed to be bright and bold with a bit of comedy.
“Would you rather give up sugar or salt?” one of the campaign’s social media posts asks users. “Banks texting you about sweet vs savory would be just as weird as banks texting you a link to login, ‘cause #BanksNeverAskThat.”
The campaign’s short videos offer similarly ridiculous scenarios like wallpapering a room with cash, roasting marshmallows over a cash fire and recycling cash on garbage day to remind people they stand to lose real money if they aren’t vigilant. Consumers are directed to BanksNeverAskThat.com where they will find a new interactive quiz, the “Scam City” video game, engaging videos, and tips on how to spot phishing scams. This year, the campaign is also offering a Spanish language version of the website, BancosNuncaPidenEso.com, and providing a host of other #BanksNeverAskThat consumer resources in Spanish.
For more information about phishing scams and how to stop fraudsters in their tracks, visit www.BanksNeverAskThat.com.
If you believe you have fallen for a scam, contact your local bank branch immediately.
Founded in 1918, Katahdin Trust is a community bank based in Houlton, Maine with more than $1 billion in assets and nearly 180 employees. The Bank offers financial services to individuals and businesses from 16 bank branch locations throughout northern Maine and the greater Bangor and Portland regions with a suite of digital and online banking solutions. Katahdin Trust is designated as a 2023 “Best Places to Work in Maine”, 2023 Best Place for Working Parents®, and one of American Banker’s Top 200 Community Banks in the U.S. The parent company of Katahdin Trust, Katahdin Bankshares Corp, common stock is quoted on the OTC Markets (OTCQX) under the symbol KTHN. Learn more about the Bank at www.katahdintrust.com and follow Katahdin Trust on Facebook, X, LinkedIn, and Instagram.