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Every day, thousands of people fall victim to fraudulent emails, texts and calls from scammers pretending to be their bank. In fact, the Federal Trade Commission’s report on fraud estimates that American consumers lost a staggering $3.3 billion to these phishing schemes and other fraud in 2020—that’s nearly double what was lost in 2019.

It’s time to put scammers in their place. Online scams aren’t so scary when you know what to look for. And at Watertown Savings Bank, we’re committed to helping you learn how to spot them as an extra layer of protection for your account. We’ve partnered with the American Bankers Association in an effort to fight phishing—one scam at a time.

We want every bank customer to become a pro at spotting a phishing scam—and stop bank impostors in their tracks. It starts with these four words: Banks Never Ask That. Because when you know what sounds suspicious, you’ll be less likely to be fooled.

These top 3 phishing scams are full of red flags:

  • Text Message: If you receive a text message from someone claiming to be your bank asking you to sign in, or offer up your personal information, it’s a scam. Banks never ask that.
  • Email: Watch out for emails that ask you to click a suspicious link or provide personal information. The sender may claim to be someone from your bank, but it’s a scam. Banks never ask that.
  • Phone Call: Would your bank ever call you to verify your account number. No! Banks never ask that.

If you’re ever in doubt that the caller is legitimate, just hang up and call WSB directly at a number you trust (617-928-9000). You’ve probably seen some of these scams before. But that doesn’t stop a scammer from trying.

For more tips on how to keep phishing criminals at bay, including videos, an interactive quiz and more, visit www.BanksNeverAskThat.com.

What’s Your Scam Score? Take five minutes to become a scamspotter pro by taking the #BanksNeverAskThat quiz at BanksNeverAskThat.com. The more scamspotters out there, the harder it is for phishing criminals to catch their next victim!

Over the next several weeks, during October's Cybersecurity Awareness Month, we'll be sharing tips and tricks on how to spot fraud and phishing schemes. Stay tuned!

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