One of the most recent phone scams involves a criminal placing a phone call from a bank’s “fraud department” to a consumer claiming a fraudulent charge on their account, according to a recent Reddit thread. In this scam, the caller ID for the call shows the bank’s name, making it easier to scam even the savviest customer.
Scammers are getting more creative and continue to scam consumers at an alarming rate. That said, here are some proactive ways to protect your customers from scammers (both over the phone and electronically):
- Offer transactional alerts. Many organizations (especially in the financial market) now provide customers with the opportunity to set up alerts such as email, push notifications and/or SMS. My own personal alerts on my checking account, for example, are set to send me an immediate push notification with every transaction made.
- Implement two-factor authentication. Two-factor authentication, a security measure that requires more than a customer’s username and password to gain access to personal information is a critical element in protecting your customers. Be sure that you communicate with customers that while this will help protect them from scammers, they still should be mindful of any phishing emails or texts that appear to be from your organization.
- Ensure brand consistency across all customer communications. In doing this, you will minimize the risk of customers falling prey to scammers because they are less likely to click on a link or pick up a phone call if those suspicious communications do not match your brand.
- Utilize the white space on your customer communications (print and electronic statements, letters, notices etc.). This will give you an opportunity to provide instructions on how to handle suspicious activity or data compromise, as well as contact information.
While these solutions are not 100% foolproof, they will help you protect your customers from scammers, therefore strengthening their loyalty to your brand and improving your bottom line. Learn how Lanvera can give you the tools to effectively communicate the latest scam signs and instructions by contacting us.