With the increased spending and gift-giving that the holiday season brings, it’s also a prime time for scams. Criminals are becoming more sophisticated and continually finding new ways to gain access to your money.
Byline Bank is committed to helping our customers stay informed on how to protect your finances. Keep these tips in mind to stay safe this season:
1. Don’t fall for calls or texts claiming to be from Byline.
Fraudsters can spoof the name that shows up on your caller ID or inbox to make it appear your bank is contacting you. However, Byline Bank will never call, text or email you to ask for things like one-time secure access codes, online banking credentials, or urgent assistance with a fraud investigation.
Be suspicious if anyone contacts you asking about your account or requesting sensitive details that could give access to your account. Instead of responding, call Byline directly at (773) 244-7000.
2. Switch to digital payments and use permanent gel pens.
Every time you write a check, you expose your name, contact information and bank account number. If a criminal gets ahold of your account and routing number, they can stow that information away and easily steal your money by creating counterfeit checks using modern printers and software.
If digital payments aren’t an option and you must gift checks, write with a permanent gel pen. Criminals use chemicals to “wash” checks, erasing and rewriting details to siphon funds into their own accounts. Gel ink is better because it’s harder to remove than standard ballpoint ink.
3. Don’t let mail linger in mailboxes.
Criminals are known to raid mailboxes to steal the checks they alter in check washing schemes. If you’re heading out of town, pause delivery so your mail isn’t sitting in your mailbox overnight. If you’re sending a check in the mail, mail it from a USPS location to ensure it sends safely.
For added protection, go paperless by enrolling in e-statements for your accounts.
4. Add Positive Pay to business accounts.
Checks are often unavoidable for businesses, but our fraud protection services can help mitigate risks. When your business enrolls in Positive Pay—available for checks and ACH—you’re able to approve transactions before they clear your account.
Once enrolled in Positive Pay, be sure to carefully review every check or debit to avoid authorizing fraudulent activity. In any season, vigilance is your best protection.
For more tips on staying safe year-round, visit our Fraud Prevention page.
