Email scams are on the rise and have increased 111% from 2018 to 2022, with losses totaling over $2.7 billion in 2022, according to the FBI Internet Crimes Report.

Using social engineering, email scammers gain the trust of a targeted person with the goal of getting them to send funds to a different person or entity than originally intended. Here are some things to know about email scams, so you can help protect yourself and your assets.

How they target you

Scammers typically interject themselves into your normal transactions to change the destination of the funds.

Common occurrences include:

1. Real estate closings: Scammers will impersonate the identity of the title/real estate agent, or closing attorney, and send different payment details.
2. Vendor impersonation: They can also pose as representatives of a company or government agency and advise that an invoice must be paid immediately to avoid a negative consequence. They often ask for a wire transfer to a fraudulent bank account or other means of payment, such as a check or ACH transfer.
3. CEO/executive impersonation: Scammers will also impersonate the CEO or executive of a company. They request that an employee within the accounting or finance department transfer funds to an attacker-controlled account

What to know and do

Knowing what to do and what to look for is critical to avoid becoming a victim of an email scam.

Account changes: Always verify and confirm details with the parties involved, especially with messages regarding funds transfers. Some email scammers use hacked email accounts, so it’s important to use a different method to verify that the sender is not a scammer. You can call or text an associated phone number or interact on a trusted mobile app or chat channel.

Email sender validation: Scammers can also use fraudulent email addresses that closely resemble a legitimate email address that you may have been communicating with previously. The addition or removal of a single character in an email address may be difficult to spot at first glance:

• Go‍og‍le‍.‍co‍m vs. Google.corn‍:‍ In this case, the scammer replaced .com with .corn, with the letters “r” and “n” replacing the letter “m”
• JONDOE@BUSINESS vs. JON.D0E ‌@‌ BUSlNESS‍: For this example, the scammer used a zero instead of a capital O, and added a period in between “JON” and “D0E”. They also used a lowercase “L” in place of the capital “i”

Urgent or priority emails: Emails may contain a header in the subject line or phrases in the content of the email, such as “urgent” or “confidential.” If you receive an email marked urgent or confidential, please review it carefully for accuracy and reach out directly to the individual to validate the request.

Bookmark our new site, citi.com/fraudprevention, and visit often for the latest updates on common scams and how to spot them.

Remember: When in doubt, do not act.

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Mount Rushmore is one of the United States’ most recognizable landmarks, but it contains a hidden secret: a 70-foot-long tunnel located behind Abraham Lincoln’s head. The tunnel was created as the entrance to a Hall of Records conceived by sculptor Gutzon Borglum. The idea was to build a chamber inside the monument that housed important documents such as the Constitution and Declaration of Independence, which would be accessible by an 800-foot granite stairway that stretched up the mountain from Borglum’s studio to the chamber. Work began on the Hall of Records in July 1938 as crews constructed the 70-foot tunnel. However, in 1939, Congress halted work on the chamber and instructed Borglum to focus on carving the Presidents’ heads instead. Borglum died two years later in 1941, effectively putting an end to the side project and leaving the Hall of Records unfinished.

Almost 60 years later, the Mount Rushmore National Memorial Society brought part of Borglum’s vision to life, installing a box at the chamber’s entrance containing 16 porcelain enamel panels. The panels explain the story of the United States and include biographies of the Presidents featured on Mount Rushmore. They were sealed beneath 1,200 pounds of granite capstone as an homage to Borglum’s initial vision.

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Eat the Frog

According to a famous quote attributed to (but probably not actually spoken by) Mark Twain, “If the first thing you do each morning is to eat a live frog, you can go through the day with the satisfaction of knowing that that is probably the worst thing that is going to happen to you all day long.” Put in simpler (and less gross) terms, get your most difficult task out of the way as early as possible so that it doesn’t hang over your head all day and you know, even on an off day, that you accomplished something. What that task is up to you — if you work from home and are prone to being sedentary, maybe it simply means working out shortly after waking up rather than waiting until the evening. The truly important thing is to start your day with a feeling of accomplishment rather than procrastinating for as long as possible.  “Wishing you a bless productive Day”

The last sentence I added.

Ann

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When you head to the gas station does indeed make a difference. Filling up your tank early in the morning or late at night can save you some money over time, but not because prices are lower at different times of day — it’s because of temperature. Gas expands when heated, meaning filling up in the middle of the day, when the temperatures tend to be highest, could result in paying more for less gasoline. 

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Did you know?

The microwave was invented by accident.

During World War II, Allied forces gained a significant tactical advantage by deploying the world’s first true radar system. The success of this system increased research into microwaves and the magnetrons (a type of electron tube) that generate them. One day around 1946, Percy Spencer, an engineer at the aerospace and defense company Raytheon, stepped in front of an active radar set and noticed, to his surprise, that microwaves produced from the radar melted a candy bar in his pocket. After getting over his shock — and presumably cleaning up — Spencer conducted a few more experiments using eggs and popcorn kernels, and realized that microwaves could be used to cook a variety of foods. Raytheon patented the invention a short time later, and in 1947, the company released its first microwave.

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1. Awareness: If you have a cell phone, it is set up to send you Wireless Emergency Alerts (WEA) warning you of impending danger. Public alerts will also come through your television.

2. Establish family meeting spots: It’s important to stick together in an emergency. You will need four different meet up places: (a) In the event of a natural disasters, like a tornado or a hurricane, there needs to be an in-home meeting spot in (a) a windowless room, closet or bathroom, a safe room, or a basement. (b) There needs to be a pre-determined neighborhood meeting spot; i.e., a tree, the end of a driveway, or a neighbor’s house. (c) A regional meeting spot is needed; i.e., a school, a church, a community center, or a relative’s house. (d) In case of an evacuation, you will need an out-of-town meeting spot; i.e., the home of relatives or friends, a hotel, or a landmark.

3. Develop a family communication plan: In emergency situations, cell phones and text communication usually work better than email and landlines. Make sure everyone has everyone else’s contact information, including out of town contacts.

4. Everyone will need proof of identification: name, Social Security, blood type, medical information, medical contacts, medical insurance, list of needed medications, family contact information, emergency contact persons, etc. One way to do this is for everyone to have an ICE (“In Case of Emergency”) card. See www.GetICECard.com. It is also a good idea to have family member’s ICE information stored in your cell phones.

Information courtesy of http://www.jimsdailyawakenings.com/webdisplay.cfm?jdaid=3030 and edited for clarity.

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