RCB Blog

Money mules are people who receive and move money obtained from victims of fraud. Some money mules know they’ve been recruited to assist criminal activity, but others become money mules without realizing their activity is benefiting fraudsters. Money mules help international criminal networks steal money from senior citizens, businesses, and people just like you. 

‘Tis the season of gift giving. Before you start making lists and checking them twice, give yourself the gift of cyber safety! According to the National Retail Federation, 73% of consumers plan to use their smartphone or tablet to research or make a purchase this holiday season. Don’t let cyber grinches turn merriment into mayhem.

Every day, thousands of people fall victim to fraudulent emails, texts and calls from scammers pretending to be their bank. And in this time of expanded use of online and mobile banking, the problem is only growing worse.

As part of its annual Get Smart About Credit campaign, the American Bankers Association (ABA) Foundation is providing consumers with information on common scholarship and student loan scams and tips on how to avoid falling victim.

Corporate account takeover is a type of fraud where thieves gain access to a business’ finances to make
unauthorized transactions, including transferring funds from the company, creating and adding new fake employees
to payroll, and stealing sensitive customer information that may not be recoverable. The Georgia Bankers
Association and American Bankers Association recommend following these tips to keep your small business safe.

As more consumers move to online banking in the wake of the pandemic, criminals are looking for ways to take advantage of unsuspecting individuals, particularly older Americans who are often targeted by fraudsters. In fact, older Americans were particularly hard hit with total losses for those 50 and older exceeding $1.8 billion, according to FBI data for 2020.

Banks use a variety of safeguards to protect your information and prevent fraud, such as special fraud detection software, sophisticated computer security systems, employee training and strict privacy policies. As an account holder, you play a role in protecting your money and information, too. Here are some important tips for consumers.

Every day, thousands of people fall victim to fraudulent emails, texts and calls from scammers pretending to be their bank. And in this time of expanded use of online banking, the problem is only growing worse. 

Businesses face significant financial loss when a cyber attack occurs. In 2019, the U.S. business sector had 17% increase in data breaches: 1,473 breaches.* Cybercriminals often rely on human error—employees failing to install software patches or clicking on malicious links—to gain access to systems.

Keep your firewall turned on. A firewall puts a protective barrier between your computer and the Internet. Turning it off for even a minute increases the risk that your PC will be infected with malware.