Financial scams come in all shapes and sizes. They can spoof major companies. They can spoof minor companies. They can be threatening. They can be confusing.
Above all, the main goal is to scare the user into acting, often without thinking. A user sees money--either money they owe, or money that they can receive--and acts. That's where the trouble begins.
Here's what a standard one looks like.
Axis Finance is a real financial institution, but the email address in the email is a Yahoo account, making this a clear spoof.
Whenever you get an email from a financial institution, there's a few things you can do:
- Be wary of personal banking emails going to your business email address, especially if you've never given your business email address to a financial institution
- Hover over URL to see where the link is headed; do not click if the URL is not your bank's or financial institution
- Call financial institution directly or type their website directly into your browser
