MONTGOMERY – Walden Savings Bank joined the American Bankers Association and banks across the nation in launching a first-of-its-kind, industry-wide campaign to educate consumers about the persistent threat of phishing scams. The FTC estimates that consumers lost $1.9 billion to phishing schemes and other fraud in 2019 and the ongoing pandemic has only increased the threat. To combat phishing, the #BanksNeverAskThat campaign uses attention-grabbing humor and other engaging content to empower consumers to identify bogus bank communications asking for sensitive information like their passwords and social security numbers.
“Protecting our customers is a priority at Walden Savings Bank. From their physical and financial health to helping shed light on common fraud schemes, we are constantly looking for ways to make sure our customers are safe,” said Derrik Wynkoop, President and CEO of Walden Savings Bank. “We are proud to partner with the American Bankers Association to help educate our community with this important initiative.”
“This campaign is an unprecedented effort by the banking industry to address a growing threat to our customers,” said Rob Nichols, ABA president and CEO. “Thanks to participating banks like Walden Savings Bank, we’re turning the tables on the bad guys by giving consumers the tools they need to spot illegitimate bank communications.”
Walden Savings Bank, along with banks across the country and ABA, simultaneously launched the campaign on Oct. 1 to mark the beginning of National Cybersecurity Awareness Month. Throughout the month Walden Savings Bank will share eye-catching, engaging short videos and consumer tips via social media and their monthly newsletter. Because cybersecurity education and fraud awareness can often be dull and forgettable to many consumers, the campaign is designed to be bright and bold with a bit of comedy.
“Do you prefer boxers or briefs? Do you believe in aliens?!,” one of the campaign’s animated GIFs asks social media users. “Banks would never ask you these questions. Here’s another question a real bank would never ask: We’ve spotted some unusual activity on your account, can you please verify your username and password?”
The campaign’s short videos offer similarly ridiculous questions that banks would never ask and direct consumers to BanksNeverAskThat.com for more information. At that website, consumers will find the #BanksNeverAskThat quiz, videos, phishing red flags, tips and FAQs.
For more information about phishing scams and how to stop fraudsters in their tracks, visit www.BanksNeverAskThat.com.
About Walden Savings Bank
Walden Savings Bank, established in 1872, is the 11th oldest federally chartered mutual savings bank headquartered in Montgomery, New York. With a total of 11 full-service branches serving Orange and Ulster Counties and a Loan Production office in Dutchess County, the Bank’s progressive style of community banking provides products that cater to both the individual and the growing mid-size business. Walden Savings Bank is rated 5 Stars by Bauer Financial, the nation’s leading and most respected financial institution analyst. In addition, Walden Investment Services*, located at Walden Savings Bank, offers personalized advice for financial planning. To learn more visit the bank’s website at www.waldensavings.bank