Protect yourself from social engineering fraud

Updated May 7, 2024  |   Published November 24, 2021

With more Americans turning to online and mobile banking to manage their finances, social engineering fraud is on the rise. Do you know how to spot social engineering fraud? In this article, we’ll detail how Webster First works to keep your money safe, and highlight ways you can protect yourself.


What is social engineering fraud?

Social engineering is when a fraudster impersonates someone else. They may impersonate your boss, a customer, or a trusted institution like your credit union or insurance company. The fraudster’s goal is to get private information they can then use to steal your identity or money.



How Webster First protects you

Our team is well trained to spot and prevent fraud. Here are some ways we work to protect you:

  • When you visit or call us, we will always confirm your identity before sharing private information or making transactions.
  • Multifactor authentication with one-time passcodes: When you, or someone else, attempts to log in to your accounts on a new device (or if you’ve recently deleted your cookies) we’ll verify it’s really you by sending a one-time passcode to a phone number or email address you’ve previously verified. You’ll be asked to set up a verified device when you first create your online account, and you can switch your device on demand after a successful log in. To edit your verified device, click on “My Settings” within online banking and navigate to “Security options.”
  • Use our Card Suite Lite app to switch your debit card on and off. Additionally, set use limits and create alerts for even more control.
  • Every debit card includes complimentary fraud monitoring with our card alert notification program. This program monitors your card transactions for suspicious activity. If potentially fraud transactions are detected, we’ll contact you immediately.



How you can protect yourself

  • Only call us via the phone numbers available on our website,
  • Don’t share your online login information or one-time passcodes to anyone not authorized to have access your account.
  • Never click on links in unsolicited emails or texts.
  • If you receive a text, call, or email for a one-time passcode authorization that you did not request, don’t respond or validate the login.
  • Never trust caller ID. Caller ID can be modified to show any name, including businesses.