Personal and Business Banking
It was a beautiful day as neighbors, friends, and family gathered for Natick Days, a “festival of entertainment that celebrates our community.” During the event, visitors to our booth picked up gifts and goodies, as well as met Mo, the MutualOne Bank mascot!
Social engineering refers to the methods attackers use to manipulate people into sharing sensitive information, or taking an action, such as downloading a file. Sometimes a social engineer is able to rely solely on information posted online or will sometimes interact with the victim to persuade the victim to share details or perform an action.
Information posted online can seem harmless, until you think about how a social engineer could use the same information. By gathering multiple pieces of information from various sources, a cyber criminal could have enough facts about you to craft a very convincing social engineering scam. Think about how these seemingly innocuous details might be valuable to the cyber criminal:
• Posting a picture of your pet might give away your pet’s name, or posting a photo of your car would identify its color. Pet’s name and car color are common security questions.
• Answering a “meme” can give away personally identifiable information (PII) such as your date of birth or other sensitive information, including answers to security questions.
Be careful about how much information you post and think about how the various pieces might be combined for use by a cyber criminal.
Persuasion Scams
The following three common types of persuasion methods highlight different ways social engineers target victims through the Internet.
Tech Support Call Scams
In Tech Support Call Scams the scammer, claiming to work for a well-known software or technology company cold calls victims in an attempt to convince the victim that their computer is at risk of attack, attacking another computer, or is infected with malware, and that only the caller can remediate the problem. In convincing the victim, the scammer often persuades the victim to provide remote access to the victim’s computer. The scammer can then install malware or access sensitive information. In some variations the scammer persuades the victim to pay for unnecessary or fictitious antivirus software or software updates.
Romance Scams
In Romance Scams the malicious actors create fake profiles on dating websites and establish relationships with other site members. Once a sense of trust is established, the scammer fabricates an emergency and asks the victim for financial assistance. The scammer generally claims they will repay the victim as soon as the crisis is over, however, if the victim sends money, the scammer will prolong the scam, sometimes stealing thousands of dollars from the victim.
Traveler Scams
In this scenario, also known as the “Grandparent Scam,” malicious actors use information posted on social media websites by a traveling family member to trick other family members into sending money overseas. Often the scam targets the elderly, who are less likely to realize the information was originally posted online. The scammer will monitor social media websites for people traveling overseas, and then contact the family members, through the Internet or via phone, with a crisis and requesting that money be sent immediately. The scammers rely on all the information users post online about themselves and their trips, in order to convince the family member that they know the traveler and are privy to personal details, and thus should be trusted.
Easy Tips to Protect Yourself from Social Engineering
• Use discretion when posting personal information on social media. This information is a treasure-trove to scammers who will use it to feign trustworthiness.
• Before posting any information, consider: What does this information say about me? How can this information be used against me? Is this information, if combined with other information, harmful?
• Remind friends and family members to exercise the same caution. Request that they remove revealing information about you.
• Verify the identity of anyone who contacts you through different means – do not use the information they provide you.
• Do not send money to people you do not know and trust.
Mark R. Haranas, president and CEO of MutualOne Bank, has announced that Mathew Cepero of East Bridgewater has joined the Bank as a business banking specialist.
Cepero will be responsible for service and support of commercial banking relationships throughout the organization. He is a United States Marine Corps veteran and worked most recently as a Corporate Sales Trainer and Licensed Banker at Citizens Bank.
David Flynn of Framingham has joined MutualOne Bank as vice president, commercial lending. He brings with him over 25 years of industry experience, most recently with Dedham Savings, where he was a vice president and commercial lender.
Flynn graduated from Terenure College in Dublin, Ireland. He is a member of the Cancer Care Givers Association, board member of the Irish Pastoral Association, and a former ambassador for the MetroWest Chamber of Commerce.
Jeffery D. Ryan of Westwood has joined MutualOne Bank as vice president, commercial lending. He brings with him 10 years of industry experience, most recently with South Shore Bank, where he was a vice president and commercial lender.
Ryan holds a bachelor’s degree from the University of Notre Dame and a master’s degree from the Kellogg Graduate School of Management.
Robert P. Lamprey, chairman of the Board of Directors of MutualOne Bank, has announced the election of William H. Mayer, Esq. of Holliston as a director.
Mayer is a partner in the Framingham law firm of Mayer, Antonellis, Jachowicz & Haranas, LLP specializing in family law. He has been engaged in the practice of law since 1977 and has concentrated in the area of family law since 1984. He is also the current Town Counsel for the Town of Holliston.
A graduate of Framingham South High School, Mayer is a magna cum laude graduate of the University of Massachusetts in Amherst, and received a juris doctor degree from Suffolk University. He is a current member of the Massachusetts Judicial Nomination Commission; and former member of the Holliston Board of Selectmen and Holliston School Committee.
