Ready, Set, Bank: Avoid Scams and Bank Securely

Helping seniors avoid scams, prevent fraud and keep their money and information safe

Older adults lose billions of dollars each year as a result of financial scams, but online banking is more advanced and secure than ever. It has the power to transform the way seniors manage their money and protect themselves. Recently, Capital One sat down with Tom Kamber, Founder and Executive Director of OATS (Older Adults Technology Services), who helped develop Ready, Set, Bank™, to explain how. 


“Many older adults are apprehensive about online banking, and understandably so,” said Kamber. “There's a level of comfort in standing eye-to-eye with the person counting your money. You enjoy trading stories and building relationships with your favorite teller. And above all, there’s this nagging fear that some tech-savvy fraudster may steal your financial information if you join the population of online banking customers.


“Ready, Set, Bank integrates security topics into its program to help seniors feel confident about banking online, covering how to detect irregular transactions, password best practices and how to spot scams.”


Looking Out for Potential Scams

Government agencies, including the Department of Homeland Security, are warning that cybercriminals are using the spread of the coronavirus (COVID-19) as an opportunity to target consumers. Phishing scams are one way they gain access to personal information. But what is phishing—and how do you protect yourself? 

Phishing occurs when fraudsters pose as trustworthy sources. They may pretend to be your bank, the electric company or anyone else you might trust with personal information. Most commonly, they use social media, phone calls and email to target folks. If you believe a phone call could be phishing, hang up. If you think you’ve received a fraudulent email that claims to be from your bank don’t reply to the email or click any of the links.

Capital One is committed to keeping our customers safe. We’ve put measures in place to prevent the mishandling of sensitive information. As a customer, you can help make our defenses even stronger by monitoring your account regularly and be sure to report any suspicious activity. 

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