Learn About Fraud Risks - First Horizon Bank

Safeguard Your Information

Stay one step ahead of fraudsters by avoiding common scams.

Think twice before sharing personal information

First Horizon Bank will never contact you directly and ask for personal or account information that we already have on file. Additionally, we will never ask you to verify your identity by sending you codes or requesting passwords via phone, email or text. If you’ve received a call or message claiming to be from First Horizon Bank and believe it may be fraudulent, contact Client Services at 800-382-5465.

Common Consumer Scams

What it is:

Scams where clients are being contacted by phone or email to obtain personal information, such as account information (account numbers) and/or identifying information (e.g., Social Security number, date of birth). Some tactics used include advising you that there is a problem or missing information related to your account and additional information is needed to correct the issue. In some cases, threatening tactics may be used (e.g., criminal pursuit, collection agency referral) to obtain this information.

How to protect yourself:

Do not provide any personal information to an unsolicited caller.
Never respond to a phone call or voicemail asking you to verify account information or reactivate a service.
Never provide personal or account information over the phone or via email/text, even if it appears legitimate. Contact the organization directly using information listed on their website or other trusted source.

What it is:

Social media users are being enticed to open new accounts or use their existing accounts in exchange for merchandise or “fast cash.” The accounts are ultimately used to conduct transactions involving the deposit of fraudulent checks and subsequent fraudulent card purchases/ATM withdrawals. Participation in this type of scheme is illegal, and you may be held responsible for purchases or cash withdrawals made from the proceeds of a fraudulent check deposit. Such activity could result in account closure and possible criminal prosecution.

How to protect yourself:

Be wary of posts with pictures of cash or other items encouraging anyone interested to comment for more information.
Only communicate with social media users you know and trust.
If you are taking action because of a social media post, check the poster’s account and ask them to share their contact information so you can verify their validity.

What it is:

Fraudsters implement numerous types of text message scams, but they all follow a similar pattern: you receive a text from an unknown number and the message creates a sense of urgency so you’ll respond, call or click quickly. Taking any of these actions can result in immediate and long-term financial losses or identity theft.

How to protect yourself:

Never click on links in unsolicited text messages. Scammers use links to infect your phone with malware or send you to fake websites that steal your information. Never click on a link in a text message unless you’re absolutely sure who sent it.
When in doubt, contact the company, agency or individual directly. Fraudsters can impersonate everyone from your bank to your boss. If you get a text message that you think you need to act on, contact the person or organization directly first to make sure it’s legitimate.
Regularly check your credit report and bank statements. Text message scams are almost always after access to your financial accounts. Be on the lookout for the warning signs of identity theft – such as strange charges on your bank statement or accounts you don’t recognize.
Remove your contact information from data broker lists. Scammers can buy your contact details from data brokers. Unfortunately, there are hundreds of data brokers in the U.S. alone.
Consider signing up for identity theft protection.

What it is:

A form of fraud where consumers respond to an online solicitation for “easy money” and provide a debit card for withdrawal of fake check deposits. Customers who respond to these solicitations, now accomplices, provide a debit card, PIN and online credentials to give the criminal direct access to their account. The fraudster deposits worthless checks using mobile deposit and immediately withdraws the funds at an ATM. The customer then calls to report a stolen card or compromised credentials. The bank reimburses the customer for funds lost and the criminal provides the customer with a cut of the money withdrawn using worthless checks.

How to protect yourself:

Avoid online posts and advertisements promoting fast cash or easy money.
Never provide your debit card information to an unknown individual or organization.
Always check the legitimacy of any unknown individual or organization by contacting them directly via phone.

What it is:

Card skimming devices are used to copy account data as well as PINs if used during the transaction. Once the information is captured, your card information can be used to make counterfeit cards to withdraw cash from your account at ATMs or make card purchases. Skimming devices may be difficult or impossible to detect. Some may use an overlay on top of the card insert opening that may be detected by a careful inspection. Other methods may use an internal device. Some pumps may use security tape to help identify if the pump was accessed by an unauthorized person.

How to protect yourself:

If you see anything suspicious on the pump (e.g., damage to the card reader or a potential skimming device) do not use your card at the pump. Make your purchase inside the gas station and inform the clerk of the damage or your suspicions.
If you use a debit card, a way to protect your PIN is to select the “credit” option for the payment.
Monitor your bank and credit card accounts regularly. If you notice unauthorized charges or cash withdrawals, report them immediately.

What it is:

Scams that involve operators fraudulently soliciting money from consumers. The operators of this scam are using threatening tactics (e.g., lawsuits, asset seizure, arrest) to force consumers into immediately paying debt on loans they never authorized or paid off several years ago. Those perpetrating this scam have obtained identifying information about consumers (e.g., Social Security numbers, addresses, banking information) and will use this in order to appear as a legitimate collection agency. Numerous consumers also reported their place of employment has been contacted in an attempt to collect “past due” funds.

How to protect yourself:

If you are unsure whether you are delinquent on a payday loan or other debt, contact your lender directly using your loan paperwork to find a legitimate contact number.
If your place of employment has been contacted and you know you have a loan that you paid in full, inform them you believe you are a victim of a fraud scheme.
Never provide personal information to a third party unless you initiated the contact.
If you receive a phone call regarding this scam, or have fallen victim, contact local law enforcement and file a complaint with the Federal Trade Commission at www.ftc.gov.
If you believe someone stole your personal information and used it to obtain a fraudulent loan, contact the credit bureau and visit www.identitytheft.gov for tips on what you can do to protect your identity.

What it is:

Scammers go to retail stores and remove card(s) from the racks, tamper with the card packing, record the activation code and return the gift card to the rack. The scammers then activate the card(s) online or turn them into cash without the future buyer of the card knowing it. (Source: justice.gov)

How to protect yourself:

When buying a gift card, look for signs of package tampering (this may include damaged, ripped or torn packaging), missing labels or stickers, the card PIN being exposed, etc.
If possible, purchase gift cards that are behind a counter where they are monitored.

What it is:

You receive checks in the mail (unsolicited) with an offer to be a “secret shopper.” You’re asked to deposit the check and use the funds to do your shopping, which is usually something like testing money transfer services or buying gift cards. With the gift cards, you may be asked to send pictures of the cards or send the card numbers with your “shopping” report. By the time you’ve sent in gift card information or transferred money, the bank will have discovered that the original check you deposited was fake.

How to protect yourself:

Do not proceed with any scheme that asks you to deposit checks and then transfer money or purchase gift cards and send card information.

What it is:

Student loan forgiveness scams email potential borrowers with aggressive advertisements like, “Your student loans may qualify for complete discharge. Enrollments are first come, first served.” Scammers will request an up-front or monthly fee while promising immediate and total student loan cancellation. Most government forgiveness programs require years of qualifying payments and/or employment in certain fields before forgiving loans.

How to protect yourself:

Beware of anything asking for your StudentAid.gov account information, like your FSA ID (account username and password).
Watch for emails that contain unusual capitalization, improper grammar or incomplete sentences. These sorts of errors indicate a potential scam in action.
Some scammers may use official-looking names, seals and logos, but that doesn’t make them trustworthy. Know what official communications from us and our partners look like and always double check the sender’s email address.
Be cautious of any calls you receive about your student loans. If you receive an email, double check that the URLs and email addresses match exactly.
Emails from us will only come from these addresses: noreply@studentaid.gov noreply@debtrelief.studentaid.gov ed.gov@public.govdelivery.com.
Text messages from us will only come from 227722 or 51592. Legitimate Student Loan servicers can be found here.

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Beware of Unsolicited Offers

If you receive an unsolicited offer that promises you something in exchange for money or account information, you should not respond unless you are sure the offer is legitimate. Common scenarios include offers that require an upfront fee, requests to wire funds, a notice that you won a lottery/contest, or a person on a social website who asks for money (e.g., travel money to meet you, emergency cash, medical bills, etc.). Should you receive an offer or request and are unsure if it is legitimate, contact Client Services at 800-382-5465.

Scams Targeting Businesses

A banking trojan is malware deployed as part of the attack of a phishing campaign.

Banking trojan – a malware designed to collect banking information from victims

The malware is equipped with a variety of sophisticated evasion and information-stealing capabilities, as well as propagation functionality and a strong persistence mechanism. These attacks target consumers as well as businesses.

How can I guard against it?

Refrain from opening attachments or clicking links within emails or texts from senders that seem out of place, or context, or from senders that you do not recognize.
Consider disabling macro functionality in spreadsheet and documents by default.
Maintain anti-virus software updates/patches on personal computers.
Route internet requests through an internet proxy to avoid accessing known malicious websites.
Use DNS services that block access to known malicious sites.

Beware of communication purporting to be from First Horizon Bank.

A phishing scheme targeting First Horizon Bank is being sent through text messages. This scheme is an attempt to get the user to reset their security answers. This information is intercepted and used to take over the account.

If you receive a text message regarding this scheme, do not click on the link. If you have clicked on the link and provided sensitive information, we strongly encourage you to change your password and security questions immediately, using the actual First Horizon Bank website or to call Client Services at 800-382-5465.

If your business sends outgoing wires to or on behalf of clients, beware of a scheme in which hackers can take over a legitimate email address and initiate fraudulent wire requests.

Ensure that your business has procedures in place to verify any wire that is received via email or fax. For example, calling your client directly using a phone number on file before proceeding with a wire can determine if the client actually sent the request.

If you become aware that your client's email has been compromised, advise the client to contact their email and virus software providers, as their password/account information could have been compromised by a third party.

Check Fraud

Protect your business: Stolen and counterfeit checks

Stolen checks are typically obtained via mail theft, primarily from US Mail drop boxes (blue boxes) or mailboxes at residences and businesses. Criminals have been able to obtain keys for the blue boxes so those have been a primary source in recent years. They typically target checks drawn on businesses since those accounts tend to maintain higher balances.

Stolen checks can be altered to reflect a different payee and/or amount. Chemicals may be used to remove the ink so the new name and/or amount can be added cleanly, which might match the original font if done carefully.

Counterfeit checks are typically created using a stolen check as a guide. Blank check stock is easily obtained from office supply companies, and these can be printed using the stolen check format. The maker signature may be forged, or the original signature may be scanned and printed on the counterfeit check.

When mailing checks, it is recommended that the mail be brought inside a U.S. Post Office facility. If using a mailbox or blue box, be sure to do so before the collection time.

Given the prevalence of counterfeit check activity, all business clients should review accounts on a daily basis to identify fraudulent activity and report it immediately. Our Treasury Management group offers a Check Positive Pay service for commercial clients, which can help detect fraudulent checks and return the items timely.

Source: fincen.gov

A scheme where fraudsters are targeting businesses’ Human Resources departments through email. The fraudsters impersonate senior executives and attempt to convince human resources personnel to change associate’s bank account and routing information in order to route associates’ paychecks to offshore accounts owned by the criminals.

Additionally, the fraudulent emails often go undetected because it defies many existing red flags for malicious communications. The emails are well-written, cordial, and lack misspellings and grammatical errors that would typically trigger email filters.

Focus your company’s efforts, which may include adjusting email filters to pick up common traits of this type of request and training associates in security best practices. Ask your company’s executives to avoid using their personal emails when sending messages. Companies that have been seen versions of this fraud scheme can report it the FBI’s IC3 tip line.

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Think you’ve been a victim of fraud? Here’s what to do.

If you have unusual account activity:

To report confirmed fraud or suspicious activity on your First Horizon Bank account, or if a fraudulent account was opened in your name or with your Social Security number at First Horizon Bank, contact Client Services at 800-382-5465 or visit your local branch.

Call 800-382-5465

If you’ve received a suspicious email or text:

If you suspect an email or text message appearing to be from First Horizon Bank is fraudulent, do not submit any personal information and forward the email or text message to phishing@firsthorizon.com.

Email Us

If your card(s) or check(s) have been lost or stolen:

Report any lost or stolen First Horizon Bank card(s) or check(s) immediately by calling Client Services at 800-382-5465 or visiting your local branch. Log on to Digital Banking to turn your card off to help limit or prevent unauthorized use.

Call 800-382-5465

Social Engineering Scams

Social Media Schemes

Text Scams

Card Cracking Scams

Card Skimmers

Debt Collection Scams

Gift Cards

Secret Shopper Scam

Student Loan Forgiveness

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Banking Trojans

Banking trojan – a malware designed to collect banking information from victims

How can I guard against it?

Text Messages

Wire Fraud Scams

Check Fraud

Wire Fraud Targeting Payroll Deposits

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Social Engineering Scams

Social Media Schemes

Text Scams

Card Cracking Scams

Card Skimmers

Debt Collection Scams

Gift Cards

Secret Shopper Scam

Student Loan Forgiveness

Banking Trojans

Banking trojan – a malware designed to collect banking information from victims

How can I guard against it?

Text Messages

Wire Fraud Scams

Check Fraud

Wire Fraud Targeting Payroll Deposits