If you’ve been around long enough, you can remember when fraudulent emails looked as obvious as a big mustache and a monocle marking the bad guys in old movies. However, in the age of AI, spotting a phishing attempt can no longer rely solely on glaring giveaways.
Fraudulent financial emails may include the branding and the email signature of someone you know and trust. If a scammer compromises an email account, they can even contact you through a legitimate address.
At CDF Capital, we believe wise digital stewardship is part of protecting what God has entrusted to you. That includes knowing that when an email asks you to transfer money or change payment instructions, you stop and confirm the request’s legitimacy first. Here is how.
1. Don’t use the message to verify the message.
Treat any email asking you to send money, change financial information, update payment instructions, or move funds as something that requires independent verification. Don’t reply to the message, call the phone number it lists, or click on the link in the email to verify. If the email is fraudulent, those contact details may lead right back to the scammer. Instead, use contact information you know is legitimate.
2. Do contact your financial institution on your own.
Call or message your advisor through your institution’s official website or log in through the app or portal that you normally use. Then ask directly: “Did you send me this request?”
3. Don’t trust an incoming call or text as confirmation.
A confirmation only counts when you start the conversation yourself. If someone reaches out to you first, hang up and call back using a number you know is correct.
“Cybercriminals often plan for people to double-check. So shortly after a fake financial email arrives, you may receive a call from someone who sounds like your advisor and confirms everything the email says,” explains Rob Bedley, CDF Capital’s Director of Technology Services. “AI voice tools can now copy a familiar voice from a short audio clip.”
4. Do verify the transaction details with your financial institution.
Confirm the amount, account information, the recipient, and the reason for the transfer. If the email says that the banking or wire instructions have changed, FBI guidance recommends confirming any alterations to account numbers or payment procedures.
5. Do complete the transfer through your normal account or portal.
After you confirm the request using the guidelines above, use your usual methods for accessing your financial account, such as a secure portal or official app, to complete the transaction. For added security, never access your accounts while using public Wi-Fi. And always avoid accessing your account through a link in the original email.
Wise Stewardship in a Digital World
Discernment is a practical expression of wisdom, especially when an email is asking you to transfer money. If you ever receive a message from CDF Capital asking you to move money or update your account details, contact us through our official methods. We would much rather hear from you than have you guess. We will walk with you every step of the way.
Stay alert.
Stay wise.
Stay CyberSmart.
