Banks Never Ask That

Spencer Savings Bank has joined the American Bankers Association and banks across the nation to promote an industry-wide campaign educating consumers about the persistent threat of phishing scams. The FTC estimates that consumers lost $5.8 billion to phishing and other fraud in 2021, an increase of more than 70% compared to 2020. To combat phishing, the #BanksNeverAskThat campaign uses attention-grabbing humor and other engaging content to empower consumers to identify bogus bank communications asking for sensitive information like their passwords and social security numbers.

“Phishing attempts are at an all-time high and scammers are targeting consumers from every direction – by text, phone and email,” said Paul Benda, Senior Vice President, Operational Risk and Cybersecurity at ABA. “Education and awareness are key to helping consumers spot a scam, and with help from participating banks like Spencer Savings Bank, we’re able to reach bank customers across the country so they can stay one step ahead of the scammers.”

“We’re happy to partner with the ABA, for Cybersecurity Month, and help educate and spread awareness on this topic,” stated Jonathan Shachov, Spencer’s Vice President and Director of Information Technology. “It is something extremely important to do. The fraud only keeps getting worse and it is a problem that affects everyone in the public. At Spencer, we’re committed to continuing to educate our customers and help them fight fraud with knowledge, information and awareness.”

Spencer Savings Bank, along with more than 1,000 banks from across the U.S. and ABA, are kicking off this year’s updated campaign in October to mark National Cybersecurity Awareness Month. Throughout the month Spencer Savings Bank will share a variety of consumer tips on social media and in customer newsletters to highlight common phishing schemes. Because cybersecurity education and fraud awareness can often be dull and forgettable to many consumers, the campaign is designed to be bright and bold with a bit of comedy. The campaign’s short videos offer similarly ridiculous scenarios like wallpapering a room with cash, roasting marshmallows over a cash fire and recycling cash on garbage day. Consumers are directed to BanksNeverAskThat.com where they will find an interactive game, videos, phishing red flags, tips and FAQs.

For more information about phishing scams and how to stop fraudsters in their tracks, visit www.BanksNeverAskThat.com. Follow Spencer Savings Bank on social media and sign up for their customer newsletter on their website to receive more information on cybersecurity and fighting fraud.

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