authentication and a fake accounting ledger. Criminals use such websites for everything from creating demand deposit accounts and certificates of deposit (CDs) to cryptocurrency trading. The fake CD websites are particularly difficult to address because the individuals tricked into sending their money to a fake website are often not looking for the money for six, 12, or 24 months. By the time the investor seeks repayment, the website is often gone, the perpetrators have moved on, the accounts to which the original investment was sent are empty or closed, and there are fewer leads or the leads are harder to follow due to the passage of time. Common steps taken by banks is to (1) monitor their own domain and search for look-alike domains; (2) educate customers as to how to spot and identify the correct domain banking website; (3) talk to customers on a regular basis either using email campaigns, old-fashioned letter campaigns, or hosting educational sessions for customers; and (4) if a fake domain is identified notify the domain registrar to immediately take it down. As an example of fake domains, a search for the domain of “capitalone” returned domains such as: • CAAPITALONE.COM • CABITALONE.COM • CACPITALONE.COM • CAIPITALONE.COM • CAITALONE.COM • CAJPITALONE.COM • CALITALONE.COM • CALPITALONE.COM • CAMPITALONE.COM • CANPITALONE.COM A search for “citi” produced numerous spoofed names such as: • EITI.COM • BITI.COM • CETI.COM • C-ITI.COM • XITI.COM • C1TI.COM • ICTI.COM • ITI.COM • CITI.IO • CLTI.COM In addition to banking sites, there are numerous fake cryptocurrency investment sites actively targeting and soliciting vulnerable individuals. Conclusion In the last year alone, the IC3 report showed more effective efforts by fraudsters to exploit individuals in the modern era of online banking, investing and cryptocurrencies. Such schemes are disproportionately affecting older individuals in communities and take many forms, making a blanket defense difficult to provide. Cyber-enabled schemes pose the greatest threat and cause most of the overall losses attributable to fraud. Greater access to technology does not necessarily mean more sophisticated schemes, but it does create a greater volume of schemes, making it difficult to slow the growth of fraud and protect consumers. Banks can help thwart the frauds by (1) monitoring domains similar to their own, and when such domains are discovered quickly notify the registrars to request takedown; (2) educating customers with presentations and regular fraud awareness campaigns through email, letters, account statements, webinars and branch events; and (3) helping customers identify and implement security controls appropriately for products and services such as CDs, new deposit accounts, wire transfers and cryptocurrency-related transactions, especially when customers are moving large sums to unfamiliar sites. Your Full-Service Bankers' Bank United Bankers' Bank is proud to be the nation's first bankers' bank, serving over 1,000 community banks from the West Coast to the Great Lakes and South Atlantic. We can't wait to share our passion for community banking with you! To Request Pricing Visit ubbRequest.com Contact your Nebraska Calling Officer: Michael Hahn VP, Correspondent Banking Officer michael.hahn@ubb.com ubb.com 16 NEBRASKA BANKER
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