Independent Banker - October 2022 - 16

PORTFOLIO
◎FOCUS FRAUD
How fraudsters target
different generations
Financial fraud and cyber attacks aren't a one-age-fits-all scenario.
By identifying the preferred banking and spending habits of
diff erent generations, scammers can tailor how they reach their
targets. We look at community banks' options for fighting this type
of crime. By Katie Kuehner-Hebert
F
raudsters will fi nd ways to attack
as many people as possible in as
many diff erent ways, but often their
methods are diff erent depending on a
person's age.
Community banks can fi nd
ways to mitigate age-related fraud
through technology, as well as by
educating their customers of their
particular risks.
Each generation interacts,
understands and uses technology
diff erently, and fraudsters are
triggering customers based on
this understanding, says Glenn
Fratangelo, director of product
marketing and strategy at NICE
Actimize based in Hoboken, N.J.
" Gen Z, the younger generation,
has transitioned into the workforce
and is primarily being targeted
through social media messages
and chatbots, " Fratangelo says.
" Fraudsters typically target
millennials via text messages that
promise rewards, shipment tracking
and other automated messages
that make them vulnerable to
phishing attacks. "
Targeting boomers
Fraudsters tend to target baby
boomers via robocalls about
healthcare, taxes or Social Security,
but they aren't immune to social
scams. Brandon Koeser, fi nancial
services senior analyst with RSM US
LLP headquartered in Chicago, gives
an example of how scammers can
target people based on their ages.
" For example, someone who is Gen
Z in age and posts to Facebook about
a recent breakup may be less likely
to wind up the victim of a romance
scam than a baby boomer who loses
a partner of 40 or more years who is
consoled by loved ones on the same
platform, " Koeser says.
A person's tech habits might be
16 Q ICBA Independent Banker Q October 2022

Independent Banker - October 2022

Table of Contents for the Digital Edition of Independent Banker - October 2022

Table of Contents
Independent Banker - October 2022 - Intro
Independent Banker - October 2022 - Cover1
Independent Banker - October 2022 - Cover2
Independent Banker - October 2022 - Table of Contents
Independent Banker - October 2022 - 2
Independent Banker - October 2022 - 3
Independent Banker - October 2022 - 4
Independent Banker - October 2022 - 5
Independent Banker - October 2022 - 6
Independent Banker - October 2022 - 7
Independent Banker - October 2022 - 8
Independent Banker - October 2022 - 9
Independent Banker - October 2022 - 10
Independent Banker - October 2022 - 11
Independent Banker - October 2022 - 12
Independent Banker - October 2022 - 13
Independent Banker - October 2022 - 14
Independent Banker - October 2022 - 15
Independent Banker - October 2022 - 16
Independent Banker - October 2022 - 17
Independent Banker - October 2022 - 18
Independent Banker - October 2022 - 19
Independent Banker - October 2022 - 20
Independent Banker - October 2022 - 21
Independent Banker - October 2022 - 22
Independent Banker - October 2022 - 23
Independent Banker - October 2022 - 24
Independent Banker - October 2022 - 25
Independent Banker - October 2022 - 26
Independent Banker - October 2022 - 27
Independent Banker - October 2022 - 28
Independent Banker - October 2022 - 29
Independent Banker - October 2022 - 30
Independent Banker - October 2022 - 31
Independent Banker - October 2022 - 32
Independent Banker - October 2022 - 33
Independent Banker - October 2022 - 34
Independent Banker - October 2022 - 35
Independent Banker - October 2022 - 36
Independent Banker - October 2022 - 37
Independent Banker - October 2022 - 38
Independent Banker - October 2022 - 39
Independent Banker - October 2022 - 40
Independent Banker - October 2022 - 41
Independent Banker - October 2022 - 42
Independent Banker - October 2022 - 43
Independent Banker - October 2022 - 44
Independent Banker - October 2022 - 45
Independent Banker - October 2022 - 46
Independent Banker - October 2022 - 47
Independent Banker - October 2022 - 48
Independent Banker - October 2022 - 49
Independent Banker - October 2022 - 50
Independent Banker - October 2022 - 51
Independent Banker - October 2022 - 52
Independent Banker - October 2022 - 53
Independent Banker - October 2022 - 54
Independent Banker - October 2022 - 55
Independent Banker - October 2022 - 56
Independent Banker - October 2022 - 57
Independent Banker - October 2022 - 58
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Independent Banker - October 2022 - 60
Independent Banker - October 2022 - 61
Independent Banker - October 2022 - 62
Independent Banker - October 2022 - 63
Independent Banker - October 2022 - 64
Independent Banker - October 2022 - 65
Independent Banker - October 2022 - 66
Independent Banker - October 2022 - 67
Independent Banker - October 2022 - 68
Independent Banker - October 2022 - 69
Independent Banker - October 2022 - 70
Independent Banker - October 2022 - 71
Independent Banker - October 2022 - 72
Independent Banker - October 2022 - 73
Independent Banker - October 2022 - 74
Independent Banker - October 2022 - 75
Independent Banker - October 2022 - 76
Independent Banker - October 2022 - 77
Independent Banker - October 2022 - 78
Independent Banker - October 2022 - Cover3
Independent Banker - October 2022 - Cover4
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