Medara Sherman, Melanie Porter and Carol Martin of Champlain National Bank (Provided photo — Naj Wikoff)

According to the Federal Bureau of Investigation, last year, Americans were scammed out of over $10.3 billion by internet and telephone scam artists. On Sunday afternoon, March 3, at the Keene Valley Library, representatives of the Champlain National Bank provided an overview of scammers, how they work, why they are effective and how people can protect themselves.

Staying alert is critical as scammers are good and constantly getting better. Their goal is to gain your trust and get you to transfer money to them in ways that can’t be traced or stopped, such as getting access to your accounts and taking your funds directly without your knowledge.

This past year, I was close to being successfully scammed through nearly purchasing goods on what I thought was an L.L. Bean site. Every aspect of the site looked authentic: the layout, the products on sale, the addresses, everything, plus the timing as I received it during the Black Friday window of amazing offers. The giveaway was that I felt the prices were almost too good to be true, so good that I opened a new window googling L.L. Bean to confirm the offerings.

L.L. Bean’s offerings were not even close to the prices I was quoted, which got me to look carefully at the email addresses, where I noted some subtle irregularities inspiring me to close and block the page and label it spam. Indeed, during the library session, Bunny Goodwin opened her email and found a fake offer that she read out loud to the attendees. The offer ticked all the boxes we had been discussing, indicating that it was a scam offer.

Medara Sherman, a mortgage loan specialist who serves as Champlain National’s security officer, led the presentation. Sherman has been with the bank for 11 years, eight as a branch or multiple branch manager. She said that part of the bank’s strategic plan is lowering the risk of being scammed through educating their customers and staff on what to look out for and steps they can take to lower risk. One aspect is questioning their customers anytime they try to make a large withdrawal, purchase a cashier’s check, or wire money.

Donna Reed Austin and Linda Deyo (Provided photo — Naj Wikoff)

“If you come in and seek such a withdrawal, we are asking questions not to be nosey but to save you from potentially losing money,” said Sherman. “Once you send the money, you can’t get it back. It’s gone.”

Rural and older adults are particularly vulnerable as we tend to be very trusting because we know or recognize most people we meet and are used to helping each other. If someone has a significant loss, we quickly assemble a benefit supper or a GoFundMe site or donate food and clothing. Here, older adults have these same values, but as they are not often as technical savvy as younger people or have challenges of memory loss, they can be particularly vulnerable.

Scammers want your money and will stop at nothing to get it. Scammers always have a believable story, one that makes sense. They want to identify your vulnerabilities and gain your trust, and, in the end, they don’t care what they have to do to get your money. Scammers are highly skilled at their trade, appeal to such emotions as fear, loneliness and sympathy, don’t take no for an answer, and insist on secrecy. They find us through purchasing mailing lists, contact lists and social media such as chatrooms, dating sites, Facebook, Instagram and Nextdoor. They look at profiles to see what you are doing, what your interests are, if you are involved in specific organizations and identify the names of your friends and family.

There are a variety of scams, such as giveaways, sweethearts, family/friend imposters, government imposters, tech support, phony charities, investment tips and contractors. Scammers work to build trust. They often state that they are out of the country and need money or someone you know needs help covering a doctor’s bill. They might say you failed to show up for jury duty and now have a fine to pay, that your social security or Medicare benefits have been suspended, you owe back taxes, you owe a tech company or some other organization, which may be a cause that you are concerned about. All will require payment, and quickly as there is a deadline. Payment must be made by wire transfer, gift card, banker’s check or cryptocurrency.

“If it’s too good to be true, chances are it’s a scam,” said Sherman. “Since COVID, a lot of check and mail fraud is going on. People will either intercept the mail from the post office or pull it out of mailboxes, or bad actors will work for the post office. They open your mail, find a check in there, use a chemical to remove the payee’s name, change the amount and put in their name as the payee.”

Sherman recommends direct payments, though recognizing that many large institutions have been hacked. She said the advantage of credit cards is you are protected, while with checks, you are not unless you catch the phony check within 24 hours. If you send checks, review your bank statements to see that the right amount was cleared and get protective sleeves for your credit cards. Also, change your passwords often or sign up for an automatic password account.

“The only thing you can do is safeguard yourself,” said Sherman. “Nothing is a hundred percent foolproof, but start using fewer and fewer checks and increase paying online. If you check your bank or credit card statement only when it comes in the mail, that’s too late. Go online and review your statements daily. Think before you give any personal information out.”

Sherman’s other recommendation is that if you feel you have been scammed or are being scammed, contact your bank, the credit card company and the police. Don’t let anyone push you into making an immediate payment. Say, “Can I call you back?” Ask them for a number, which they will rarely give. Don’t be embarrassed. Seek help. Sherman also feels that artificial intelligence will make scamming even more challenging to detect.

“It was very informative,” said Donna Reed Austin. “I learned to be very careful about everything, including sending checks in the mail.”

“I’m glad that I attended,” said Linda Deyo. I think more of these presentations need to be held in the area.”

Contact Champlain National Bank if you wish Medara Sherman to make a presentation for your organization.

“At some point in your life, if you haven’t been already, you will be either a victim or a potential victim of a scam,” said Sherman.

(Naj Wikoff lives in Keene Valley. He has been covering events for the Lake Placid News for more than 15 years.)