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Social Media soundness could save you from being a victim.

Cybersecurity Tips & Recommendations

Social Media Soundness

While social media gives you the "free" service of keeping in touch with friends and family, it also is a place where the data you share can be harvested by advertisers and exploited by fraudsters. Social media platforms have produced certain alternative payment systems to transfer money freely online. From Facebook to Snapchat, companies continue to roll out features that seek to replace traditional methods of providing payment.
Fake accounts are common on social media, which can put anyone transferring money at risk of sending it to the wrong person. Scammers are all over social media creating accounts to impersonate other individuals. They catfish or "trick" users by pretending to be someone other than who they really are. In many instances, the scammer will request money be sent to them through the various social media payment systems.
At Adams Bank & Trust, both our personal online banking and mobile banking app offer Popmoney® to pay other people. The Bank also offers mobile wallets such as Apple Pay, Google Pay, and Samsung Pay to make your purchases more secure.
Popmoney offers:
  • The ability to send, receive, and request money with an email address, mobile phone number or account number.
  • An inexpensive way to move money.
  • A risk management platform that combines an extensive fraud detection database with authentication measures that help keep your transactions secure.
  • Secured access to paying bills online.
Want to learn more about our mobile banking solutions? Click here.

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