Fraud detection and prevention for your clients
Be vigilant in safeguarding personal and financial information online and at home by keeping financial documents, account information and passwords in a secure location.
Capital Group will never send an email asking you or your client to provide personal identifying information, like a Social Security number. We’ll also never ask you or your clients to share account passwords or security codes. If you think you or your client may have been a victim of identity theft or fraud, please contact us immediately and consider taking the following additional steps:
- Contact other financial institutions to alert them of the concerns
- Monitor statements and account activity
- Place a fraud alert with credit bureaus such as Experian, Equifax and TransUnion
Learn more about some of the most common scams.
Identity theft
Identity theft usually involves using someone’s personal information — user name, password, Social Security number, driver's license or financial account information — to commit fraud or other crimes.
Identity thieves can obtain information in several ways, such as:
- From the trash
- By stealing mail, purses, wallets and other personal items
- By copying credit card or additional information during a transaction
- Through phishing emails
- By submitting false address changes
Be sure to keep your financial records and any other documents that contain your personal information in a safe place. If you get financial statements in the mail, take them out of the mailbox as soon as possible. If you’re logging in to an online account, use a strong password and multi-factor authentication for additional security.
You can find more information at these websites:
Scams
Scammers identify ways to obtain personal information and use that information for financial gain. Some of the more common scams include:
- Financial requests — You may receive an email or text that appears to be from a bank, financial institution or the Internal Revenue Service (IRS), but it’s a hoax. Banks usually won’t ask you to transfer money or provide financial information by email, text message or phone. If you receive such a request, stop and talk to someone you trust. Call the financial institution using a phone number from a reliable source.
- Tech support — Scammers try to convince you to give them access to your computer. Do not allow remote computer access to unknown individuals or companies.
- Lottery prizes or unclaimed inheritance — Scammers may claim you have won money or you have an unclaimed inheritance. They trick you by asking you to provide personal information and pay a fee to claim the money, but you never receive anything.
- Online dating schemes — Scammers may use dating websites or apps to pose as a romantic interest and ask you for money for an emergency. Once your money arrives, they may disappear or try to trick you into sending more.
- Family imposters — Fraudsters may send emails or call and pose as a family member or friend in distress who urgently needs money. Stop and talk to someone you trust if you receive such a request. Do not let your guard down, no matter how a stranger reaches out to you.
You can find more information about scams and how to spot them at these websites:
Phishing
Phishing refers to the deceptive practice of sending an email that appears to be legitimate from a reputable source. It may contain a company logo or even personal information obtained from social media. Phishing attempts typically:
- Pretend to be from banks and other financial institutions that process payments or individuals with an offer that is "too good to be true"
- Appear convincing due to copycat logos, fonts and other graphic elements
- Include a link to an illegitimate webpage where you’ll be asked to enter your personal or account information
- Urge you to act, click on a link, open an attachment or respond to a message
Phishing can lead to fraud and malware infection.
Suspicious email
We never ask you to provide personal or account information via email. If you receive an email that seems suspicious or unfamiliar, don't click on any links in the email and forward it to us at emailfraud@capgroup.com.
Malware
Malware is malicious software installed on your computer, smartphone and other devices without authorization. Malware typically collects information about you — the passwords you use or the websites you visit — simply by watching you type or surf online. Malware may also take over your computer and send emails you didn’t write or spread computer viruses.
Malware is usually installed through:
- Links in phishing emails
- Websites that attack computers with out-of-date operating systems or antivirus software
- Links in pop-up ads
- Shareware and other downloadable software
- Deceptive security software offers or fake antivirus programs
Your computer may have malware if it:
- Operates slowly
- Is inundated by pop-ups
- Redirects you to URLs different from those entered
- Includes unknown toolbars and icons
- Displays unusual error messages
If you suspect your computer has been infected with malware, take the necessary steps to remove the unwanted software from your computer.
See what American Funds does to protect your clients’ accounts.
Share these best practices with clients to help them protect sensitive information.
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Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.
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This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.