First Citizens National Bank Hosts Smart Women Event on Financial Fraud
This article is republished with the permission of the State Gazette and Rachel Townsend.
State Gazette photos/ Rachel Townsend

Saturday, June 2, 2018

Picture of Event Workshop Presentation

First Citizens National Bank hosted its second Smart Women event at McIver’s Grant Public Library on Thursday, May 31. The event was hosted from 11:30 a.m. until 1 p.m. and again from 5:30 p.m. until 7 p.m.

On Thursday, May 31, First Citizens National Bank hosted its second Smart Women event at McIver’s Grant Public Library. The event welcomed a large crowd for an hour long presentation on financial fraud prevention by FirstCNB VP/Fraud Manager and Security Officer Chris Hamm and West Tennessee Drug Task Force Agent Brent Hill.

Chris Hamm, FirstCNB VP/Fraud Manager and Security Officer

Guest speakers for the event included FirstCNB VP/ Fraud Manager and Security Officer Chris Hamm (above) and West Tennessee Drug Task Force Agent Brent Hill (below). The two men spent roughly 1-hour discussing financial fraud prevention.

According to Hamm, fraud and identity theft of the elderly is becoming more and more
prevalent as technology allows scammers multiple platforms with which to target

West Tennessee Drug Task Force Agent Brent Hill

Through junk mail and excessive text messages and phone calls, scammers may come in the form of telemarketers, fake charities or even Medicare representatives, all seeking to con citizens out of money.

Hamm says it is not unheard of for scammers to even solicit individuals who have recently lost a loved one.

“It’s awful but it does happen,” said Hamm. “They find out about recent deaths by reading the obituaries in the paper and then prey on the vulnerable family members who
are left grieving.”

Individuals should also be on alert for investment schemes, or lottery and sweepstakes winnings.

“Every minute a caller is able to keep you on the telephone increases their chances stealing your personal property by 75-percent,” explained Hamm.

Hamm classifies financial abusers in two separate categories: People you know and people you don’t know.

While oftentimes we may never see the face or hear the voice of the person ultimately responsible for stealing our money or identity, there are cases where the ones closest to you are responsible for financial abuse.

In some instances, Hamm says family and friends may seek the opportunity to take funds due to financial hardships, recently having left a job, or any number of other reasons.

Finding a way to rationalize their decision to take the money, the situation soon escalates.

At FirstCNB, Hamm says his job is to ensure the protection of customers from financial abuse. Under the Right to Refuse Power of Attorney Act, Hamm says bankers and financial specialists are even within the law to refuse a Power of Attorney in the instance they believe financial abuse may be involved.

With sites such as Facebook, LinkedIn, and Twitter, the world is more connected now than ever. Hill, following Hamm’s presentation, recommended individuals to be cautious of what information they placed out for the world to see, as scammers will potentially use that information for identity theft.

Hill added that when pumping gas at the pump there are a few things for consumers to keep in mind:

• Never swipe a card a debit or enter your pin.
• Check the pump to see if it has a tamper label and if that tamper label is damaged. If so, do not use your card and notify the clerk immediately.
• Jiggle the card reader and ensure it does not have a false facing.