Don’t Fall for Bank Impersonation Scams!
Fraudsters know that the majority of people will act quickly if they receive a text, call, or email claiming there’s an issue with their bank account.
A bank impersonation scam is when someone reaches out pretending to work at a credit union or bank you use. Most of these scams are executed to either steal your credit or debit card information, steal your online banking credentials, get you to hand over money, or to get around your credit union or bank’s security protections to access your accounts directly.
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New Apps Offer Many Hidden Risks

Over a decade has passed since Instagram and Twitter first made their mark on social media. Since then, numerous apps have attempted to recreate their magic, in an effort to capture their essence and become the next big thing. Two new apps, Threads and Lapse, are on the rise; however, both come with security risks, particularly in financial cybersecurity and identity theft. Although both apps have gained immense popularity and have implemented safety measures, it's crucial to remain aware of potential risks, especially with newer entrants to the scene.

What is Lapse?

Remember the old days with Kodak and Polaroid cameras? Lapse is all about bringing that vibe back. The app was built with the purpose of sharing pictures that are here for a moment and then gone. You can post photos and videos, but they disappear after a while, giving you a raw and unfiltered look into people's lives. It's freeing, but it also has its challenges.

Privacy Concerns:

Since Lapse content disappears after a set time, there is a perception that it's less permanent. However, it's crucial to remember that one can still use screenshots to capture content. You still need to be aware of sharing sensitive or compromising information, as whatever you share can still be saved and used for purposes other than your original intent.

Unknown Results:

With Lapse, users wait to see what they've captured. It's like the old days when you'd take a photo and wait for it to develop. However, this unique approach can present a challenge, especially regarding potentially sensitive content. Users may not realize if they've accidentally captured something they didn't intend to share.

This encompasses the risk of inadvertently capturing images containing financial information or sensitive details that could be exploited for identity theft. Since Lapse doesn't immediately display the photo, you might unintentionally capture a sensitive document in the background, only realizing it when Lapse processes the image.

What is Threads?

Threads, is a companion app for Instagram, broadcast short post similar to Twitter. It makes chatting about posts or topics more organized and interactive. Instead of just a long list of comments, Threads help you follow discussions and have more meaningful conversations. Linking Threads to Instagram creates a unique way to connect and talk with others on the platform. Unfortunately, one must have an Instagram account to use Threads, which creates a risk for identity theft.

Account Linkage

Threads requires users to link their accounts with Instagram. If a user's Instagram account is compromised, it could provide a gateway for cybercriminals to access personal information. Identity thieves may exploit this connection to gather additional details about the user, increasing the risk of identity theft.

Although the creators of these apps should incorporate strong security measures, they may only sometimes detect and prevent hackers. Instagram, for instance, incorporates features like shops, paid profiles, and other avenues through which users may transmit sensitive banking information. If a hacker gains access to Threads, it puts the financial data you have linked to your Instagram at risk.

A new application is exciting and filled with new innovative ideas, it's still important to understand all potential risks and challenges. Whether it's Lapse's temporary content or Threads' app integrations, users and app creators should prioritize security and privacy. To learn more about using multi-factor authentication or creating strong passwords, click the links below.