Apr 23, 2023

⚠️ Scam Alert: Watch Out for Silicon Valley Bank Scams

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Recently, the US-based Silicon Valley Bank (SVB) recently shut down due to failure to meet its financial obligations. This collapse has caused a public panic, and unfortunately, cybercriminals take advantage of high-profile news stories to catch your attention and manipulate your emotions.

In the coming weeks, we expect to see cybercriminals referencing the collapse of SVB in phishing attacks and disinformation campaigns. Cybercriminals are already taking advantage of this event to try to steal your sensitive information. For example, cybercriminals may send you emails offering money or financial advice in response to the bank failure. These emails may appear to come from trusted financial services, but interacting with these emails can lead to cybercriminals taking your banking information or funds. 

Follow the tips below to stay safe from similar scams:

  • Always think before you click. Cyberattacks are designed to catch you off guard and trigger you to click impulsively. 
  • Watch out for sensational or shocking headlines about SVB. These headlines could lead to articles that contain disinformation, or false information designed to intentionally mislead you. 
  • Be cautious of unexpected payout opportunities. Remember, if something seems too good to be true, it probably is!
General Advice Warning: The information provided in this article is general in nature and does not consider your particular investment objectives, financial situation, or insurance needs; we therefore recommend you seek advice tailored to your individual circumstances before making any specific decisions.
iPlan Financial Services Australia Pty Ltd Corporate Authorised Representative 291288 of Futuro Financial Services Pty Ltd ABN: 30 085 870 015 AFSL/ACL 238478

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