Banker's Blanket Bond

  

Categories: Banking, Bonds

Breaking news. Your local bank has been taken for ten grand. By an employee.

What now? Luckily, your bank is insured through a banker's blanket bond. It's a type of insurance that covers banks when employees steal, forge documents, commit fraud, or cause loss to a bank. No harm to you. Much harm to the bank's manager.

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Finance: What are Phishing Scams?8 Views

00:00

Finance a la shmoop what are phishing scams? all right you know when you're out [Woman on fishing boat with Dad]

00:08

on the lake with dad just the two of you trying to haul in some trout when one of

00:13

the fish pulls a fast one on you and hangs one of these things on your line [Fishing line with boot attached]

00:18

yeah total scam we're telling you you cannot trust anything that breathes

00:24

through the side of its face anymore these days really okay so that's a not

00:28

quite a phishing scam although the general idea is similar it's someone

00:33

trying to make you believe something that isn't exactly true with a phishing

00:38

scam the venue switches from the great outdoors to cyberspace never gotten an [A wooden hut appears]

00:44

email from a Nigerian prince who's temporarily down on his luck and if

00:48

you'll just wire him three hundred bucks in cash immediately well immeasurable

00:54

riches await you it sounds like a little good to be true there right yeah and it [Man gives thumbs up in room]

00:59

is well usually that Nigerian prince is an overweight balding guy named Jerry

01:04

living in his mom's basement in a suburb just outside of Cleveland he'd love

01:09

nothing more than to hook a sucker you and take that 300 bucks [Jerry on his computer]

01:13

off your hands but many times the scam is much more intricate than that often

01:18

its identity thieves who are trying to con you into releasing private

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information such as your social security number or credit card information mm-hmm

01:28

that's out there well they might try to convince you that

01:30

their Amazon support or your bank or your long-lost uncle Yusuf who just [Person flicking through e-mails]

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needs a few personal details before he can FedEx you your large inheritance

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don't fall for any of it anytime you're randomly asked to divulge any sensitive

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information or pop a wad of cash in an envelope stop for a second and ask

01:51

yourself whatever you might be well a fish and then ask yourself whether you'd [Cash burning]

01:55

like all your hard-earned money to be sauteed or flame-broiled good stuff...

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