Security & Fraud

Types of Fraud

Phishing, SMiShing, and malware are just a few examples of the fraudulent activities that can affect your account and personal information. From unintentional data breaches to rogue mobile banking apps, there are numerous potential threats to your financial security. Understanding the wide range of fraudulent activities you may encounter is crucial to protecting your assets. We’ve developed a list of the most common types of fraud, along with tips for avoiding each type and for recognizing the signs of scams and theft.

Data breaches can fall into two categories: intentional and unintentional.


Intentional breaches occur when data is accessed, viewed, stolen, or used by someone who is not authorized to do so. These types of breaches are often committed by criminals who target the company in an attempt to steal consumers' personal and financial information. The criminal may use it to commit fraud or sell it to others. This often leads to new financial accounts in the victims' names (also known as account fraud), counterfeit cards, and phishing scams.

An unintentional breach is often due to the negligence of an employee who mishandles or inadvertently exposes data and does not always lead to fraud.

Consumers are protected when retail point-of-sale breaches happen.
You will not be held responsible for unauthorized transactions made using your card when they are promptly reported to Ocean City Home Bank. In the case of unauthorized activity, your card will be replaced free of charge.

Be Alert

  • Check your account often for suspicious activity - either through the Internet, phone or ATM statements.
  • Sign up for text or e-mail alerts from Ocean City Home Bank for certain types of transactions, such as online purchases or transactions of more than $500.
  • If you have a reason to suspect fraud, contact Ocean City Home Bank right away by phone (609-927-7722) or stop by your local branch.
To request a personalized Identity Theft Seminar, call Patty Ferry at 609-927-7722 ext. 4014.


What is Identity Theft?
Identity theft occurs when someone illegally obtains your personal information - such as your Social Security number, bank account number or other identification - and uses it to open new accounts or initiate transactions in your name.

Recognize Identity Theft and Fraud
Identity thieves can strike even if you've been very careful with your personal information. The following may be signs of identity theft:

  • If you find new accounts on your credit report that are not yours
  • If you did not receive an expected bill or statement by mail
  • If you receive credit cards or billing statements on accounts you didn't apply for
  • If you are denied credit or are offered less than favorable credit terms for no reason
  • If you get calls from creditors or debt collectors regarding merchandise or services that you did not buy

Fraud is an act that occurs when someone uses your account to make unauthorized transactions, usually when the account number or card has been stolen.

The following may be signs of fraud:

  • If you did not receive an expected bill or statement by mail
  • If unexpected charges occurred on your account
  • If there are charges on your account from unrecognized vendors
  • If posted checks appear on your account significantly out of sequence

Additional Resources

Types of Online Fraud


Email Fraud/SPAM
The objective of spamming is to gather personal information that can be used to steal your money and/or your identity. Criminals may also send you attachments and links that will lead you to spoof sites or cause you to inadvertently download harmful software to your computer.

  • Never send your personal information to an unknown source via email or text message.
  • If you do not know the source of an email or text message, delete it.
  • Keep your computer firewall, anti-virus, and anti-spyware software up to date.

Spoof Websites/Phishing
Through the use of fraudulent emails, internet thieves attempt to "phish" for your confidential information. They attempt to steal this information from you by means of "pop-ups" or emails with internet links to deceive you into disclosing sensitive information (such as bank account numbers and Social Security numbers).

Malware, short for "malicious software," includes viruses, spyware and Trojans that are designed to infiltrate or damage a computer system. Malware is often used to steal personal information and commit fraud. There are several easy ways to minimize the risk of malware:

  • Avoid downloads from file sharing and social networking sites, which can be distribution points for malware.
  • Do not open email attachments or install free software from unknown sources.
  • Do not click on pop-up advertisements asking for personal or financial information, simply close them.
  • Regularly update your security and system software and protect your computer from malware threats.

What you should look for:

  • Asking for personal information should raise a flag since Ocean City Home Bank will never send you unsolicited emails with embedded links or pop-up windows that ask for confidential information, such as your Social Security number, account numbers, ATM or Debit Card PIN.
  • Urgent appeals claim that your account may be closed if you fail to confirm, verify or authenticate your personal information. Ocean City Home Bank will never ask you to verify information in this way.
  • Offers that sound too good to be true often are. For example, you may be asked to fill out a short customer service survey in exchange for money being credited to your account, and you are then asked to provide your account number for proper routing of the supposed credit. Ocean City Home Bank will never ask you to provide your account number to receive a prize or reward.
  • Typos and other errors are often the mark of fraudulent emails or websites. Be on the lookout for typos or grammatical errors, awkward writing and poor visual design.
Types of Mobile Fraud


Rogue Mobile Banking Apps
Criminals may repackage and publish third party malicious apps that look like Ocean City Home Bank's mobile banking apps. Once downloaded the fraudulent app may implant a Trojan on your phone to steal your Online Banking credentials.

Mobile Malware
Just like computer malware, mobile malware is malicious software that is installed on your smartphone with the intent to steal sensitive information and data stored on your phone.

SMiShing is a form of criminal activity via cell phone messages to deliver the "bait" to get you to divulge your personal information. The criminal may pose as your bank and use text messages in an attempt to gain access to confidential account information.

Lost or Stolen Devices
Mobile phones and tablets offer convenience, but they're also easy to lose or steal, which can put your information at risk.

If your mobile device is stolen or lost:

  • Immediately contact your wireless carrier to report the incident and suspend your mobile number.
  • Report the theft to the police, including the make and model, serial and IMEI or MEID number. Some carriers require proof that the device was stolen, and a police report would provide that documentation.
  • Call our Customer Care Center at 609-927-7722 to delete your mobile device from your Preference Center.
  • You should change any passwords for online accounts you access through your mobile device as soon as possible. (For example your Online Banking password).
  • For additional information on lost or stolen mobile device, view Stolen and Lost Wireless Devices from the FCC.

Protection Tools
Report Fraud