Is "COMENITY CAPITAL BANK Bill Payment" fraud?

Written by Jemina Owen-Jones

May 18th, 2024

The Fake Bread Financial Receipt Scam

Meet Amelia. As a small business owner, she takes her finances seriously. Early one morning, as she reviewed her business bank statement, Amelia noticed a large, unfamiliar charge coded as "COMENITY CAPITAL BANK Bill Payment" from Bread Financial - a merchant she didn't recall doing business with.

Puzzled, later that day, she clicked on an email that seemed to be from Bread Financial. It was an elaborate email, convincingly like a standard Bread Financial email, stating there was an issue with her account. It prompted Amelia to login to verify her information. Without giving it a second thought, Amelia clicked on the link provided and logged in with her credentials.

A day later, Amelia received a call from a number labeled as Bread Financial. The representative on the line seemed friendly and professional. He claimed to be following up on her recent login activity. The representative had noticed irregularities and wanted to confirm a few details. Amelia cooperated, wanting to ensure her Bread Financial account was secure.

Everything seemed normal until a few days later when more unauthorized transactions appeared on her bank statement. She immediately called her bank, where she discovered the harsh truth. She had been a victim of a scam: the site she logged into was not the official Bread Financial site and the call was from a fake representative. In her eagerness to rectify the situation, she had inadvertently given her confidential information to the scammer.

Once the initial shock wore off, Amelia took immediate steps to secure her accounts. She notified her bank about the scam, closed her compromised accounts, and opened new ones. After dealing with this frustration and emotional turmoil, Amelia vowed to never become a victim again.

Enter SimplyWise. Amelia discovered this app which warns users of potential scams and suspicious transactions. Even better, SimplyWise provides alerts for transaction codes and company names that users may not recognize. With SimplyWise on her side, Amelia felt more secure, trusting that she had a shield against any future financial scams.

How to Protect Yourself from Scams and Fraudulent Receipts

Scams can occur to anyone and they have become increasingly sophisticated. Therefore, it is crucial to stay on guard. Here are some steps to keep in mind:

1. Verify Emails: Always check the sender's email address carefully. A tiny typo or an odd-looking address can often expose a scam.

2. Avoid Clicking Links: Instead of clicking links in emails, access the official website by typing the URL into your browser.

3. Enable Two-Factor Authentication: This is an extra layer of protection for your accounts that goes beyond the simple username and password security.

4. Monitor Your Accounts: Check your bank and credit card statements regularly to catch any unauthorized or suspicious transactions swiftly.

5. Report Suspicious Activity: Upon receiving a questionable email or identifying unauthorized transactions, report it to the respective company and your bank immediately.

6. Use SimplyWise: The SimplyWise app assists you in managing your receipts and detecting unusual activities. Here’s how it works:

Step 1: Download SimplyWise

Download the SimplyWise app and connect your email account. SimplyWise will search through your emails and find all the receipts in your inbox. This allows you to understand what exactly you are paying for when you see a bank transaction on your statement.

Step 2: Connect your Accounts

Connect to your bank account/credit card transactions through the secure (256 bit encryption) Reconciliation feature within the app.

Step 3: Reconcile

Reconcile the charges reported by your financial institution against what you’ve recorded in your SimplyWise account. Find fraud quickly! SimplyWise will match your transactions to your bank/credit card spending and check those items off.

Find fraud quickly!

SimplyWise will match your transactions to your bank/credit card spending and check those items off.

Amelia's experience reminds us all that scams can happen to anyone, even the most diligent among us. By staying informed and cautious, you can protect yourself from falling victim to similar scams. With tools like SimplyWise, you can add an extra layer of security to your financial life, making it easier to manage receipts and detect fraudulent activity before it becomes a major issue. Always remember, protection of your hard-earned money is not a destination but a continuous journey.

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