A deep dive on our new scam protection
4 min
In this article, we’ll cover what’s included in our new Allstate Scam Protection℠, including our scam, digital crimes, and social engineering loss reimbursement, our proactive scam detection and defense, scam takedown tool, and more.
Consumers across the United States are seeing more and more scams with the average American seeing around 347 scam attempts each year. And with access to AI and a plethora of personal information such as dates of birth, phone numbers, emails, and more available on the web, it’s easier than ever for scammers to launch effective scams.
While this is bad news for consumers, it's also bad news for employers and financial institutions. For employers, more effective scams could mean a higher likelihood of company information being leaked and financial implications like stolen company funds. For financial institutions, it means customers are suffering greater financial losses, which can place a greater burden on internal teams as they support these customers and may make some customers less likely to purchase financial services.
In response to these modern challenges, we launched Allstate Scam Protection℠, a suite of features meant to protect our members from scams by actively blocking suspicious links, calls, and texts, educating them on the latest scams, and protecting their finances from the fallout of a scam.
Scam loss reimbursement
For victims of scams, the financial fallout can be one of the most damaging aspects of the incident. With the median bank account balance having around $8,000, even the loss of a $1,000 can be a devastating event. That’s why our coverage offers up to $50,000 in reimbursement for losses related to scams, digital crimes, and social engineering†. This can cover a wide range of the most common scams, including:
IT scams
But our reimbursement coverage goes well beyond common scams, too. Our coverage also provides reimbursement for ransomware payments in the event that a member experiences a ransomware attack in which they must pay a hacker to regain access to their device, as well as fees associated with restoring or repairing the device.
The same $50,000 coverage extends to the cost of data recovery and system restoration to help our members regain access to the information and data that matters most to them. And since it’s so difficult to recover cryptocurrency funds lost to a scam, we also cover cryptocurrency funds reimbursement.
Fast Facts
real scam reimbursement stories
An investment scam led to major losses
Nearly $50,000 reimbursed
A match on a dating app quickly turns into daily messages and late-night chats. Over time, the person opens up about their financial success and offers to help get started with a “can’t-miss investment opportunity.”
The funds are transferred, but then the messages suddenly stop, and the “investment” platform disappears. After reporting the scam, the member was reimbursed in full.*
The chance to earn extra money turns out to be a scam
Over $38,000 reimbursed
An official-looking representative reaches out with an offer to pay commission for items sold on an online marketplace. They insist that a cryptocurrency account be opened to receive payment, which requires an initial payment of $500. The representative requires even larger fees to withdraw the money. The fees are paid, and suddenly there’s complete silence—it becomes clear it’s a scam. The member files a claim and can recoup the full amount lost.*
A law enforcement impersonation scam put the pressure on
Over $15,000 reimbursed
It starts with a phone call that sounds official. Someone claiming to be from a local police department, saying a missed court date has triggered fines and warning that arrest could follow without immediate payment.
A payment is made to resolve the issue quickly. Only later is it confirmed to be a scam. Thankfully, after filing a claim, the member was reimbursed for the full amount lost.*
Proactive scam protection
We recognize that reimbursement is a critical aspect of protection; however, we also recognize that stopping a scam before it happens is the best possible scenario. That’s why our protection includes proactive scam protection to help our members detect and avoid scams on their devices.
And our mobile scam alerts feature automatically scans through texts, messages, emails, notifications, applications, calendar invites, and more to actively protect members of a potential scam. In fact, if a member clicks on a message or notification that contains a suspected scam, our solution will prevent them from opening it!
This feature looks for links that may lead to scams, including sites that may be trying to illicit fraudulent payments or steal a member’s information. Our web protection feature also analyzes websites visited, so members are better protected from visiting a site that may compromise their device or steal their information.
Scam Safety Center
When it comes to stopping scams, we want to equip consumers with everything they need to help avoid becoming a victim—and help their family members better protect themselves as well. That’s why we’re creating the Scam Safety Center, a centralized resource that consumers can use to get updates on the latest scams and receive expert guidance on what steps to take if they suspect a scam or have fallen victim to a scam.
With this critical information available for everyone, consumers are better equipped to not only recognize scams but also take the right initial steps when they suspect they are being targeted by a scam.
Scam takedown
Have you ever received a text, email, or call that was clearly a scam and thought to yourself, “I wish I could report that scam so it doesn’t harm anyone”? Well with our scam takedown tool, members can.
Included as part of our email threat scan tool, scam takedown allows our members to report a scam link to our team, who will work to have the scam site taken down when possible.
While this won’t result in the takedown of every scam, it is a critical resource that our members can use to take the fight to scammers and play a part in helping to reduce scam losses. And with every scam members take down, it makes it harder for scammers to victimize other people as the scam link is permanently taken down and cannot be used again.
Ready to learn more about our new scam protection and how it can protect your employees and consumers? Contact our sales team.