The Mexican bank I have been using for nearly 10 years now, sent an email in June focused on how cyber criminals tap into our emotions to gain access to our bank accounts or passwords. Intercam Banco clearly spelled out how those with an illicit intent activate our emotions to take advantage of us. These evil doers tap into a sense of urgency, anger, surprise, and even happiness (you have won) to lure us into clicking and unleashing their phishing attack.
For a few weeks now, I intended to share Intercam’s email because it not only did a great job of identifying email phishing schemes, but because it could be used to show how, in general, we make poor decisions when we are stuck in emotions. In a twist of fate, I had to use what I learned in Intercam Banco’s email to deal with a situation with that very bank.
A few weeks ago, Intercam Banco, along with two other Mexican financial institutions, was accused of money laundering. For the past decade, I have trusted Intercam with my US dollars and Mexican pesos. I found them to be trustworthy, law abiding, and professional. Personally, I believe that Intercam has been wrongly accused based on my firsthand experience with international transfers. No matter their innocence, I was one of many who were affected by this accusation launching a string of emotions.
First there was Fear and Uncertainty. What was going on with the bank overall and with my money specifically?
Then there was a sense of Urgency. I had to make a decision to withdraw my US dollars or trust the bank to convert the amount to pesos by the specified deadline.
As I started to understand the situation and my options, Anger emerged. I had literally just dialed in our banking for my husband’s business and was more than a little annoyed that all of that work was now null and void. Once I accepted the relief that my finances were safe, I wondered what would happen to the bank employees who had become my friends. I wondered what would happen to the small businesses in Cabo San Lucas which depend on tourist US dollars which could now no longer be easily and economically converted. I felt bad for those I knew who were in the midst of home purchases that were now murky because of the state of the bank. So many people were negatively affected by unsubstantiated accusations.
Through this process,
- I allowed myself to feel and express my feelings – and then release them so I could make clear-headed decisions.
- I heard but confirmed or clarified rumors. I acted from actual facts, not fear or rumors.
- I paused. I investigated the options and deadlines, and then paused before making decisions. This one was powerful. If I had acted immediately out of fear and misinformation, I could have made mistakes financially. And now I have learned that I could have paused even longer as it appears that the July 21st deadline has already been extended to September 4th.
- Finally, I acted – from a place of information and centered emotions. By pausing and gathering facts, not emotions, when I was ready to act it came from a place of real information and centered thinking.
No matter the circumstances, I have found that reacting from emotions has never served me. It is important not to suppress our emotions. They have their place. Our feelings are there as indicators of when boundaries have been crossed or when there is danger. But acting, really reacting, from an emotional state can cause larger problems. My process is to notice and release my emotions. Gather data. Pause – this helps to fully disconnect from the emotion. And then only with a clear head and all the information, take action. Thankfully that processed served me in this situation.
