Fraud is on the rise. According to the Federal Trade Commission (FTC), consumers lost $12.5 billion (yes, billion) to fraud in 2024.  And, that’s only what was actually reported. A popular tactic for fraudsters is to pretend they are someone you trust, like a bank representative or a government employee. 

Bank Imposter Scams: A Growing Threat

Bank imposter scams were the leading category of reported fraud in 2024.  Examples of these include:

  • Fake Purchase Verification. You get a text message from your bank asking you to verify a purchase that you didn’t make.  When you respond to decline the purchase, they ask for your personal account information which they can then use to steal money from your account. The FTC reports that the average victim of this scam lost an average of $3,000 plus was at risk of identity theft.

  • Urgent Security Issue. You receive a call or text from someone claiming to be the bank stating there is a security issue with your account, creating a sense of urgency.  When you respond, they ask you for your account number, password, social security number, or more. Again, this information can be used to steal from you.

  • Refunds, Overpayments and Virus Warnings. Other ways bank imposters may attempt to trick you into giving up your personal information include contacting you about an overpayment you made or a refund you are owed, or alerting you of a virus on your computer asking for remote access to fix the issue.


Be Suspicious of These Red Flags

  • Unexpected calls, texts or emails when you didn’t initiate contact. If something seems odd, do not respond, but contact your bank instead.

  • Request for sensitive information.  A legitimate bank will NEVER ask you for your PIN, password, social security number, or verification codes sent via text or email.

  • A sense of urgency and pressure to act now.  End the communication, pause, take a breath and contact your bank.


Additional Ways to Protect Yourself

  • Never respond to unsolicited communications with your personal information. Contact your bank and verify the request. 

  • Enable multi-factor authentication on your accounts for an extra layer of security.

  • Monitor your accounts regularly for any unauthorized activity.

  • Stay informed.  Marine Bank’s website features many blogs that address identity theft, fraud prevention and cybersecurity.

Have questions?  Contact one of our banking centers and we’ll be happy to assist you.  If you believe that you have been the victim of an imposter scam, report it to the Federal Trade Commission.