Fraud Prevention Awareness: Watch Out for Imposter Scams!

What is an imposter scam?

When someone pretends to be a representative of a company or organization you trust to get you to send money or provide sensitive personal information, it’s called an imposter scam.

Unfortunately, imposter scams come in all shapes and sizes. The more information fraudsters have on you, the more creative they can be with how they try to steal your money or personal information. That’s why it’s important to take steps to make sure the person you are communicating with is who they say they are!

Types of imposter scams

Here are some common types of imposter scams:

• Government imposter scams. With tax season in full gear, fraudsters can prey on you by pretending you owe the IRS money for taxes and could even threaten to take legal action if you don’t comply. Or, a scammer could call you and claim there’s a problem with your Social Security account or promise to increase your government benefits.
• Charity scams. Ever contribute to your local nonprofit? In this case, scammers pretend to be from a real or fake charity and ask you to contribute.
• Grandparent scams. This occurs when a fraudster pretends to be a grandchild or relative who needs financial help.
• Tech support scams. Scammers threaten your online security by saying that your computer is at risk and try to remotely gain access to your accounts so they can steal money or personal information like account logins and passwords.

Signs of an imposter scam

Be cautious of phone calls, emails, or text messages that include these red flags:

• A sense of urgency. No organization should ever ask you to act or send money immediately.
• A request for personal or financial information.
• Instructions to send cash, prepaid debit cards, gift cards, or other unusual forms of payment.
• Offers or situations that seem too good to be true.
• Typos or poor grammar in communications.

How to protect yourself

• Confirm the identity of the organization the scammer is claiming to represent by visiting their verified website or calling their official published phone number.
• Do not provide personal data (Social Security number, date of birth, etc.) or financial information (account numbers or passwords) via email, phone, text, or social media.
• Do not click on links or download attachments from unsolicited emails or texts.
• Don’t provide remote access to your computer or other devices.

 What to do if you’ve fallen victim to an imposter scam

Take the following steps:

• Contact the financial institution (bank or credit card company) you used to send the money and let them know what happened.
• Report the fraud to the FTC at ftc.gov.
• Alert any other financial institutions you may use, the three credit bureaus, Social Security, and the IRS that you were a victim of a scam and your personal information may have been compromised.

 bankESB is looking out for you.

We’re committed to keeping you informed about the latest scams and ways to protect your money and personal information. For more information about valuable tools to help you monitor your account activity, check our website, stop by your nearest office, or call Customer Care at 855.527.4111.