Fraud & Scams: How to Protect Yourself and Your Money

Fraud & Scams: How to Protect Yourself and Your Money

At Security Bank USA, protecting our customers and their financial information is always a priority. Unfortunately, scammers are becoming increasingly sophisticated, using convincing phone calls, emails and text messages to trick people into sharing personal information or sending money.

One scam we're reminding our customers to watch for is bank impersonation fraud. Here's what you need to know to help keep your finances safe.

Beware of Bank Impersonation Scams

Imagine receiving a phone call from someone claiming to be from Security Bank USA. They tell you there's suspicious activity on your account and that they need to verify your information to protect your money.

It sounds legitimate. They may even know your name or some details about your account.

But here's the catch: Scammers can manipulate caller ID to make a phone number appear to belong to a trusted business, including your bank. They may use urgent language to pressure you into acting quickly, hoping you won't have time to question the call.

If you receive an unexpected or suspicious call from someone claiming to represent Security Bank USA, hang up and contact us directly at 218.751.1510.

Never rely on the phone number displayed on your caller ID to verify a caller's identity.

Red Flags to Watch For

Scammers often use fear, urgency and confusion to get what they want. Be cautious if someone claiming to be from your bank:

• Says your account has been compromised and you must act immediately.
• Requests your online banking password, PIN or one-time security code.
• Asks you to transfer money to a "safe" account to protect it.
• Tells you to withdraw cash or purchase gift cards to resolve a supposed issue.
• Requests that you install software or give them remote access to your computer or phone.
• Pressures you to keep the conversation secret or discourages you from contacting your bank directly.

Remember, a legitimate-looking phone number or a caller who knows some of your personal information does not guarantee that the call is real.

Other Common Scams to Keep on Your Radar

Bank impersonation is just one way fraudsters attempt to access your money. Here are a few other scams worth knowing about.

• Phishing emails and text messages: Fraudsters send messages that appear to come from a bank, delivery service or other trusted business. They may claim there's a problem with your account and ask you to click a link or provide personal information.
• Fake fraud alerts: You receive a text or call about a suspicious transaction you don't recognize. The scammer may ask you to confirm your identity by sharing a security code or clicking a link.
• Payment scams: Someone asks you to send money through a payment app, wire transfer or gift card. Once the money is sent, it may be difficult or impossible to recover.
• Tech support scams: A pop-up, phone call or email claims your computer or account has a security problem. The scammer then asks for remote access, payment or personal information.
• Check scams: Someone sends you a check and asks you to deposit it, then return part of the money or send funds elsewhere. Even if the money initially appears in your account, the check may later be returned as fraudulent.

What Should You Do If You Suspect a Scam?

If something doesn't feel right, trust your instincts. Taking a moment to verify a request can make a big difference.

1. Stop and don't respond. Don't click links, share information or send money.
2. Contact us directly. Call Security Bank USA at 218.751.1510 or come directly to the bank.
3. Secure your accounts. If you believe your online banking credentials have been compromised, contact us promptly so we can help you take the appropriate steps.
4. Monitor your accounts. Review your transactions regularly and report anything you don't recognize.
5. Report the scam. If you have lost money or shared sensitive information, contact your bank immediately and consider reporting the incident to the appropriate authorities.

A Few Simple Habits Can Help Protect You

Staying safe doesn't have to be complicated. A few everyday habits can help reduce your risk of becoming a victim of fraud:

• Use strong, unique passwords and enable multifactor authentication when available.
• Keep your phone, computer and apps updated.
• Avoid clicking unexpected links or opening suspicious attachments.
• Never share your password, PIN or one-time security codes with someone who contacts you unexpectedly.
• Take your time when someone pressures you to make a financial decision.

We're Here to Help

At Security Bank USA, we're proud to be part of the Bemidji community, and that means looking out for one another. Fraud prevention is a team effort, and we're here to help you protect what matters most.

If you ever receive a suspicious call, text or email claiming to be from our bank, don't hesitate to reach out. Hang up and call us directly at 218.751.1510.

When it comes to protecting your finances, it's always better to be safe than sorry.

Security Bank USA
Here for Good.