Fraud Is at an All-Time High—Here’s How We’re Helping Protect You

 

Every year, fraudsters steal billions of dollars from unsuspecting individuals—many of whom were simply trying to help someone they trusted. Unfortunately, scammers are more convincing and aggressive than ever. That’s why we’ve taken extra steps to help protect our customers from falling victim to financial fraud. One of the most critical moments we can intervene is during a large cash withdrawal.

 

Why We Ask Questions About Large Withdrawals

If you've recently requested a large withdrawal, you may have noticed that we ask a few additional questions. This isn't to be nosy... it’s to keep your hard-earned money safe. It’s a quick, private checklist our staff uses to look for common warning signs of fraud or a scam. Sadly, many scam victims don’t realize they’re in danger until it’s too late. Here are some of the top indicators we ask about—and why they matter:

 

12 Common Red Flags of a Scam

 

• Someone is on the phone with you while you’re making the transaction - Scammers often coach victims live, urging secrecy and rushing decisions.

• You were told not to tell anyone what the money is for - Isolation is a manipulation tactic. It’s always ok to tell them you’ll call them back and call someone you trust to verify the validity of the call first.

• You were asked to lie about the reason for the withdrawal - If you were told to say you’re buying a car or doing home repairs, something’s likely off.

• You're sending money to someone you've never met - Romance and online friendship scams prey on emotions and trust.

• You were instructed to buy gift cards - No legitimate business or government agency ever demands payment this way.

• Someone connected to your phone or computer - This may give scammers full access to your accounts and sensitive information.

• A “government official” demanded money to avoid legal trouble - IRS, police, and immigration scams often use fear to pressure quick action.

• You received a deposit and are told to send it elsewhere - They give you a bogus check to deposit, but before it clears, you send them the money. The check comes back and you’re out that money – it’s more common than you think.

• You were told you won a prize but need to pay fees first - If you have to pay a fee to claim it, it’s not a real prize.

• You got an urgent call about a family emergency - Scammers impersonate loved ones in distress to trigger panic.

• You’re being told to deposit cash into a Bitcoin ATM - Cryptocurrency is often used because it’s untraceable.

• You feel harassed, threatened, or afraid something bad will happen - Fear-based scams are emotionally manipulative and dangerous.

 

What to Do if Something Feels Off

If you answered “yes” to any of those questions—or you’re just not sure—pause before proceeding. You can always step away and talk to a trusted family member or come speak with a bank representative privately. Your safety matters more than any transaction. We’re here to support you, not judge you. And we’ve seen it all—so don’t hesitate to ask for help. At the end of the day, our goal is simple: to help protect you, your money, and your peace of mind.

 

Here are some helpful links for Fraud Prevention...

How to Prevent Debit Card Fraud

Here are steps you can take to protect yourself:

• Review your statement each month. Online bank accounts typically offer a transaction log where you can regularly review your purchases, but it’s also worthwhile to run through your statements each month to see if you missed any unusual activity. If you find a questionable charge, be sure to contact your debit card issuer immediately.
• Keep statements in a safe place. Physical statements you decide to keep should be put somewhere safe. Shred statements that you don’t need.
• Keep tabs on your debit cards. Since so many transactions today happen virtually without an actual card swipe, you might not use your physical card on a daily basis. Keep track of which wallet your cards are in so they don’t fall into the wrong hands. If you lose a card or think it may be stolen, report it right away.
• Be careful about where you store your data. Avoid storing your debit card number or PIN on your device or sending it through text or email. If someone gets access to your phone, computer or email, they could have all the information they need to take money from your account.
• Protect your debit card when shopping online. Scrutinize online stores before shopping because scammers can set up shops with bad intent. There are several precautions to take when making online transactions:
  • Before entering debit card information, make sure there’s an “https” (the “s” means secure) before the website name in the address bar and that there’s a padlock icon next to it.
  • Watch out for phishing scams, which often come in the form of fraudulent emails or text messages pretending to be from banks or retailers.
  • Only give a business your debit card number if there’s a valid reason and after you’ve determined that the company is reputable.
  • Consider paying with a credit card or a prepaid card when paying online to protect your account.
  • Avoid making purchases on unsecured networks.

While you may not have the power to prevent big data breaches or theft fully, early detection of fraud can help minimize loss. Being hypervigilant could pay off if you catch fraud before someone is able to take off with a large sum. Review your bank account regularly and call the number on the back of the card if you identify unauthorized transactions.