Fraud is Evolving. So Must We.
By: Jeff Mumma, President & CEO, Antwerp Exchange Bank
Every week, we hear about new fraud attempts targeting consumers, businesses, and local organizations. Scammers are convincing, motivated, and increasingly sophisticated. They use technology and trust to steal money and personal information, which means all of us have to stay alert.
Many scams no longer come from a stranger knocking on your door. Instead, they arrive through text messages, emails, social media, and phone calls that appear legitimate. Criminals may claim to be from your bank, a government agency, a delivery company, or even a family member.
One of the most common fraud schemes continues to be text message fraud. You may receive a message claiming there is a problem with your account or that suspicious activity has been detected. The message often creates a sense of urgency and asks you to click a link or provide personal information.
Remember this simple rule: Never provide account numbers, passwords, one-time verification codes, or online banking credentials in response to an unsolicited call, text, or email.
Another growing concern is check fraud. Criminals are stealing checks from mailboxes, altering them, and attempting to negotiate them for larger amounts. If you regularly mail checks, consider using the post office rather than leaving outgoing mail in an unsecured mailbox. Monitor your accounts frequently and report suspicious activity immediately.
Seniors are often targeted through grandparent scams and imposter scams. Fraudsters may claim that a loved one is in trouble and needs money immediately. Their goal is to create panic and pressure victims into acting before verifying the facts. Whenever you receive an urgent request involving money, take a moment to slow down, contact the person directly, and confirm the story.
Technology plays an important role in protecting our customers. Banks today use sophisticated monitoring systems, fraud detection tools, and cybersecurity measures to help identify suspicious activity. However, the most effective defense remains an informed customer.
At Antwerp Exchange Bank, protecting our customers is one of our highest priorities. If you get a call from someone claiming to be from the Bank and something feels off, hang up and call your local branch or our main office at (419)258-5351. Scammers can make a phone number look local or familiar, so it is always okay to pause and verify. Please call us or stop in if something does not seem right. We would much rather answer a quick question today than help recover funds after a loss tomorrow.
We will never ask you over the phone for your account number, Social Security number, online banking credentials, or other personal information that could compromise your identity. We will also never ask you to withdraw cash, buy gift cards, send cryptocurrency, lie to the bank, or stay on the phone while completing a transaction. If someone tells you to do any of those things, please find a way to tell us. We can help protect your money before it falls into the wrong hands.
Community banking has always been about relationships. By working together and staying informed, we can make it much harder for fraudsters to succeed. We may ask a few extra questions from time to time, and we understand that can feel inconvenient. Please know our goal is simple: to protect your money, your identity, and your peace of mind.
We are also excited to share that our new Paulding office is opening soon. We have heard there are new faces in town and new families and businesses we have not had the chance to meet yet. If that is you, we would love to talk with you. Stop in, introduce yourself, ask questions, and get to know our team. Community banking works best when we know each other.
If you ever receive a suspicious message, call Antwerp Exchange Bank directly before taking action. Our team is always happy to help.
Fraud Prevention Tip of the Month: “Stop. Verify. Then Act.” A few extra minutes of caution can prevent months of financial headaches.
