Pause. Verify. Protect.

From a young age and still to this day, I have always tried to save as much money as I can. I do this so I can live securely, be prepared for the unexpected, and know I am covered if something goes wrong. I tend to plan for the worst, just in case. As an adult, I see even more clearly how scary the world can be, especially as fraudsters continue to get better and more sophisticated at scamming people out of their hard-earned money.

As a banker, I see this happen far too often. Thankfully, many times we are alerted before any money leaves the account. Unfortunately, there are also cases where people come to us after the fact, and once money is gone, there is often very little we can do to recover it. This is why education and awareness are so important. Knowing how to stop fraudsters in their tracks helps protect your financial security.

Scams can look extremely convincing and often create a strong sense of urgency. One common type of scam we see is wire fraud. Wire fraud occurs when someone pretends to be a trusted individual or organization and convinces you to send money through wire transfer. These requests may come through email, text message, or phone call, and they can appear very legitimate.

Once a wire transfer is sent, the money is often very difficult—if not impossible—to recover. That is why stopping fraud before it happens is so critical. These scams usually begin with the fraudster reaching out and trying to gain your trust. They are highly skilled, persuasive, and trained to sound believable. Often, they pose as your bank, employer, real estate agent, attorney, title company, government agency, or a company you regularly do business with.

Fraudsters commonly use phrases like, “This needs to be done right away,” or “Please don’t discuss this with anyone else.” That sense of urgency and secrecy is always a major red flag. If you are rushed or pressured, if payment instructions suddenly change, or if you are asked for online banking login information or other sensitive details, it is very likely a scam. At that point, you should stop communicating with the individual immediately.

If anything ever feels off, please do not hesitate to reach out to us using a phone number you already have or one listed on the Bruning Bank website or simply stop in. We are trained to spot fraud and are always willing to help you slow down, pause, and think through the situation.

As a bank, we will never contact you to ask for your online banking password, your full Social Security number, or tell you to wire your money somewhere to “protect it.” If you receive a phone call requesting any of this information, hang up and call us back using a trusted number.

If you are ever concerned or believe you may have already fallen victim to fraud, please reach out right away. We will never judge. We understand that fraudsters are extremely good at what they do and are constantly evolving their tactics to trick people.

If something doesn’t feel right, trust yourself. Protect your future and reach out to us.

-Hailey Dixon, Senior Relationship Manager-