Every day, thousands of people fall victim to fraudulent emails, texts and calls from scammers pretending to be their bank, a loved one, the government or law enforcement. And in this time of expanded use of online and mobile banking, the problem is only growing. In fact, the Federal Trade Commission’s report on fraud estimates that American consumers lost a staggering $12.5 billion to phishing scams and other fraud in 2024 — an increase of 25% over 2023.
Look for these red flags
- You’re pressured to log into or send money with payment apps
- You’re contacted out of the blue, asked to act immediately and keep it a secret
- You get a text that includes a suspicious link
- You’re emailed an attachment that you weren’t expecting
- You’re asked for personal information like your PIN number, passwords or Social Security number
MutualOne Bank has teamed up with the American Bankers Association to help customers learn how to spot a scam to protect themselves and their finances. Throughout the month of October we will be sharing more tips, tricks and links designed to help you learn how to spot, and avoid, a scam to Facebook, Instagram and LinkedIn.