Beware of Bank Imposter Scams

Bank imposter scams are becoming increasingly sophisticated and widespread, posing significant financial risks. These scams involve fraudsters pretending to be your financial institution, attempting to steal sensitive information like account numbers and passwords. Staying informed and vigilant is crucial to protect yourself and your finances. Here’s what you need to know about these scams and how to safeguard against them.

Common Tactics Used by Scammers

• Phishing Emails: Scammers send emails that appear to be from your financial institution, often including official logos and language. These emails may contain links to fake websites designed to steal your login credentials.
• Vishing (Voice Phishing): Fraudsters call you, claiming to be from your financial institution’s fraud department. They may use spoofed phone numbers to make the call appear legitimate and ask you to verify your identity by providing personal information.
• Smishing (SMS Phishing): You receive text messages that seem to be from your financial institution, urging you to click on a link or call a number due to urgent issues with your account.
• Social Media Scams: Imposters may create fake social media profiles pretending to be your financial institution and attempt to gather information through direct messages.

How to Recognize a Bank Imposter Scam

• Unexpected Contact: Be cautious if you receive unsolicited communication from your financial institution, especially if it asks for personal information.
• Urgency and Fear Tactics: Scammers often create a sense of urgency, claiming your account has been compromised and immediate action is needed.
• Unusual Requests: Financial institution will never ask for your password, PIN, or complete Social Security number via email, phone, or text.
• Suspicious Links: Hover over links to see the actual URL. If it looks suspicious or doesn’t match your financial institution’s official website, don’t click it.

Steps to Protect Yourself

• Verify the Source: If you receive a suspicious email, call, or text, contact your bank directly using the phone number on your bank statement or the official website.
• Do Not Share Personal Information: Never provide personal or financial information in response to unsolicited communications.
• Use Strong Passwords: Create unique, strong passwords for your bank accounts and update them regularly. Avoid using the same password across multiple sites.
• Enable Two-Factor Authentication: Add an extra layer of security to your online banking accounts by enabling two-factor authentication (2FA).
• Monitor Your Accounts: Regularly check your bank statements and account activity for any unauthorized transactions.
• Report Suspicious Activity: If you suspect you’ve been targeted by a scam, report it to your financial institution immediately. They can help secure your account and prevent further fraud.

What to Do If You Fall Victim
If you believe you’ve fallen victim to a bank imposter scam, take immediate action:

• Contact Your Financial Institution: Inform them of the fraud so they can take steps to protect your account.
• Change Your Passwords: Update your passwords for all online accounts, especially those related to banking and finance.
• Monitor Your Credit: Keep an eye on your credit report for any signs of identity theft. Consider placing a fraud alert or credit freeze on your file.
• Report to Authorities: Report the scam to the Federal Trade Commission (FTC) at reportfraud.ftc.gov and your local law enforcement.

Stay Informed and Stay Safe
Remember, Provident will never contact you to ask for verification of your account, security, or personal information. If you receive a suspicious call, text, or email from someone claiming to be a Provident employee, do not share any information or reply. If it is a suspicious call, please hang up immediately. If in doubt, contact Provident directly at (800) 632-4600 to confirm.