How to Spot Phishing Scams: Protect Your Bank Account

Can You Spot a Phishing Scam? | Rivers Edge Bank

How to Protect Yourself from Phishing Scams in 2024

Every day, thousands of people fall victim to phishing scams through fraudulent emails, texts, and phone calls from scammers pretending to be their bank. With the increased use of online banking and mobile banking, these scams are becoming more prevalent. According to the Federal Trade Commission (FTC), American consumers lost over $10 billion to phishing scams and other types of fraud in 2023—a 13.6% increase from 2022.

What is a Phishing Scam?

A phishing scam occurs when a cybercriminal impersonates a legitimate organization, often a bank, to trick individuals into providing sensitive information, such as login credentials, account numbers, or Social Security numbers. Phishing scams can lead to identity theft, financial loss, and compromised security.

How to Spot Phishing Scams: Protect Your Bank Account

At Rivers Edge Bank, we’re committed to safeguarding your account and helping you recognize phishing scams.  Check out our Cyber Security web page, a tremendous resource for any of your questions on how we protect your banking information and what you can do to help protect it too.  We’ve also partnered with the American Bankers Association to raise awareness and help our customers avoid being victims of scams.

Here’s what you need to know: Banks Never Ask That. This simple phrase will help you identify phishing attempts. If something feels suspicious, trust your instincts.  It is always better to have too much doubt and question a legitimate link rather than clicking a link you shouldn't have because you thought it would be okay. 

Common Phishing Scams: What to Look For

Here are some of the most common phishing scams—packed with red flags:

1. Text Message Phishing (Smishing)

If you receive a text from someone claiming to be your bank asking you to sign in, provide personal information, or click a link, it’s a scam. Banks Never Ask That via text.

2. Email Phishing

Emails that ask for personal information, instruct you to click a suspicious link, or claim to be from your bank are phishing scams. Always remember: Banks Never Ask That through email.

3. Phone Call Phishing (Vishing)

Your bank will never call to ask for your account number or personal information over the phone. If you receive such a call, hang up and call your bank directly using a trusted number. Banks Never Ask That.

4. Payment App Scams

Beware of text messages saying your account was hacked and asking you to send money to a new account. This is a scam! Banks Never Ask That through payment apps.

Stay Safe Online: Share This With Friends and Family

You’ve probably encountered some of these scams before, but scammers keep trying. Stay ahead by visiting BanksNeverAskThat.com for more tips, videos, and a fun interactive quiz to help you stay scam-free. Share these resources with your friends and family so they can stay protected, too.

Cyber Security | Rivers Edge Bank