Fraud Awareness | Glens Falls National Bank

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Watch for Imposter Scams and Other Fraud

Updated February 20, 2024

Scammers are getting smarter and diversifying their tactics every day. According to the Federal Trade Commission, imposter scams were the most common type of fraud at the end of 2023, resulting in $2.7 billion lost just last year.

Scammers may try to trick you by impersonating a financial institution or other trusted businesses or pretending to be a loved one in need of large sums of money.

Spot the Imposter Scam

To combat this type of fraud, you must first spot the scam. For instance, scammers impersonating your bank’s “fraud department” or possibly a familiar representative will often make first contact with you through unexpected messages that quickly pressure you to give up personal information, like a password or PIN. Once scammers gain access to your account, they can steal your money in a matter of seconds.

Imposter scammers often use a tactic called spoofing. Spoofing occurs when a scammer disguises the phone number of a call or text message, or the “from” address of an email.

Please remember: We will never ask you for your login password, PIN, or your temporary One-Time Passcode! If anyone asks for that information, hang up the phone or do not respond to the text.

Ways to Protect Yourself

Here are ways to avoid becoming a victim of fraud.

  • Do not give out your personal information, including passwords, PINs or Social Security number to anyone you have not contacted at a published number. We as your financial institution will never ask for passwords or PINs.
  • Watch for spoofed texts or emails that appear to come from official organizations or familiar contacts, but in fact come from unknown numbers, and may have spelled the spoofed contact name incorrectly.
  • Trust your instincts. If something seems suspicious or you feel pressured, hang up the phone or delete the text message or email.

How to Report Fraud

If you suspect fraud on any of your Glens Falls National Bank accounts, contact us right away.