Is Someone Pretending to Be Your Bank? How to Spot and Avoid Bank Scams Before They Happen

Scammers are creative, convincing, and constantly evolving. What used to be an obvious phishing email has become a polished phone call from someone who sounds exactly like they work for Apple, Microsoft, or even your own financial institution. The good news? Once you know what to look for, these scams become a lot easier to stop in their tracks.

Here’s a breakdown of the most common scams circulating right now,  and exactly what you can do to protect yourself and your family.

The Tech Support Scam: When “Apple” Calls Out of Nowhere

One of the most widespread scams targeting families today starts with an unexpected call, pop-up, or text message claiming there’s a problem with your device or account. The caller introduces themselves as a representative from Apple, Microsoft, or another major tech company — and they sound completely legitimate.

Their goal? To create enough panic that you act fast — before you think to question whether the call is real.

Once they have your attention, they’ll typically ask you to:

• Download software that gives them remote access to your computer
• Log into your online banking so they can “verify” your account is secure
• Transfer money to a “safe” account while the issue is resolved
• Pay for their services using gift cards, wire transfer, or cryptocurrency

The truth: Apple, Microsoft, and legitimate tech companies will never call you unsolicited about a problem with your device. They will never ask you to move your money or pay with gift cards.

What to do: Hang up. Do not call back the number they gave you. If you’re genuinely concerned about your device, contact the company directly through their official website.

Account Takeovers: When Fraudsters Get Into Your Online Banking

Account takeover fraud happens when a scammer convinces you, often through impersonation to hand over your online banking login credentials. It can happen through a fake customer service call, a phishing email, or even a text message that looks like it came from your financial institution.

Once they’re in, they move fast. They may change your password, transfer funds, or open new accounts in your name before you even realize what happened.

Signs your account may have been compromised:

• You’re suddenly locked out of online banking
• You receive alerts for transactions you didn’t make
• Your password or contact information was changed without your knowledge

What to do: Contact your financial institution immediately using the phone number on the back of your debit card or on their official website, never the number provided in a suspicious message. Enable two-factor authentication on your account for an extra layer of protection.

⚠️ Important: Family First will never call, text, or email you to ask for your online banking password, PIN, or one-time passcode. If anyone requests that information, it is a scam.

Fraudulent Account and Loan Applications: Protecting Your Identity

Identity theft doesn’t always start with your existing accounts. Fraudsters increasingly use stolen personal information — Social Security numbers, addresses, dates of birth — to open brand new accounts or apply for loans in someone else’s name. This type of fraud has grown significantly as more financial services have moved online.

You may not discover it for weeks or months, which is why regular credit monitoring is one of the most powerful tools available to you.

💡 Did you know? If you’re a Family First member, you have access to a free credit monitoring tool directly within your online banking. It allows you to review your credit history, spot unfamiliar accounts or inquiries, and catch potential identity theft early  before it turns into a bigger problem. Checking your credit regularly doesn’t hurt your score, and it takes just a few minutes to review. Log into your online banking and look for the Credit Monitoring option to get started.

5 Things Every Family Should Do Right Now

You don’t need to be a cybersecurity expert to stay protected. A few smart habits go a long way:

1. Pause before you act. Scammers rely on urgency. If someone is pressuring you to act immediately, that’s a red flag. Take a breath, hang up, and verify through official channels.

2. Never share your login credentials — with anyone. No legitimate company, bank, or government agency will ever ask for your password or one-time passcode over the phone.

3. Set up account alerts. Real-time notifications for transactions and account changes can help you catch unauthorized activity the moment it happens.

4. Talk to your family about these scams. Older adults are disproportionately targeted by tech support fraud. Having an open conversation with parents or grandparents about what these scams look like can make a real difference.

5. Check your credit regularly. Log into your Family First online banking and use the Credit Score tool to keep an eye on your credit report. Early detection is the best defense against identity theft.

When in Doubt, Reach Out

If something feels off — a call that seems suspicious, a transaction you don’t recognize, or a message asking you to verify your account – trust your instincts and contact us directly. We’re always here to help you sort it out. Login to check your Credit Score.