Current Banking Scams You Need to Know

A man looking sad after a scam.

In today’s digital world, scammers are constantly finding new ways to trick people into handing over their personal and financial information. Staying informed is the first step to protecting yourself. Here are some of the most common banking scams and how you can prevent becoming a victim.

Phishing Emails & Texts Scams

What to Look For:

  • Emails or texts claiming to be from your bank asking for personal information.
  • Messages with urgent warnings about suspicious activity on your account.
  • Links that direct you to fake websites designed to steal login credentials.

How to Prevent It:

  • Never click on links or download attachments from unexpected emails or texts.
  • Verify any requests by calling your bank directly using a trusted phone number.
  • Look for red flags such as poor grammar, generic greetings, or unfamiliar sender addresses.
  • Enable two-factor authentication (2FA) for an extra layer of security.

Account Takeover Scams

What to Look For:

  • Unauthorized transactions on your bank account.
  • Emails or notifications about password changes you didn’t make.
  • Unexpected account lockouts or security alerts.

Also read: Set Up Debit Card Transaction Alerts

How to Prevent It:

  • Use strong, unique passwords for your bank accounts.
  • Regularly monitor your accounts for any suspicious activity.
  • Set up account alerts for transactions and changes to your login credentials.
  • Avoid using public Wi-Fi when accessing online banking.

Also read: Sign up for Mobile & Online Banking

Zelle & P2P Scams

What to Look For:

  • Scammers posing as a bank representative asking you to send money to "verify" your account.
  • Fake buyers or sellers on online marketplaces requesting Zelle payments.
  • Messages urging you to send money to yourself or a "safe account."

How to Prevent It:

  • Only send money through Zelle to trusted friends and family.
  • Remember that your bank will never ask you to transfer funds to "protect" your account.
  • If you receive a suspicious request, verify it by contacting your bank directly.

Also read:  Need to send money? Use Paducah Bank WOWPAY

Fake Check Scams

What to Look For:

  • Receiving an unexpected check and being asked to send money back.
  • Being overpaid for an online sale and asked to refund the difference.
  • Checks that take longer than usual to clear, later being flagged as fraudulent.

How to Prevent It:

  • Never accept or deposit a check from someone you don’t know.
  • Wait for a check to fully clear before using the funds.
  • If a check seems suspicious, contact your bank to verify its authenticity.

Also read: How To Spot, Avoid, and Report Fake Check Scams

Tech Support Scams

What to Look For:

  • Pop-ups or phone calls claiming your computer has a virus.
  • Scammers pretending to be from Microsoft, Apple, or your bank’s tech support.
  • Requests to install remote access software or provide banking information.

How to Prevent It:

  • Never provide remote access to your computer unless you initiated the request with a trusted service.
  • Hang up if someone calls claiming to be tech support and asks for payment.
  • Keep your antivirus software updated and perform regular security scans.

Investment Scams

What to Look For:

  • Promises of guaranteed high returns with little or no risk.
  • Pressure to invest quickly before an "exclusive" opportunity disappears.
  • Unregistered investment firms or advisors.

How to Prevent It:

  • Research any investment opportunity before committing money.
  • Verify investment firms and advisors with official financial regulatory bodies.
  • If something sounds too good to be true, it probably is.
 

Stay Vigilant and Protect Your Finances


Fraudsters are always evolving their tactics, so it’s important to stay alert and educate yourself on the latest scams. If you ever have doubts about a transaction, email, or call us at 575.5700. Your financial security is in your hands—stay informed and stay protected.