How to Spot and Prevent Common Scams

At Security Bank USA, we prioritize your financial safety. Scams and fraud happen every day! You may think it will never happen to you, but scammers are constantly developing new tactics to deceive unsuspecting individuals. By staying informed, you can protect yourself and your hard-earned money. Below are some of the most common scams, how to recognize them, and how to protect yourself.

1. Lottery and Sweepstakes Scams

Scammers claim you've won a lottery or sweepstakes you never entered. They may ask for payment upfront to cover "taxes" or "fees." If you didn’t enter, you didn’t win—legitimate lotteries don’t ask for payments to claim prizes.

2. Grandparent Scams

Fraudsters impersonate a grandchild in distress, claiming they need urgent financial help due to an accident, arrest, or emergency. Fraudsters also can impersonate an authority figure like a police officer or collector. Fraudsters may call or text, email, or come to your home. Always verify with other family members before giving any money.

3. Gift Card Scams

Scammers pose as IRS agents, law enforcement, or company representatives, demanding payment via gift cards. No legitimate entity will ever ask for payments this way. If someone requests gift cards as payment, it's a scam.

4. Personal Information Scams

These scams trick you into providing sensitive details like Social Security numbers, bank account information, or login credentials. Fraudsters may pose as bank representatives, government officials, or tech support agents. Always verify requests by contacting the company directly using official contact details. At Security Bank, we will NEVER call and ask you for any of this information.

5. Urgent or Immediate Action Scams

Scammers create a sense of urgency, threatening arrest, account closure, or financial loss if you don’t act immediately. They may send emails, texts, or robocalls demanding instant action. Legitimate organizations do not pressure customers with threats.

6. Romance Scams

Fraudsters build online relationships to gain trust and then fabricate emergencies, asking for money. Sometimes they’ll claim they want to send you money to “hold” while they’re out of the country. Be cautious of online romances that move too quickly. Never give financial assistance or any information about your accounts to someone you haven’t met in person.

7. Phishing Emails and Texts

Phishing scams involve emails or messages pretending to be from a trusted company, urging you to click on a link or download an attachment. These links often lead to fake websites designed to steal your login credentials. Also, these messages may contain malware embedded in the links/attachments that can give hackers remote access to your device.  Always check the sender's email address and avoid clicking on suspicious links.

8. Fake Debt Collection Scams

Scammers pose as debt collectors, demanding immediate payment for debts you don’t owe. They may use aggressive language and threats. Verify debts with the original creditor before making any payments.

9. Online Marketplace and Overpayment Scams

Fraudsters trick sellers by "overpaying" with a fake check and asking for a refund of the excess amount. By the time the check bounces, the victim has already sent real money to the scammer. Always verify funds before issuing refunds.

10. Investment and Ponzi Schemes

Too-good-to-be-true investment opportunities promise high returns with little risk. These scams often collapse when new investments stop coming in. Always research investment opportunities and consult a financial advisor.

11. Microsoft Virus Scam

An alert will pop up directing you to call a phone number due to an error or malware on your device. Users are typically directed to a deceptive website or prompted to call a phone number. Do not click on any links and do not call the number listed in the error message.

12. Employment Scam

This scam typically produces a realistic job listing, complete with fake company names and addresses. The scammers then reach out to victims online, usually via job listing sites. During the interview the scammers ask for and then steal vital personal information from the job seekers. Always do your own research to verify that a company exists and is hiring. Do not give out any financial information!  

How to Protect Yourself:

• Monitor your online banking account daily. By checking your online banking frequently, you can see your transactions as they happen. Our online banking also has alerts that can be sent to your phone when a purchase is over a set amount, or your balance is below a certain amount.
• Don’t share banking or card information with others.
• Never send money or share personal information with unverified individuals.
• Verify all urgent financial requests by contacting family members or companies directly.
• Beware of unsolicited emails, texts, or phone calls requesting personal details.
• Do not share personal information online, such as address, birthday, or travel dates.
• Use your cards carefully! Only purchase from known and trusted retailers and websites.
• Verify before you click on any links or attachments.  
• Use unique and strong passwords and enable multi-factor authentication when possible.
• Look into an identity theft protection plan such as our product ID TheftSmart.
• Trust your gut. If it seems too good to be true – it probably is!

If you have Fallen Victim to a Scam or ID Theft:

• Call your bank immediately. Security Bank’s phone number is 218-751-1510.
• Have your computer, phone, or device professional cleaned and install strong antivirus.
• Change passwords, usernames, and security questions on all your online logins.
• Contact the credit bureaus to freeze your credit.

                 Equifax: 1(800)349-9960

                 Experian: 1(888)397-3742

                  TransUnion: 1(888)909-8872

• Report on the issue to the Police and the Federal Trade Commission at IdenityTheft.gov.
• Look into an identity theft protection plan such as our product ID TheftSmart.

At Security Bank USA, we are committed to keeping your finances secure. If you suspect fraudulent activity on your account, contact us immediately. If you have questions? Call us!! We are here for you. Stay alert and stay safe!