Text Message Phishing (Smishing)
Several recent incidents involved fraudulent text messages that appeared to come from trusted sources. In some cases, individuals clicked on links and entered their online banking credentials, leading to unauthorized account access and financial loss. Even when no loss occurs, these attempts are becoming more frequent.
What to know:
Legitimate organizations will not ask for sensitive information through text messages. Avoid clicking links in unexpected texts and contact your financial provider directly using a trusted phone number if you’re unsure.
Email and Pop-Up Malware Attacks
There has been an increase in email links and computer pop-up messages that, once clicked, download malicious software. These “computer takeover” attacks allow fraudsters to gain control of devices and access financial software, online banking, or payment systems.
What to know:
Never click on pop-ups claiming your computer is infected or needs immediate action. Keep your operating system and antivirus software up to date.
Fraudulent Wire Transfer Requests
Reports show a rise in wire fraud schemes targeting both individuals and businesses. Common scenarios include requests to send funds to “recover” benefits or invest in opportunities such as precious metals. These stories often create urgency or promise guaranteed returns.
What to know:
Be cautious of unsolicited requests involving wires or large transfers. Once a wire is sent, funds are often unrecoverable.
Business Account Takeovers & ACH Fraud
Some businesses have been targeted after employees unknowingly shared online banking credentials. Fraudsters then initiated unauthorized ACH transactions or bill payments. These attacks may originate via email, phone, or text.
What to know:
Businesses should use multi-factor authentication, limit user access, and verify payment changes through a second method.
Check Fraud & Mail Theft
Check fraud remains prevalent, particularly involving payments mailed to certain out-of-state P.O. boxes. In many cases, checks are intercepted, altered, and re-deposited fraudulently.
What to know:
Whenever possible, consider secure electronic payment options and monitor accounts regularly for unauthorized activity.
ATM “Jackpotting” Attempts
Law enforcement has reported numerous attempts statewide to compromise ATMs using specialized techniques to force them to dispense cash.
What to know:
While these attacks don’t typically impact individual account balances, they highlight the ongoing sophistication of financial crime.
Stay Vigilant
Fraudsters rely on urgency, fear, and trust. Taking a moment to pause, verify, and ask questions can prevent significant loss.
If you ever receive a request or notice activity that doesn’t feel right, contact your financial provider directly. We’re here to help investigate and keep your finances secure.
Quick Safety Checklist
- Protect Yourself from Common Fraud Tactics
- Don’t click links in unexpected texts, emails, or pop-ups
- Never share online banking credentials, verification codes, or passwords
- Verify payment requests (especially wires or ACH changes) using a trusted phone number
- Pause on urgent requests — pressure is a common fraud tactic
- Keep devices updated with current security and antivirus software
- Monitor accounts regularly and report suspicious activity immediately
If something doesn’t feel right, it probably isn’t. If you have any questions or concerns about your Premier accounts, or if you are unsure if you’ve become a victim of fraud, reach out to us at 563-588-1000.
