Tips to Protect Your Accounts and Information
Fraud continues to evolve, and both individuals and businesses are increasingly targeted through digital channels such as email, text messages, and phone calls. While financial institutions use advanced tools to detect suspicious activity, clients still play a critical role in protecting accounts and sensitive information. If you believe your information may have been compromised:
- Contact us immediately using a verified phone number
- Change passwords on affected accounts
- Monitor your accounts for suspicious activity
- Report the incident to appropriate authorities if necessary
At American Community Bank & Trust, we believe education is one of the most effective forms of protection. Understanding how common scams work—and what to watch for—can help reduce risk and prevent financial loss.
Common Types of Financial Scams
Modern scams are designed to look legitimate and often create a sense of urgency. Messages may appear to come from trusted organizations such as banks, delivery services, or government agencies, and often pressure you to act quickly or share information. For both personal and commercial clients, consistent habits—such as verifying requests, monitoring accounts, and using secure login practices—can significantly reduce exposure to fraud.
Phishing (Email Scams)
What it is:
Phishing is a form of social engineering where criminals send emails pretending to be a trusted organization to trick you into revealing sensitive information such as usernames, passwords, or account details.
These messages often include urgent language like:
- “Suspicious activity detected”
- “Verify your account immediately”
Prevention Tips:
- Avoid clicking links or downloading attachments from unexpected emails
- Verify requests by contacting the organization directly using a known phone number
- Check the sender’s email address carefully for inconsistencies
- Enable multi-factor authentication (MFA) on important accounts
Smishing (Text Message Scams)
What it is:
Smishing is phishing conducted through text messages. Fraudsters send messages that appear to come from trusted entities—such as banks or delivery companies—to prompt you to click a link or share information.
Common examples:
- Package delivery issues
- Unpaid toll notices
- Bank fraud alerts
Prevention Tips:
- Do not click links in unsolicited text messages
- Avoid responding or providing personal information
- Access accounts by typing the official website into your browser
- Report suspicious messages and contact your bank if unsure
Vishing (Phone Call Scams)
What it is:
Vishing involves fraudulent phone calls where scammers pose as banks, government agencies, or service providers. Caller ID may appear legitimate due to spoofing.
What scammers may say:
- “This is your bank’s fraud department”
- “Your account is compromised—act now”
Prevention Tips:
- Do not provide passwords, PINs, or one-time codes over the phone
- Hang up and call your bank using an official phone number
- Be cautious of urgent or threatening language
Imposter Scams
What it is:
In imposter scams, criminals pretend to be a trusted organization or individual (such as your bank, the IRS, or a utility provider) to gain access to your money or personal information.
Prevention Tips:
- Never send money or share information based on an unsolicited request
- Verify the request independently using trusted contact information
- Be cautious of requests involving immediate payment
Business Email Compromise (BEC) & Payment Fraud
What it is:
Businesses are frequently targeted through email scams where fraudsters impersonate vendors or employees to request payments or change account information.
Common scenario:
A vendor requests updated payment instructions, directing funds to a fraudulent account.
Prevention Tips (Business Clients):
- Verify payment changes using a known phone number (not the email request)
- Use dual approval processes for wires and ACH payments
- Monitor account activity regularly
- Implement MFA and secure email practices
Account Takeover Attacks
What it is:
Account takeover occurs when criminals gain access to your online accounts—often using stolen passwords—and initiate unauthorized transactions.
Prevention Tips:
- Use strong, unique passwords for each account
- Enable multi-factor authentication
- Monitor accounts regularly for unusual activity
- Update passwords immediately if a breach is suspected
Check Fraud (Check Washing)
What it is:
Check washing occurs when criminals alter checks by removing ink and rewriting them to redirect funds.
Prevention Tips:
- Use secure payment methods when possible
- Avoid leaving outgoing mail in unsecured mailboxes
- Review account activity frequently
- Report unauthorized transactions immediately
Best Practices for Fraud Prevention
For Business Banking Clients
- Establish internal controls for payments and approvals
- Train employees to recognize fraud attempts
- Limit access to sensitive financial systems
- Review transactions and reconcile accounts daily
For Personal Banking Clients
- Monitor your accounts regularly through online or mobile banking
- Set up account alerts for unusual activity
- Avoid using public Wi-Fi for financial transactions
- Keep contact information up to date with your bank
Monitoring Your Credit Report
If you believe you have been a victim of financial fraud or identity theft, it is important to review your credit report with each of the three major credit bureaus each year to ensure the accuracy of the information being reported. You can access your full credit report at: https://www.annualcreditreport.com/index.action