As our reliance on digital banking and financial platforms increases, the threat of falling victim to fraudulent emails, texts and phone calls is only growing worse. According to the Federal Trade Commission (FTC), consumers reported losing nearly $8.8 billion to fraud in 2022, an increase of more than 30 percent over the previous year.

Online scams aren’t such a threat when you know what to lookout for. Applied Bank is committed to helping you spot them - one scam at a time. We want every Bank customer to become a pro at identifying possible fraud—and stop bank impostors in their tracks.

Banks Never Ask That!

Think that call, text or email might be a trick? If it doesn’t sound legitimate, it’s probably not! By knowing what sounds suspicious, you’ll be less likely to be fooled.

Top Phishing scams:

  • Text Message: If you receive a text message from someone claiming to be your bank asking you to sign in, or offer up your personal information, it’s a scam. Banks never ask that!
  • Email: Watch out for emails that ask you to click a suspicious link or provide personal information. The sender may claim to be someone from your bank, but it’s a scam. Banks never ask that!
  • Phone Call: Would your bank ever call you to verify your account number. No! Banks never ask that! If you’re ever in doubt that the caller is legitimate, just hang up and call the bank directly at a number you trust.

Tips to Avoid Cyber Scams:

  • Be wary of suspicious links in emails and text messages. If you receive this type of message, don’t respond – just delete it and call your bank to confirm they didn’t send it.
  • Beware of scare tactics
    • Applied Bank will never pressure or threaten you to share your private information through unsolicited messages or phone calls.
  • Protect your confidential information (account number, SSN, password)
    • Applied Bank will never CALL YOU to verify confidential information. However, we might ask for information to verify your identity when you call our Customer Service (888) 839-7952
  • Call the number on your card
    • If you think something might be a scam - play it safe. Hang up and call the number on the back of your card.
  • Watch for misspelled words
    • It’s very common to find typos in a fraudulent text or email. If you find one in the message, you know it’s a scam! Be sure to delete it right away.

You’ve probably seen some of these scams before. But that doesn’t stop a scammer from trying. For more tips on how to keep phishing criminals at bay, including videos, an interactive quiz and more, visit the link below:

Contact your bank, financial institutions, creditors and others. Speak with the fraud department and explain that your identity or personal data may have been compromised. Request to close or freeze any accounts that may have been targeted and immediately change your online login credentials, passwords and PINs. Contact ChexSystems to place a security alert on the checking and savings accounts that have been impacted and report an identity theft incident to the Federal Trade Commission.

Secure your email and other communication accounts. Many people use the same password for multiple log-in’s such as email and cell phone accounts. Immediately change any account passwords and, if you haven’t already done so, implement multi-factor authentication — a setting that prevents cybercriminals from accessing your accounts even if they know your password.

Check your credit reports and place a fraud alert on them. Get a free copy of your credit report from Review your credit report to make sure unauthorized accounts have not been opened in your name and report any fraudulent accounts to the appropriate financial institutions. Place a fraud alert on your credit by contacting one of the three credit bureaus and that company will inform the other two.

File a report with your local law enforcement. Get a copy of the report to submit to your creditors and others that may require proof of the crime.

If you believe your personal information has been compromised or you think you are a victim of identity theft, we’re here to help! Contact our Customer Service department at (888) 839-7952.