Protect Yourself from Bank Impersonation Scams
As the holiday season approaches, it’s important to stay alert to a sharp rise in fraud schemes, especially bank impersonation scams. These scams have become the most reported form of identity‑related crime in 2025, with reports increasing by 148% over the past year. According to the Identity Theft Resource Center (ITRC), more than one in five impersonation scams now involve criminals posing as financial institutions.What Bank Impersonation Scams Look Like
Bank impersonation scams happen when fraudsters contact you by phone, email, or text pretending to be from a legitimate bank. Their messages often look convincing, using spoofed phone numbers, realistic emails, or fake websites designed to steal your personal information.Scammers may ask you to “verify” details like account numbers, passwords, or Social Security numbers. Once they have this information, they can take over your existing accounts or open new fraudulent ones in your name. Recent data shows that more than half of identity misuse cases involve account takeovers, with credit cards and checking accounts being the top targets.
Why Scams Increase During the Holidays
The holiday season creates the perfect environment for fraud. With more online shopping, travel plans, and charitable giving, scammers take advantage of the increased activity. Common schemes include phishing emails, fake charity solicitations, and fraudulent package delivery alerts.Technology is also making scams harder to detect. Criminals are now using artificial intelligence to create realistic customer service impersonations, clone voices, and build convincing fake websites that appear trustworthy.
How You Can Protect Yourself
A few simple habits can help keep your information and accounts safe:
- Verify communications: If you receive a call, text, or email claiming to be from your bank, don’t reply directly. Contact your bank using a verified phone number or official website.
- Enable multi‑factor authentication: Adding a second form of verification makes it significantly harder for scammers to access your accounts.
- Monitor your accounts regularly: Review transactions and report anything suspicious right away.
- Use payment apps carefully: Only send money to people you know and trust.