Can you spot a scam?

Most people are confident that they can tell the difference between fact and fiction, but the truth is that it isn’t always easy to fend off fraud. Want to test your knowledge? Click through the scenario below and think about whether it’s a helpful notice from your bank or if it might be a scam. Read on to find out the answer!

Is this your bank… or is it fraud?

1) Your phone rings.

Caller ID shows the number as your local bank.

2) You pick up the phone.

The caller addresses you by name and seems to be familiar with your bank account number, address, and transaction history.

3) They warn you of possible fraud on your account.

The caller asks if you’re familiar with several recent transactions and reassures you that they’ll help you protect your account.

4) They ask you to confirm your identity.

Before the caller can help, they ask you to verify your identity by sharing the last 4 digits of your debit card or a one-time passcode.

So… what do you think?

Is the person on the phone a cunning fraudster or an honest banker?

How to fight fraud and find red flags

In the scenario above, the call is probably a scam. But the caller’s familiarity with your personal details may cause you to drop your guard long enough for them to retrieve your Secure Access Code (SAC) or a one-time code texted to your phone. They may use that code to change the password of your bank account, letting them in and locking you out, or to add your card to their digital wallet, which lets them use your card to make unauthorized purchases.

It’s important to know that First Bank will never ask you for information like a one-time passcode if we’re the ones reaching out to you. Here are some other common red flags to look out for…

Keep an eye out for these common tricks:

Unexpected calls or messages, even if they look official. If you get any kind of communication claiming to be from First Bank — or another trusted source — stop and think about whether it might be fraud before responding. Caller ID and emails are easily faked.
Pressure to act fast. Scammers often create a false sense of urgency to keep you from calmly thinking things through. They may claim that your account is at risk or that you owe money on a debt. Remember that legitimate businesses are unlikely to rush you.
Requests for sensitive information. While we may send you a one-time code to verify your identity after you call us, remember that a First Bank employee will never reach out to you and then ask for your one-time passcode, PIN, or password.

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Being told not to contact your bank. Fraudsters may say that your local branch is under investigation for misconduct or that your usual banker isn’t available. Don’t be afraid to hang up and call a trusted number to confirm whether there’s really a problem.
Unusual payment methods. If you’re ever asked to pay with a gift card, wire money to a specific account, or use a payment app, stop and call your local bank. Cryptocurrency and large cash withdrawals are also common. Scammers prefer payments like these because they’re hard to trace, and it’s often impossible to recover stolen funds.

Learn more about financial fraud

If you suspect a scam, here’s what to do.

Need to make a quick decision in the heat of the moment? Remember these important fraud protection tips:

✅ Always double-check the details

✅ Stop and think through the situation

✅ Keep your private information secure

✅ Talk to someone you trust — like your local bank

✅ Only make payments through familiar platforms

✅ Don’t be afraid to trust your intuition

And remember — fraudsters don’t only go after regular folks. They target business accountholders, too. Keep an eye out for invoices from unfamiliar vendors, urgent payment requests, unusual payroll changes, and spoofed emails. Some business accounts, like First Bank’s Business Elite, offer built-in treasury tools and fraud protection.

Own a small business?

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Have questions? Talk to our team.

Want to learn more about common fraud tactics? Think you or someone you know may have been targeted? We’re happy to help. You can always stop by your local First Bank branch or call our customer support team at +1 (866) 792-435.

You can also share examples of attempted fraud with your branch team or send them directly to fraud@localfirstbank.com so that our team can help protect others from becoming victims.