How to Identify and Avoid Bank Impersonation Scams

Simple steps to safeguard your personal and business accounts.

Across the nation, banks are reporting an increase in impersonation scams. From large national institutions to small community banks, fraudsters are using publicly available information and general knowledge of banking practices to contact customers and attempt to gain access to sensitive information—most commonly debit card details or online banking credentials.

Recently, several business customers have reported receiving phone calls from individuals claiming to be from the “PSBT Fraud Department,” attempting to verify pending transactions. Businesses are often targeted in these scams due to the expectation of higher account balances and ACH capabilities.

Red Flags: How to Recognize a Scammer (Not Peoples Security Bank & Trust)

Requests for sensitive login information

Fraudsters may ask for your username, password, PIN, or one-time passcode. Peoples Security Bank & Trust has secure methods to verify your identity, and we will never ask you to provide your online banking password, full debit card number, debit card PIN, or two-factor authentication codes.

This information is private and should never be shared. Additionally, we already have your account information on file and would not need to ask for it.

Claims about transactions you cannot see

Scammers often create a sense of urgency to cause panic and lower your guard. They may claim your account is at risk or that suspicious transactions—such as pending ACH activity—have been flagged, but are not visible to you.

In reality, even pending transactions are typically visible in your account history. While the bank may contact you regarding suspicious activity, we will do so through a trusted channel, such as your branch or loan officer—someone you recognize.

Requests to send money or “fix” a problem

Peoples Security Bank & Trust will never ask you to send money (even to yourself) to “reverse a transfer,” “receive a refund,” or “cancel” a transaction.

If you are instructed to send a payment to “test the system,” stop immediately.

Similarly, if someone asks for a one-time passcode—especially if you did not initiate a transaction—do not share it. Ignore unexpected codes and contact the bank right away.

How to Protect Yourself

1. Do not rely on caller ID. Fraudsters can “spoof” phone numbers to make it appear they are calling from your bank.
2. Never share personal information. If someone asks for sensitive details such as your username or password, hang up immediately and contact the bank directly.
3. Verify the caller. If you do not recognize the person contacting you, ask for their name and department, then hang up. Call your bank using a trusted number and confirm whether the individual is a legitimate employee.

If You Are Contacted by a Scammer

If you believe you have been contacted by a fraudster, please reach out to your branch or a trusted bank representative immediately.
Be prepared to provide:
•    The caller’s name
•    The reason for the call
•    The phone number they used
•    Any information you may have shared