How to Spot—and Potentially Stop—Financial Scams Before They Happen
September 11, 2025
Scammers are getting bolder and more sophisticated, using texts, emails, and phone calls that look convincing enough to fool even the savviest person. One of the most common schemes today starts with a message that seems to come from your bank, credit union, or investment firm.
It might say something like:
● “Do you recognize this transaction?”
● “Please confirm this payment.”
At first glance, these messages look legitimate, often branded with logos or styled like official alerts. But their goal is the same: to get you to click, reply, or hand over sensitive information such as passwords, passcodes, or account numbers. Once you respond, the scammer may impersonate a trusted representative and pressure you into sharing more details.
The good news is that there are reliable ways to recognize these red flags and protect yourself.
Signs a Message Might Be a Scam
If you get an unexpected text, email, or phone call that claims to be from a financial institution, pause and look closely. Warning signs include:
● Urgent language designed to scare you into action.
● Unfamiliar or misspelled web links.
● A phone number or sender ID that doesn’t match the company’s official contact information.
● Group texts that appear to come from a business but include suspicious links.
Remember: caller ID can be spoofed, and professional-looking messages can be faked with ease.
How to Respond Safely
If you receive a suspicious communication:
● Do not click on links, reply, or provide personal information.
● Never share or “read back” a security code unless you initiated the call through an official company number.
● Hang up and call your institution directly using the number listed on its website.
● Ignore group texts or unsolicited messages from unknown senders.
When in doubt, verify independently—never trust the information provided in the message itself.
Four Smart Ways to Strengthen Your Defenses
1. Stay alert for phishing attempts
Phishing scams often come through email, text, or phone calls, asking you to click links, download attachments, or confirm details like your Social Security number or date of birth. If something feels urgent, suspicious, or “too good to be true,” step back before reacting.
2. Strengthen your account security
● Use long, unique passwords or passphrases for each account.
● Set up online account access and enable multi-factor authentication wherever possible.
● Sign up for activity alerts and review your accounts regularly.
3. Protect your phone and email
Hackers can hijack your mobile service or email to intercept passcodes and personal information. Warning signs include suddenly losing service or receiving notices about account changes you didn’t request. To protect yourself, use strong passwords, add account PINs, and enable security alerts with your providers.
4. Secure your devices
● Install system updates and patches promptly.
● Run antivirus software and firewalls.
● Change default device passwords.
● Avoid public Wi-Fi unless you’re using a trusted VPN.
Extra Layers of Protection
Beyond day-to-day vigilance, consider:
● Monitoring your credit reports regularly.
● Freezing your credit to block fraudsters from opening accounts in your name.
● Reporting scams or suspicious activity promptly through the FTC or the FBI’s Internet Crime Complaint Center.
Final Thoughts
Fraudsters are creative, but most rely on the same tactics: urgency, fear, or promises that seem too good to pass up. By pausing, verifying, and securing your accounts, you can stay one step ahead and protect both your money and your peace of mind.
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Disclosure:
This information is an overview and should not be considered as specific guidance or recommendations for any individual or business.
This material is provided as a courtesy and for educational purposes only.
These are the views of the author, not the named Representative or Advisory Services Network, LLC, and should not be construed as investment advice. Neither the named Representative nor Advisory Services Network, LLC gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please consult your Financial Advisor for further information.