Fraud continues to evolve quickly, and at Border Bank we’re seeing a sharp rise in three major scams affecting both consumers and businesses: check fraud, cryptocurrency investment scams, and impersonation scams. Each can lead to significant financial loss, but awareness remains the strongest first line of defense.

Here’s what you need to know:

1. Check Fraud: Still a Serious Threat

Check fraud is continuing to affect bank customers nationwide. Wrongdoers are getting their hands on checks in a variety of ways.  They are on the hunt for colorful envelopes that are larger than normal and envelopes with clear plastic windows on the front. They know that those envelopes contain cash, gift cards or checks. All of which can be instant profit for a fraudster. 

• Protect yourself:
• Monitor accounts regularly.
• Consider electronic payments.
• Direct pay online through the vendor’s website.
• Report suspicious activity immediately.

2. Cryptocurrency Investment Scams: High Pressure, High Risk

Crypto scams often begin with unsolicited messages, online ads, social media posts or anywhere there is a “chat” option. The content is always promising guaranteed unrealistic returns. The scam usually starts with a small dollar amount being sent to what looks like a reputable site or app but those are manufactured to look legitimate. After several transactions back and forth as well as constant communication through text or email you may even get a small return showing how great the investment was. From there it quickly jumps to larger numbers involving wiring the money or taking out cash and depositing into a crypto currency ATM. 

Red flags:

• Promises of high or guaranteed returns
• Pressure to act quickly
• Requests to download remote access software
• Instructions to move money into a “safe” crypto account

Protect yourself:

• Talks to local bank wealth advisors for investment opportunities.
• Never allow remote access to your devices.
• Talk to your bank before moving large sums.
• Don’t ever deposit cash into a cryptocurrency ATM at the direction of someone else.

Early intervention can prevent major losses — call us if something feels off.

3. Impersonation Scams: The Fastest Growing Trend

Impersonation scams are becoming more convincing. Fraudsters pretend to be government agencies, delivery companies, computer security software companies or even Border Bank. They often claim your account is locked, a payment is overdue, your identity is at risk, or fraudulent and/or illicit transactions are trying to post to your account. 

Warning signs:

• Unexpected calls or messages requesting personal information
• Requests for verification codes or passwords
• Caller ID that appears legitimate (scammers can spoof numbers)
• A sense of urgency or fear
• They advise you or warn you not to tell the bank

Protect yourself:

• Hang up and call the organization directly.
• Never share verification codes.
• Remember: Border Bank will never ask for your online banking password.

Earling intervention can prevent major losses – call us if something feels off. 

Our Commitment to Your Security
We will do whatever we can to help protect your identity and your money.  But the most important step is awareness. It is imperative you understand how these scams work to help protect you, your family, and your business.

If You Suspect Fraud, Contact Us Immediately
No question is too small. We’re here to help — and early reporting makes all the difference.

Check out these pdfs for other helpful tips and information: Get Smart About Scams and Imposter Scams.