Phishing & Online Scams

Every day, thousands of people fall victim to phishing and online scams. Learn how to protect yourself.
id theft and security

Every day, thousands of people fall victim to fraudulent emails, texts and phone calls from scammers pretending to be their bank. With the expanded use of online and mobile banking, the problem is only growing worse. In fact, the Federal Trade Commission’s report on fraud estimates that American consumers lost a staggering $10 billion to phishing scams and other fraud in 2023 - an increase of 13.6% over 2022.

It’s time to put scammers in their place.

Online scams aren’t so scary when you know what to look for. At West Gate Bank®, we’re committed to helping you spot them as an extra layer of protection for your account. We’ve joined with the American Bankers Association and banks across the country in a nationwide effort to fight phishing-one scam at a time.

We want every bank customer to become a pro at spotting a phishing scam - and stop bank impostors in their tracks. It starts with these four words: Banks Never Ask That. Because when you know something sounds suspicious, you’ll be less likely to be fooled.

These four phishing scams are full of red flags:

  • Text Message: If you receive a text message from someone claiming to be your bank asking you to sign in, or offer up your personal information, it’s a scam. Banks Never Ask That.
  • Email: Watch out for emails that ask you to click a suspicious link or provide personal information. The sender may claim to be someone from your bank, but it’s a scam. Banks Never Ask That.
  • Phone Call: Would your bank ever call you to verify your account number? No! Banks Never Ask That. If you’re ever in doubt that the caller is legitimate, just hang up and call the bank directly at a number you trust.
  • Payment Apps: Beware of text messages from someone claiming to be your bank saying your account has been hacked. The scammer may ask you to send money to a new account they’ve created for you, but that’s a scam! Banks Never Ask That.

You’ve probably seen some of these scams before, but that doesn’t stop a scammer from trying.

*Information provided by the American Bankers Association campaign, “Banks Never Ask That”.

 

Is This Text Real… or a Trap?

What do you do when you receive a text and you question the source?

If you and your children have a mobile phone, you’ve probably received texts from friends and family. If you’ve opted to receive texts from retailers, you get these too. But what do you do when you receive a text, and you question the source?

The answer matters because your response to a questionable text might keep you safe from a scammer - or lead you into a trap.

 

Text Message Scams on the Rise

New data from the Federal Trade Commission (FTC) shows that in 2024, “consumers reported losing $470 million to scams that started with text messages. This amount is five times higher than what was reported in 2020, even though the number of reports declined.”


How Text Scams Work

Below is a simplistic example of how a spoofed message can be sent to you.

Step One: Threat actors obtain your phone number on the Dark Web or generate your number with an auto-dialer tool.

Step Two: The scammer creates a message. Many scam texts sound urgent to get victims to react without thinking - “invoice overdue” or “your account has been breached” are common ruses.

Step Three: The scammer sends the text and hopes you bite.


Prevention Tips

  • Don’t reply to unexpected text messages. The text may push you to react quickly, but it’s best to stop and think it through.
  • Never click links in unexpected messages. You might download malicious software (malware) that will compromise your device, and scammers often create real-looking websites to draw you deeper into the trap.
  • Don’t assume a text from a known company or organization is legit. Double-check by contacting the company. Don’t use information from the text - get a phone number or email address from the company’s website.
 

Filtering Unwanted Texts

There are many ways to filter unwanted text messages or stop them before they reach you.

  • On your phone: Your phone may have an option to filter and block spam or messages from unknown senders. Here’s how to filter and block messages on an iPhone and how to block a phone number on an Android phone.
  • Through your wireless provider: Your wireless provider might have a tool or service that lets you block calls and text messages. Check out ctia.org, a website from the wireless industry, to learn about options from different providers.
  • With a call-blocking app: Go to ctia.org for a list of call-blocking apps for Android, BlackBerry, Apple, and Windows phones, or search for an app online. Check out the features, user ratings, and expert reviews.

 

Take Action - Report Texts

  • Forward spam messages to 7726 (SPAM). This helps your wireless provider spot and block similar messages.
  • Report potential scams on either the Apple iMessages app or Google Messages app for Android users.
  • Report potential scams to the FTC at ReportFraud.ftc.gov.

If you’ve lost money to a scam, reach out to the company that transferred the money right away to see if there’s a way to get your money back. Then report the scammer at ReportFraud.ftc.gov.


If You're a Victim

Immediately change any passwords you might have revealed. Consider reporting the attack to IC3.gov and the police, and file a report with the Federal Trade Commission.

 

Getting Help

If you identify suspicious activity involving your financial institution, contact them immediately.


*Information provided by the Financial Services Information Sharing and Analysis Center (FS-ISAC).