Fraud Education

Fraud and scams pose a significant threat to people and businesses every day. Scammers constantly update their tactics, but most share urgent warning signs. Quickly recognizing how these scams work is critical to protecting yourself.

Common Warning Signs

Pressure to act immediately or keep a situation secret
Requests for passwords, PINs, one-time passcodes, or account numbers
Unexpected messages claiming to be from a bank, government agency, or well-known business
Payment requests using gift cards, wire transfers, or cryptocurrency
Messages with spelling errors, unusual links, or unfamiliar sender addresses

If anything about a message, call, or request seems even slightly unusual, immediately pause. Hasty responses can have serious consequences.

If You Are Targeted

Do not click links or download attachments from unexpected messages.
Do not respond to unsolicited phone calls. Hang up and call your local branch.
Do not share personal or financial information.
Report the incident to the Federal Trade Commission (FTC) if appropriate.

The Federal Trade Commission offers additional fraud education and reporting resources:

ADVICE & ALERTS

SCAM REPORTING

Do Not Call Registry

IDENTITY THEFT RECOVERY

Bank First customers: contact us right away using a trusted phone number if you have provided account details, passwords, or sent funds due to a scam. Time is critical to limit damage.

COMMON FRAUD & SCAMS

The examples below highlight common scams we continue to see. While details may change, these scenarios reflect tactics customers most often report.

Fraud & Scams Impacting Individuals

Bank, Retailer, or Government Impersonation

Scammers pose as a bank, retailer, tech company, or government agency, claiming suspicious activity, refunds, or legal issues to pressure quick action.

Stay safe: Pause before responding and contact the organization directly using a trusted phone number or website.

Package, Invoice, or Subscription Scams

Texts or emails claim a delivery problem, unpaid toll, invoice, or subscription renewal you did not initiate. Links lead to fake payment or login pages.

Stay safe: Do not click links. Verify directly through the company’s official website or app.

Account Takeover and Login Code Scams

Unexpected login alerts, device codes, QR codes, or cloud storage warnings attempt to trick you into sharing access or credentials.

Stay safe: Only enter codes or credentials if you initiated the request.

Payment App, Wire, and Cash Transfer Scams

You are instructed to urgently move money to “protect” your account or help someone in trouble. Once sent, funds are usually unrecoverable.

Stay safe: Never send money or gift cards based on pressure or secrecy.

Fake Check, Overpayment, and Money Mule Scams

You are asked to deposit a check and send funds elsewhere, or move money through your account for someone else. The check later proves fraudulent.

Stay safe: Do not deposit or transfer funds for others or accept overpayments.

Romance and Investment Scams

Someone builds trust online, then requests money for emergencies, investments, or opportunities promising high returns.

Stay safe: Be cautious of financial requests from online relationships or guaranteed returns.

Fraud & Scams Impacting Businesses

Bank or Treasury Management Impersonation

Fraudsters pose as bank representatives to obtain login credentials or sensitive account information.

Stay safe: Verify all requests through known Bank First contacts.

CEO or Employee Impersonation

Emails or messages appear to come from leadership, requesting urgent payments or confidential information.

Stay safe: Confirm unusual requests using established internal procedures.

Check Fraud and Altered Checks

Criminals steal, alter, or counterfeit checks to withdraw unauthorized funds.

Stay safe: Monitor accounts closely and use available check protection tools such as Positive Pay.

Mailbox Theft and Check Washing

Unsecured mail is stolen or altered to redirect payments.

Stay safe: Secure mail delivery and review outgoing and incoming checks promptly.

Business Identity Theft

Business information is used to apply for credit or impersonate owners or employees.

Stay safe: Limit access to sensitive information and review credit activity regularly.

Money Mule and Payroll Fraud

Funds are diverted through payroll changes or employees are asked to move money on behalf of others.

Stay safe: Verify payroll and payment changes and educate staff on warning signs.