Executive Letter: Fraudsters’ Impersonation of Wisconsin Banks on the Rise – Resources to Protect Your Community
By Rose Oswald Poels
I continue to hear from members across the state about attempts by bad actors to defraud customers through calls impersonating the bank. Many instances include “phone number spoofing” which makes the call appear to come from the bank itself. I encourage members to continue warning customers about fraudulent activity — reminding them to hang up if a call seems suspicious and to contact their bank directly using a verified number if they receive these calls.
Members should consider issuing a warning about bank impersonation — whether a website notice, a printed handout provided during branch transactions, or a message included in periodic statements. For banks with call centers and other voice messaging, information on fraud can be included as part of the recorded phone greeting. Members and their customers can also file a complaint about spoofing with the FCC.
The following resources are available to you and your team to create messaging to remind customers of various ways to protect themselves from scams:
• WBA-created consumer content which can be included in newsletters, take aways, or as electronic delivery regarding how customers can best protect against various scams.
• ABA’s BanksNeverAskThat Campaign which includes tips of how to avoid phishing in emails, calls, and text messages, videos of how to stop scam attempts, a game, a quiz, and downloadable resources.
ABA also has social media posts for banks to use. Registration is free for all banks regardless of ABA membership status. Once registered, the bank will receive a link to access the social medial campaign materials.
• ICBA’s Check Fraud Resources include guides for banks needing to respond to instances of check fraud claims and an information piece for customers to help them protect against check fraud.
I encourage members to remain proactive with communications that warn customers about bank spoofing. It is imperative that Wisconsin banks continue efforts to educate customers — especially our seniors and young adults — on how to spot scams, prevent check fraud, and to remember the types of questions banks will never ask. I will continue to share statistics and information with supervisory and enforcement agencies as we look for ways to combat against fraudulent activity and protect Wisconsinites from exploitation.
