How to Spot and Avoid Digital Financial Scams

Online fraud is more sophisticated—and more common—than ever before. Whether it’s a suspicious email, a fake website or an urgent phone call, scammers are constantly finding new ways to trick people into giving away sensitive information or money. Here’s some help so you can stay a step ahead.

Common Types of Digital Scams

1. Fake E-Commerce Sites
   Scammers create fake online shops that look legitimate, only to vanish once your payment is processed and the product never arrives.
2. Phishing Emails or Texts
   These mimic real companies like your bank or Amazon. They often ask you to click a link and enter your login or financial details.
   Pro tip: Your bank will never ask for sensitive information via email or text.
3. Tech Support Scams
   You might receive a phone call or pop-up warning that your device has a virus. The scammer will ask for remote access to "fix it."
4. Too-Good-To-Be-True Investments
   Be wary of high-return “guaranteed” investments, suspicious crypto schemes or loans that require upfront payment.
5. Suspicious Messages from Friends
   If you get a weird message from someone you know, their account may have been compromised. Contact them directly to confirm.

How to Recognize a Scam

1. Unsolicited Contact
   If someone contacts you out of the blue and asks for information or payment, it’s likely a scam.
2. Urgent Language
   Phrases like “immediate action required” or “account suspended” are meant to scare you into acting without thinking.
3. Grammatical Errors
   Typos, strange phrases or poorly formatted emails are red flags.
4. Offers That Seem Too Good to Be True
   They usually are, so approach these with added caution.
5. Suspicious Links or Attachments
   Never click links or download files from unknown or untrusted sources.

How to Protect Yourself

Use Strong Passwords & 2FA: Enable two-factor authentication on all accounts when possible.

Install Antivirus Software: Keep it up-to-date to protect against malware and ransomware.

Verify Sources: Don’t trust links—search for the official website directly in your browser.

Hang Up and Call Back: If someone claims to be from your bank or the IRS, hang up and call the official number.

Monitor Accounts and Credit: Regularly check your bank accounts and get free credit reports from AnnualCreditReport.com.

Avoid Public Wi-Fi for Banking: Use secure networks when accessing financial accounts.

Stay Updated: Install software and operating system updates to patch known vulnerabilities.

Check Bank Statements Often: Look for any unauthorized or suspicious activity for all of your bank accounts.

What To Do If You’ve Been Scammed

1. Contact your bank immediately to freeze or monitor your accounts.
   1. You can call OMB Bank’s customer service line toll-free at (888) 662-2443
2. Report the fraud to your local law enforcement agency.
3. Notify the Federal Trade Commission (FTC):
   1. Phone: 1-877-FTC-HELP
   2. Online: ReportFraud.FTC.gov

Stay Safe, Stay Smart

The best defense against fraud is skepticism. Never give out personal or financial information without verifying who you’re speaking to on the phone or even via text. When in doubt, don’t respond—just reach out to your trusted financial institution.

OMB also proudly offers an entire page dedicated to fraud prevention and cybersecurity. Check it out here.

OMB and its affiliates do not provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decision.