Understanding Impersonation Scams

Understanding Impersonation Scams

Impersonation scams are a form of fraud in which criminals pose as representatives of legitimate organizations, often disguised as a financial institution to attempt to gain trust and extract sensitive information. Their goal is to conduct unauthorized transactions and ultimately steal funds.

Scammers use phishing tactics such as direct phone calls, text messages, and emails. They often claim to be from a bank’s fraud department, technical support, or customer service team. To appear credible, they may introduce themselves by name, reference real-looking account details, or spoof caller IDs to mimic official channels.

These scams rely on urgency and familiarity to pressure individuals into clicking malicious links, sharing login credentials, or approving fraudulent transfers.

Best Practices to Stay Protected from Impersonation Scams

1. Know What Vantage Bank Will Never Do

• Never send unsolicited links asking you to verify transactions

• Never ask for your full password credentials

• Never pressure you to act immediately or threaten account closure

2. Verify Before You Act

• If you receive a suspicious call, do not offer to provide any information, hang up and call Vantage Bank instead

• If you receive a suspicious message, do not click any links, block the message

• Contact Vantage Bank directly using a known phone number

• Check for spelling errors, unusual formatting, or unfamiliar sender addresses

3. Use Secure Channels

• Always log in through your bank’s official website or mobile app

• Enable multi-factor authentication (MFA) where available

• Avoid using Public Wi-Fi

For Business Customers:

• Enable dual controls for review and approvals

• Use fraud prevention resources such as ACH blocks & filters or Positive Pay for business accounts to block unauthorized transactions.

Business Online Customers, contact us at 877-627-9099 or 956-664-8990

Educate Your Team

• Share scam awareness tips with employees who manage financial accounts

• Establish internal protocols for verifying bank communications

• Train staff to report suspicious messages immediately

What to Do If You Suspect a Scam

1. Do not respond to the message or call

2. Report it to Vantage Bank immediately

3. File a report with the FTC (for consumers) or IC3.gov (for businesses)

4. Notify your Technology resource at your business if the message was received on a work device

5. Monitor your accounts for unauthorized activity

6. File a police report, if funds were lost or you suspect any private information has been stolen

If you ever feel unsure, reach out to Vantage Bank directly at 866-VANTAGE or (866) 826-8243. It’s always better to verify than to fall victim. We are here to support you, don’t hesitate to ask questions or report suspicious activity.