Consumer Bank Fraud is on the Rise

Fraudsters are using sophisticated methods and new technologies to steal personal information for financial gain. Elderly people are frequent and repeat targets.
 
Based on reports to Consumer Sentinel and Federal Trade Commission
 

How CNB St. Louis Bank Can Protect You

Fighting Bank Fraud. With You. For You.


One of the best ways to help avoid being a fraud victim is to stay informed and bank with people who know you. At CNB St. Louis Bank, many of our staff members have been with us for years and know customers by name. While it’s nice to be neighborly, these close relationships have another purpose that’s just as important.

Because we know you, we’re better able to identify out-of-the-ordinary transactions.

For example, we can more easily identify red flags such as a customer suddenly exhibiting out of the ordinary transaction behavior.

Recently, a fraudster impersonating the “Fair Trade Commission” texted a customer to say her identity was unsecure and instructed her to withdraw large sums of money from her bank account. The fraudster coached the customer to tell us that the unusual withdrawals were for home repairs and her daughter’s wedding.
 

Because we knew the customer and were all-too-familiar with this type of scam, we quickly uncovered it. Then, we reassured our customer when she needed it most and helped with the appropriate security measures—such as checking her credit report to see if any fraudulent accounts had been opened in her name. Then, we closed her checking and savings accounts, opening new accounts with new, uncompromised, account numbers.

Learn More About the Most Common Scams: 

 

Imposter Scam
Romance Scam
Card Fraud
Overpayment Scam
Stolen Check Fraud
Fraud Red Flags






We vigilantly monitor our customers’ bank activity for potential fraud.

We believe in technology to enhance, not replace, our service offerings. Our experienced staff members use sophisticated tools and AI technology to monitor such activity as login and transaction history—including ACH and wire transfers. When we see something unusual, we call our customer. When a customer calls us—to add a travel notice to an account, for example—we call back to ensure the notice is legitimate.

In short, good service is about more than being good neighbors. It’s powerful fraud protection and just one more way we’re Banking. For You.

If your identity has been stolen:

Visit www.identitytheft.gov a Federal Trade Commission website, to report the incident and create a recovery plan. 

Tips to help you stay safe and secure online:

Check out the Federal Trade Commission's (FTC’s) free online security tips and resources, and share with your friends, family, coworkers, and community.

The Most Common Scams:


How Does the Imposter Scam Work?

Scammers can impersonate your bank over the phone and change the caller ID (called "spoofing") to appear legitimate. They can sound like real bank personnel as they attempt to gain sensitive, personal information about you and your bank accounts. They may even know some information already, such as the initial digits of your debit card.

These fraudsters may act friendly or try to scare and intimidate you. Through AI technology, they may even be able to mimic a voice you know, such as a family member. But if they start asking for personal information or tell you to send them money, hang up and call your bank directly. Even if the call sounds legitimate, the only way to know for sure is to call back, using the number on the back of your card.

It's a Scam! Your bank will NEVER call and for your: 


  • Username or password
  • Full account number
  • Email address
  • Full Social Security number
  • Debit card number or PIN
  • Online Banking SAC
  • Other personal information
If someone calls you, please ask if you can call them back to confirm and call our number, (314) 645-0666, and ask for Customer Service.
 

What is a Romance Scam?

A romance scam happens when a fraudster pretends to be romantically interested in someone, usually through online platforms like dating websites, social media, or messaging apps. These scammers use emotional manipulation to fain trust before asking for money or sensitive information. 
 

How Does a Romance Scam Work? 

  1. The Connection - The scammer initiates contact, often with a flattering message and a convincing profile. 
  2. The Relationship - They work to build an emotional bond, this could take weeks or even months to gain trust. 
  3. The Crisis - Once trust is established, the scammer invents a crisis—like a medical emergency, travel issue, or legal problem, and asks for money.
  4. The Pressure - They may become persistent, guilt-tripping the victim or promising to repay the money. 
  5. The Vanish - Once they've received the funds (or are denied), the scammer may disappear or start the cycle again with a new excuse. 

How to Spot a Romance Scam:

  • They avoid video calls or in-person meetings.  
  • They fall in love unusually quickly.
  • Their story involves being overseas—military, business trip, or working an oil rig. 
  • They ask for money or gift cards for emergencies, travel, or visas. 
  • Their social media presence seems limited or inconsistent. 

Protect Yourself: 

  • NEVER  send money or share personal financial details with someone you haven't met in person.
  • Do a reverse image search of their profile photos. 
  • Talk to a trusted friend or family member if something feels off. 
  • Pick up the phone and call your bank—they are your fraud expert and will help guide you through this scam. 
 
Remember: Real love doesn't ask for money. If something feels too good to be true, trust your instincts! 

What is an Overpayment Scam?

An overpayment scam happens when someone sends you more money than expected—usually by check or digital payment—and then asks you to return the difference. The payment appears real at first, but it eventually bounces or is flagged as fraudulent, leaving you out of your hard earned money. 

How Does an Overpayment Scam Work?

  1. The Setup - A scammer responds to a legitimate sale, service, or job posting and offers to pay—often over the agreed amount. 
  2. The Overpayment - They "accidentially" send a check or payment for more than what's owed. 
  3. The Request - They ask you to return the extra money via wire transfer, gift cards, or a different payment method. 
  4. The Fallout - The original check/payment bounces or is reversed, and you're left responsible for the full amount you refunded. 

Common Overpayment Scams: 

  • Selling items online (e.g., Craigslist, Facebook Marketplace)
  • Remote job offers that involve cashing checks
  • Fake clients seeking services from freelancers
  • Rental or real estate deposits 
  • Online pet adoptions or ticket sales

Protect Yourself: 

  • Never refund or forward money from an uncleared check or payment. 
  • Don't accept overpayments—insist on the exact amount owed. 
  • Confirm payment validity with your bank before spending or refunding funds. 
  • Be wary of deals that feel rushed, unusual, or overly generous. 
  • Pick up the phone and call your bank—they are your fraud expert and will help guide you through this scam. 

How Does Card Fraud Work?

Fraudsters can steal your card information in many ways—such as data breaches, skimming devices at the point of purchase, or ATMs. You may never know your credit or debit card information was stolen until you see unauthorized transactions on your monthly statements.

Fortunately, many credit card companies limit your liability for these charges—but it’s still a hassle to deal with removing the charges from your account.

Protect Your Cards:

  • Use a chip card for the highest level of data encryption.
  • Never enter your card number into a website that you didn't navigate to yourself.
  • Check your monthly statements carefully for purchases you didn't make yourself.
  • Contact your credit card company and/or bank if you see a suspicious transaction on your statement.
  • Utilize our CardValet® services, which help you control your cards through your mobile device.

To help prevent ATM fraud, CNB St. Louis Bank has installed anti-skimming devices that require cards to be inserted long side first. (Skimming devices only work if cards are inserted short side first.)

To learn more about our new ATMs and their features click HERE! 

How Does Check Fraud Work?

Fraudsters will steal checks and “wash them,” changing the recipient’s name and possibly the check amount as well. Fraudsters will often steal checks right out of your mailbox. 

🚩When you put up the red flag on your mailbox to let the postal carrier know you have outgoing mail, you’re notifying fraudsters as well. For them, a red flag literally is a red flag to check your mailbox! In recent years, fraudsters have been successful at stealing checks from the blue U.S. Postal Service mailboxes in many public areas. If you have outgoing mail with sensitive information or that contain checks, be sure to drop it off directly inside your local Post Office. You can learn more about check fraud here.

Protect Yourself from Check Fraud:

There are many ways to protect yourself from check fraud 

  • Instead of mailing checks, try using alternative payment methods, such as  Online Bill Pay.
  • If you must mail a check, go inside the post office or use the drop box attached to the building and inaccessible to fraudsters. 
  • Do not mail checks using the blue USPS boxes on the street, these are vulnerable to theft.
  • Check your online banking to ensure your checks are clearing for the correct dollar amount - on your computer or mobile device!
  • Look at images of checks that have cleared anytime day or night in our online banking.
  • Businesses have access to a low-cost high success prevention tool called Positive Pay. 

What to Do if Your Checks are stolen: 

  • Contact your bank immediately.
  • Call U.S. postal inspectors at 877.876.2455 to report mail theft.
  • Report theft of mail to the USPIS.
Scammers are always finding new ways to trick people out of their money—but most scams share the same warning signs. Knowing what to watch for can help protect your personal information, your accounts, and your peace of mind. 

🚩Common Red Flags to Watch Out For🚩: 

  • Urgency or pressure to act fast - Scammers want you to act before you think. If someone demands immediate action, whether it's sending money, clicking a link, or sharing personal info—pause and verify.

  • Requests for secrecy - If you're told not tell your bank, family, or friends about a transaction, that's a major RED FLAG. 
  • Unusual payment methods - Legitimate businesses and government agencies will never ask for payment in gift cards, cryptocurrency, wire transfers, or money through apps like Venmo or Cash App.
  • Too-Good-to-be-True Offers - Whether it’s a job, a prize, or a “guaranteed” investment, be cautious of anything that seems overly generous or perfect. 
  • Unfamiliar senders or callers - Be wary of messages or calls from unknown numbers—especially if they ask for account info, verification info, SAC codes, or your SSN. 
Remember: Scammers even have the ability to spoof a real number so even if the caller-ID shows a person or business you know, always proceed with caution. You can always hang up the phone and call the number back to verify it's safe. 

Tips To Stay Fraud Aware: 

  • Don’t click suspicious links in texts or emails—even if they look official.
  • Use strong, unique passwords and enable two-factor authentication when possible.
  • Double-check before sending money—especially to new contacts.
  • Monitor your accounts regularly for unusual activity.
  • When in doubt, contact your bank directly.














We’re here to help!

If you have any questions or concerns about fraud protection, do not hesitate to give us a call at
(314) 645-0666 to speak with a member of our local CNB St. Louis Bank team.