Phishing and spoofing scams use deceptive emails, text messages, phone calls, and fake websites to trick people into sharing sensitive information or giving criminals access to their money. Learn how to recognize common warning signs, protect your financial accounts, and verify suspicious communications with these tips from Lake Region Bank.
Imagine that you receive an email that looks like it’s from Lake Region Bank warning you about suspicious activity on your account. It looks like an email you have received from us in the past and even includes our logo. The message urges you to click a link to protect your money. What would you do?
Financial scams are becoming increasingly sophisticated with the help of artificial intelligence (AI). Fraudulent emails, text messages, and phone calls are more convincing than ever before. Phishing and spoofing are two common tactics that can trick the most careful of customers into sharing their personal information.
The good news is that you can recognize the warning signs of these types of scams and protect your money. Let’s explore what phishing and spoofing are, how to spot them, and what to do if you receive a suspicious message.
What Is Phishing?
Phishing is a type of scam in which criminals try to trick you into sharing sensitive information or clicking a link that may install malicious software (malware) on your device so it can steal that information.
These types of attacks typically arrive as an email, text message, or phone call. The message might claim that there’s a problem with your bank account that requires your urgent attention. It might ask you to verify your account information to avoid closure of the account.
Combining fear with a sense of urgency is a winning tactic for scammers. If they can scare you into action, then there’s more of a chance that you’ll hand over your personal information or account details.
Let’s take a look at an example.
Imagine you receive a text claiming your debit card has been locked because of suspicious activity. The message includes a link to verify your account. Clicking the link takes you to a website. The site has the bank’s logo and a place for you to log in.
Seems like it might be legitimate, right? Unfortunately, this is a common setup of many financial scams. It starts with a random text message that creates a sense of urgency, includes a link that takes you to a website that might look real, and has a form for you that makes it easy to hand over your banking credentials.
The problem is that the link is fake. Not only could visiting it download malware on your computer, it may trick you into sharing personal information. And once scammers have that, they may attempt to access your accounts, make unauthorized transactions, and steal your identity.
How to Spot a Phishing Scam
As you can see, phishing scams aren’t easy to spot. But there are warning signs you can learn to look out for.
| Warning Sign | What to Notice |
| Unexpected Requests | Unexpected message about an account issue or transaction you don’t recognize |
| Urgent Language | Pressure to act immediately; threatens consequences such as account closure |
| Suspicious Links | Check to see if URL matches the URL of your bank (if not, it is likely a scam) |
| Unfamiliar Sender Details | Email or phone do not match the bank’s official contact information |
| Spelling or Grammar Mistakes | Unusual wording or inconsistent formatting |
| Unexpected Attachments | Message includes a file you weren’t expecting and don’t have a reason to open |
Scammers increasingly rely on AI to create polished messages with convincing language and few obvious mistakes. A message that looks professional isn’t necessarily legitimate.
What is Spoofing?
Spoofing is related to phishing. It is a common tactic phishing scams use to convince you to hand over your personal information. Spoofing is a tactic in which a scammer disguises their identity or communication to make it appear as though it comes from someone you trust, such as your Lake Region Bank personal or business banker.
Criminals often impersonate banks, individual bankers, government agencies, and familiar businesses. Spoofing can involve fake email addresses, manipulated caller ID information, fake websites, and other methods that try to convince you a communication is authentic.
For example, your phone might display the bank’s name when the incoming call is actually from a scammer. The caller may claim to be from our fraud department or tell you your account has been compromised.
To fix it, they may ask you for your password, PIN, or one-time passcode. Or, they may tell you transfer money into an unknown account. Unfortunately, AI has made these schemes all the more convincing. AI-generated voices and content can imitate real people and make their story seem credible.
How to Spot a Spoofing Scam
Because spoofing involves impersonation, an email, call, or text may look or sound legitimate. However, there are still warning signs you can spot.
| Warning Sign | What to Notice |
| Unfamiliar Contact Information | Email address, phone number, or “reply-to” address doesn’t match the bank’s official details |
| Unexpected Requests for Sensitive Information | The caller or sender asks for your password, PIN, one-time passcode, or other confidential information |
| Pressure to Move Money | You’re told to transfer funds due to a fraud investigation or security threat |
| Threats or Intimidation | Message threatens your account will be locked or closed unless you act |
| Unusual Instructions | Asked to keep a transaction secret, lie to someone, help with an investigation, use a bitcoin ATM |
| Something Feels Off | The communication is unlike anything you’ve received from the bank before |
Remember that caller ID and familiar logos are not proof that a communication is legitimate. If you’re unsure, end the conversation and contact Lake Region Bank directly using a phone number you already know and trust or find independently.
What to Do if You Think You’re a Victim of a Scam
If you think you’ve already become a victim of a phishing or spoofing scam, there are a few things you can do.
- Stop and don’t respond. Don’t click links, open attachments, share personal information, or transfer money.
- Verify the communication. Contact Lake Region Bank directly using a phone number you already know and trust.
- Report the suspicious message. Let us know you received a suspicious message. Report all suspected scams to the Federal Trade Commission at reportfraud.ftc.gov.
- Act quickly if you shared information. If you provided credentials, disclosed a verification code, or believe someone accessed your account, contact the bank promptly. Change compromised passwords and review your accounts, too.
If you think your Lake Region Bank account or card has been compromised, call 320-235-5900 for assistance.
At Lake Region Bank, we are here to help you navigate today’s evolving financial landscape. If you have questions about a suspicious communication or want to learn more about protecting your accounts, contact our local banking team. When something doesn’t feel right, don’t take a chance.
Spoofing Financial Scams FAQs
What is the difference between phishing and spoofing?
Phishing is an attempt to trick you into sharing personal information, clicking malicious links, or taking actions that benefit a scammer. Spoofing involves disguising a sender’s identity, such as making a phone call or email appear to come from Lake Region Bank, to make the scam seem legitimate.
How can I tell if an email or text from my bank is a scam?
Watch for urgent demands, suspicious links, unexpected requests for personal information, unfamiliar sender details, and threats to close your account. Because scammers can use AI to create convincing messages, contact Lake Region Bank directly if you’re unsure whether a communication is legitimate.
Will Lake Region Bank ever ask for my password, PIN, or one-time passcode?
You should never share your password, PIN, or one-time passcode with someone who contacts you unexpectedly, even if they claim to be a bank employee. If you receive a suspicious request, stop communicating and contact Lake Region Bank using a trusted phone number.
What should I do if I think I’ve fallen for a phishing or spoofing scam?
Contact Lake Region Bank promptly at 320-235-5900 if you shared sensitive information or believe your account has been compromised. Change any compromised passwords, review your accounts for unauthorized activity, and report suspicious transactions to your bank as soon as possible.
