Don’t Let an Imposter Scam Catch You Off Guard

Most of us have received a suspicious phone call, text message, or email at some point. While many are easy to ignore, others are carefully designed to look and sound legitimate. These are known as imposter scams, and they often target older adults by pretending to be trusted organizations, a government agency, law enforcement, or even a family member in need. Knowing how these scams work is one of the best ways to protect yourself and your finances.

Scammers often target older adults because they’ve built up savings over a lifetime, are more likely to answer the phone, and tend to trust someone who sounds knowledgeable or authoritative. They also know many people were raised to be polite and helpful—even when something feels a little off. Those assumptions are exactly what scammers count on.

The good news? No matter how sophisticated these scams become, they often share the same warning signs. By learning what to watch for, you can feel more confident recognizing an imposter scam before it has a chance to succeed. 

Imposter scams rely on one thing: convincing you to act before you have time to think.

A scammer may call, text, email, or even contact you through social media. They often sound professional and may already know personal information about you. Some even use technology to make it appear that they’re calling from a legitimate phone number.

For older adults, these scams often involve someone pretending to be from a trusted organization like a bank, Medicare, Social Security, the IRS, or local law enforcement. Others impersonate a grandchild or family member in an emergency, hoping to create enough panic that you’ll send money before verifying the story.

Their goal is simple—to create urgency so you’ll act without verifying who they really are. According to the Federal Trade Commission, imposter scams were among the most commonly reported scams in 2025, resulting in billions of dollars in reported losses.

While every scam is different, most imposter scams involve one or more of these warning signs:

1. They pressure you to act immediately.
2. They tell you to keep the conversation secret.
3. They threaten arrest, legal action, or suspension of benefits.
4. They ask you to move your money to a “safe” account.
5. They request payment through gift cards, cryptocurrency, wire transfers, or payment apps.
6. They ask for online banking passwords, security codes, or personal information.
7. They contact you through an unexpected phone call, text, or email.

If any of these happen, pause. A legitimate organization wants you to make informed decisions—not rushed ones.

One of the easiest ways to recognize an imposter scam is to know what trusted organizations simply don’t do.

Your bank, government agencies, and law enforcement will never:

• Tell you to move your money to “protect” it.
• Demand immediate payment using gift cards or cryptocurrency.
• Ask you to lie to your banker about why you’re withdrawing money.
• Request your online banking password or one-time security code.
• Threaten immediate arrest simply because you hung up the phone.
• Pressure you to stay on the phone while withdrawing cash.

If someone makes any of these requests, it’s a strong indication you’re dealing with a scammer. (Federal Trade Commission)

Remember: If someone claims to represent your bank, don’t use the phone number, email, or click on any link they provide. Hang up and call the number printed on the back of your debit or credit card, your bank statement, or listed on the bank’s official website. That simple step can prevent many imposter scams.

A few simple habits can dramatically reduce your risk.

Slow down.

Scammers succeed by creating panic. Give yourself permission to stop and think.

Verify independently.

If someone claims to represent your bank, the IRS, Medicare, Social Security, or another organization, end the conversation and contact that organization using a trusted phone number.

Talk to someone you trust.

Before sending money or sharing personal information, discuss the situation with a family member, trusted friend, or your banker.

Never share security information.

Passwords, verification codes, and online banking credentials should stay private.

Trust your instincts.

If something feels unusual or too urgent, it probably deserves another look.

Don’t let anyone isolate you.

Scammers often insist that you keep the situation confidential or stay on the phone while you withdraw money. A legitimate organization will never discourage you from talking with your family or your banker.

If you believe you’ve shared personal information, sent money to a scammer, or given someone access to your financial accounts, don’t wait to take action. Acting quickly may help limit further financial loss.

Here are a few important first steps:

1. Contact your bank immediately. If your accounts or debit card may have been compromised, let your bank know right away so they can help protect your accounts and discuss your options.
2. Change your passwords for your online banking, email, and any other affected accounts.
3. Monitor your accounts. Watch for unauthorized transactions and report anything suspicious as soon as possible.
4. Report the scam. Report fraud to the Federal Trade Commission at ReportFraud.ftc.gov⁠. Your report helps law enforcement track scam trends and may help prevent others from becoming victims.
5. Talk to someone you trust. If you’re unsure what to do next, don’t hesitate to reach out to a trusted family member, friend, or your local banker.

Remember, anyone can become the target of a scam. Reporting it quickly and taking prompt action can make a meaningful difference.

At First State Bank, protecting your financial well-being goes beyond safeguarding your accounts—it means helping you recognize fraud before it happens.

If you ever receive a suspicious phone call, text message, email, or request involving your finances, don’t hesitate to contact us before taking action. 

If something doesn’t feel right—even if you’re worried it might be a silly question—give us a call or stop by your local branch. We’d much rather help you verify a suspicious request than help you recover from a scam after the fact. Sometimes a five-minute conversation is all it takes to prevent a lifetime of savings from ending up in the wrong hands.

When in doubt, give us a call. We’re always happy to help.