3 Financial Scams To Stay Aware Of
Fraudsters change their tactics, but the playbook stays consistent: create urgency, build trust (or fear), and push money transfers that are hard to reverse. According to the FBI’s most recent Internet Crime reporting, Americans reported nearly $21 billion in cyber-enabled crime losses in 2025, and complaints topped one million for the first time. While some age groups report higher dollar losses than others, these schemes affect people of all ages—and the best defense is knowing what to watch for.
Below are three major fraud categories that banks and consumers should keep on their radar.
1. Investment Fraud
Investment fraud remains the largest loss category nationwide, with about $8.65 billion in reported losses in 2025. Many cases involve criminals directing victims to convincing—but fake—investment websites or apps that show “profits” that aren’t real. A common pattern is a long, relationship-building approach (sometimes called “pig butchering”) where the scammer nurtures trust over time and then escalates requests for larger deposits—often using cryptocurrency.
What to do: Be cautious of “guaranteed” returns, pressure to act quickly, or anyone insisting you must pay “taxes” or “fees” to withdraw your money. Always verify the firm and the offer independently (not through links sent by a stranger).
2. Tech Support Scams
Tech/customer support scams are among the most financially damaging schemes, totaling about $2.13 billion in reported losses in 2025. These often begin with a pop-up, email, text, or call claiming your device or account is compromised—then pivot into instructions that move money or expose credentials.
Bank impersonation is a frequent variant: the FDIC describes texts that mimic security alerts, followed by calls from a fake “fraud department” requesting personal information or login codes.
What to do: If you receive an unexpected alert, pause and verify. Hang up, then contact State Bank of Bement using a trusted number—like the one on the back of your card or a recent statement—rather than a number provided by the caller or text. Avoid clicking links in unexpected messages, and never share one-time verification codes or grant remote access to your device.
3. Romance and Confidence Scams
Confidence/romance schemes continue to drive major losses—about $929 million reported in 2025. The FTC also notes that large reported losses (including six-figure losses) are often associated with investment scams, romance scams, and impersonation schemes. These scams typically start with an emotional connection (romantic or “trusted friend/mentor”) and then shift into urgent requests for money, gift cards, wires, or crypto.
What to do: Treat any request for secrecy, urgency, or unusual payment methods as a red flag. Consider an “active pause”—a deliberate break before acting—so you can talk to a trusted person and verify the story.
Fraud thrives on speed and emotion. Building a habit of slowing down, confirming details through official channels, and asking a second person for perspective can prevent many losses before they happen.