Recent data from the Federal Trade Commission shows the continued rise of impersonator scams.
Impersonator or imposter scams are scams where people pretend to be a business or government entity in hopes of getting their target victim to provide sensitive information. According to the FTC data, U.S. residents reported losing $3.5 billion to imposter scams in 2025. Of that, people reported losing nearly $1 billion to business impersonators with the highest reported losses to bank impersonators. As these impersonation scams become more sophisticated, knowing how your bank will and will not communicate with you is your strongest defense against fraudsters.
Arvest fraud experts recommend cutting off communication immediately if you spot any of the following red flags:
False Sense of Urgency
Imposters thrive on panic. They will try to rush you into making a decision by claiming your account has been breached, unauthorized charges are pending or your money will be frozen if you don't act immediately.
Request for Confidential Credentials
A legitimate bank representative will never contact you out of the blue to ask for your sensitive information. It is a big red flag if the caller or message asks for:
- Your online banking password
- Your ATM PIN
- Your full Social Security Number
- The One-Time Passcode (OTP) or Multi-Factor Authentication (MFA) code texted to your phone
Directives to Move Your Money
At Arvest, we will never tell you to move your money to “protect” it. If you are instructed to transfer funds to a “safe account,” an “alias account,” wire money or use cryptocurrency/gift cards to resolve an issue, it is a scam.
Unexpected Links or Attachments
Watch out for unsolicited texts or emails claiming to be from the bank's fraud department. These often include a link to "verify a charge" or "cancel a transaction." Clicking these links often leads to fake websites designed to steal your login credentials.
Requests for Remote Access
If someone claiming to be from the bank or tech support unexpectedly calls and asks you to download an app or software so they can remotely access your computer or phone to fix an issue, they are trying to steal your information.
Spoofed Caller ID
Scammers can easily manipulate Caller ID to make it look like your bank or a “fraud department” is calling. Never trust the Caller ID alone.
Refusal to Let You Hang Up
Imposters will often insist that you stay on the line with them until a transaction is complete, threatening that your funds will be lost if you hang up.
What to Do If You Suspect a Bank Impersonator Scam
If you suspect you're being targeted by a scammer, cut off communication immediately. Do not reply to the text, do not click any links and hang up the phone. Verify the communication by reaching out to your bank directly using a trusted contact method, such as the phone number on the back of your debit card or the official number listed in your bank statement.
If you believe you've been a victim of a scam, contact your bank immediately and report it to the FBI by visiting IC3.gov. For Arvest customers, contact us at (866) 952-9523 or visit a local Arvest branch for assistance. If you need to make a report after banking hours, please email reportfraud@arvest.com.
