Business owners across the region are reporting a noticeable increase in fraudulent phone calls and voicemail messages. These scams often use spoofed caller ID information, making the call appear as though it’s coming from a trusted organization, vendor, or even a known employee. In several recent cases, callers have impersonated fraud‑prevention staff or internal team members to gain access to sensitive financial information.
This trend is part of a broader uptick in targeted phone‑based fraud aimed specifically at businesses — and the tactics are becoming more convincing.
🚨 How These Scams Typically Work
Scammers are using a mix of urgency, impersonation, and technical tricks to pressure business owners or staff into sharing confidential information. Common tactics include:
- Pretending to represent a fraud or security team and asking to “verify” account details
- Requesting confirmation of nonexistent wire transfers or other high‑value transactions
- Attempting to capture online banking credentials
- Asking for multi‑factor authentication (MFA) codes, claiming they are needed to stop fraudulent activity
- Using spoofed caller ID to appear legitimate
These calls often sound professional and urgent, which is exactly why they work.
🛡️ Key Reminder: Legitimate Institutions Will Never Ask for Sensitive Credentials
No reputable bank, vendor, or service provider will ask for:
- Online banking passwords
- Full account numbers
- MFA or verification codes
- Transaction details
- Complete login credentials
Any call requesting this information should be treated as fraudulent.
✔️ What Business Owners Should Do to Stay Protected
A few simple steps can dramatically reduce your risk:
- Be cautious of calls outside normal business hours — many scammers rely on timing to catch people off guard.
- End the call immediately if someone asks for login information, MFA codes, or sensitive credentials.
- Call the organization back using a trusted number — such as one listed on an official website, invoice, or account statement.
- Verify suspicious requests with a known contact, such as your account representative or relationship manager.
- Report any suspicious communication promptly so the organization can investigate and warn others.
🧭 What To Do If You Think You’ve Been Targeted
Even if you didn’t share information, reporting the attempt helps protect others. Make sure to:
- Notify your financial institution or service provider right away
- Document the call — including the number, time, and what was said
- Alert your internal team so no one else falls for the same tactic
- Monitor your accounts for unusual activity
Phone‑based scams are becoming more sophisticated, but awareness remains the strongest defense. By staying vigilant and ensuring your team knows the warning signs, you can significantly reduce the risk of falling victim to these schemes.
