Common Scams to Watch Out For
Do you think you may have fallen or a scam? Do you want to take steps to protect your information before you fall victim to a scam? Then sign up for our ID Theft Monitoring today!
Knowledge is a powerful defense.
Check out these trending scams:
Cryptocurrency scams are on the rise
Recently, there has been an increase in fake investment schemes promoting legitimate cryptocurrency platforms such as Coinbase, and promising lucrative returns. Although the opportunity appears legitimate, all the invested funds are routed to a cryptocurrency wallet controlled completely by the fraudsters. The victims lose their investment.
- Using email, text messages, dating apps and investment groups, the scammer contacts fraud victims to gain trust and tout the "success" of cryptocurrency investments.
- Although various steps of the schemes vary, a common tactic is to direct a victim to a fake investment website that is similar to legitimate cryptocurrency platforms and helps them open an account and transfer money. Then the victim receives additional instructions to transfer their cryptocurrency assets to the fake investment platform.
- Once the victim sends money, the scammers set up a series of small transfers into the victim's wallet showing "profit". You may be able to make small withdrawals of this "profit" to hook you into believing that you'll make lucrative returns.
- As the victim invests larger amounts of money based on the returns they received, communications with the platform and access to the cryptocurrency account ceases and they lose all the funds they invested.
Listen to your financial institution
Banks and financial institutions often have safeguards in place to detect fraud and intercede before you transfer your funds to a possible scammer. If your bank or financial institution contacts you about a transfer you are making that is flagged as suspicious or fraudulent, listen.
Always research investment opportunities
Cryptocurrency platforms should have a whitepaper or other materials that explain how their cryptocurrency has been created and how it works. If the information is unclear or missing, be wary. In addition, review the biographies and backgrounds of the people managing the cryptocurrency. If that information is not easily available or missing, be cautious.
Question promises of guaranteed returns
No investment can guarantee future returns, as they will fluctuate. Cryptocurrency programs that guarantee a set return, a return that is exorbitant or offers free money is likely to be fake.
Be wary of pressure to act now
Scammers create a sense of urgency and pressure victims to click links, react and respond that moment, or make a payment immediately. These are red flags. Take the time to do further research.
Protect your personal information
Stop before you provide personal or financial informationCryptocurrency programs that guarantee a set return, a return that is exorbitant or offers free money is likely to be fake.
Careful with links and websites
Scammers imitate legitimate websites and embed bad links into texts and emails. Independently visit sites rather than clicking on links.
Caller ID Spoofing Scam
Scammers are using a technique called Caller ID Spoofing to pose as State National Bank team members or officers. These scammers are faking their phone number and caller ID information to make it appear as though they are calling from State National Bank.
Please Be Aware:
The State National Bank team will NEVER ask you for your passcode, security code, security question answers, or any information that may be used to obtain access to your Online Banking through an unsolicited phone call.
If you receive a suspicious or unsolicited call claiming to be from our Fraud department, or if you just feel uncomfortable with the questions being asked, hang up and call us back directly. We can be reached at (432) 264-2100 or you can call your local State National Bank branch and ask to be transferred to the Fraud Department.
Don't trust caller ID
Scammers can make any number appear, even your bank, a government agency, or a local business. Treat unexpected calls with caution, even if the number looks familiar.
Hang up and call back using a verified number
Use the company's official website, or a known contact line. Never rely on a number provided by the caller.
Never share personal or financial information
Legitimate institutions like State National Bank will not ask for account numbers, passwords, PINs, or verification codes over the phone. If someone pressures you, it's a red flag.
Watch for urgency or threats
Spoofers often use fear ("your account is locked") or pressure ("act now") to push you into quick decisions. Slow down — scammers hate that.
Use call-blocking tools and carrier protections
Many carriers offer spam-blocking or scam-likely filtering. Third-party apps can also help reduce spoofed calls.
Report suspicious calls
Reporting helps carriers and regulators track patterns and block.
Computer Bugs and Viruses
As new computer bugs and viruses are created and distributed, we want you to know what we're doing to protect your information.
What are bugs and viruses?
A software bug is a flaw in the computer code that creates errors in the application or program, which can make your computer vulnerable or have unexpected results. A computer virus is malicious code that can copy itself, and infect your computer and the way it operates. It can have unexpected or damaging effects.
Downloading files
Be cautious when downloading files from the internet, opening attachments or clicking on links. Use a recognized antivirus software or comprehensive security software.
Software updates
Update your system and mobile devices with the latest operating system versions and patches.
Unique passwords
Create different passwords for different websites, and make those passwords appropriately complex, using upper- and lower-case letters, numbers and, if allowed, symbols.
New passwords
Change your password regularly and enable your Online Banking account alerts. Those, along with other online account tools, will add another layer of coverage to your account.
Imposter Scams
"Your package was returned, and you need to reschedule your delivery"
Help protect your money - pause, verify, help prevent scams
State National Bank will never ask you to take these actions. Verify all requests for information or money. Talk to your friends and family about the tactics scammers use.
Initial Contact
You receive a communication about an issue - it may be with a delivery, your account, a family member or a device.
Deceptive instructions
You may be urged to provide information such as a code, or take an action such as provide remote access, move money to another account or digital wallet, ignore warning messages or input *72 or **21 in the phone.
The scammer wins
After following the instructions, the scammer now has access to your money, and it's unlikely you'll see your money again.
Investment Scams
"They guaranteed a quick return on the investment, and I was receiving those returns in the beginning"
Help protect your money
Always validate investment opportunities. Use caution if asked to provide personal or financial information, especially if asked to send money through digital currency or instant money transfers.
Initial Contact
The scammer will reach out through social media, text or email with a unique investment opportunity or a chance to get rich quick.
Deceptive instructions
You'll be convinced to invest your money and will start to receive small returns.
Fake returns
You're then encouraged to invest larger sums of money based on the returns you are receiving but suddenly all communications stop.
Tech Support Scams
"They needed remote access to remove a virus from my device"
Help protect your money
No matter the reason given, be cautious about granting device access or downloading unfamiliar apps to fix issues with your devices. Run a full system virus and spyware scan and power off the device.
Initial Contact
Scammers reach out, via computer pop-up or phone call, claiming there is an issue with your device.
Deceptive instructions
You are instructed to provide remote access to the device and to download an app to fix the issue.
Access to personal information
Once you grant remote access or download the app, the scammer has access to your personal information. They can install malware on your device and demand a payment before they give back your access.
Online Sales Scams
"I thought I'd scored really hard-to-get tickets"
Help protect your money
Slow down and use caution if pressured to act quickly. Research the seller and products independently, check reviews for possible scam notices. Most online promotions that sounds too good to be true - typically are.
Initial Contact
Scammers create a fake website or post a "great deal" on social media for an item you're had your eye on.
Deceptive instructions
They ask you to pay in less common ways such as cash, gift cards or wire transfers.
Pressured to act
You'll be pressured to act quickly so you don't miss out on the deal.
Online Job Scams
"I was offered a job paying $700 to $2,800 a day! All they need is my Social Security number, a copy of my driver's license, and a payment for the training book."
Help protect your money and identity
Online job scams are fraudulent schemes where criminals pose as legitimate employers to trick people into sharing personal information, sending money, or performing tasks that benefit the scammer. They often start with a job offer that seems too good to be true, high pay, flexible hours, or "no experience needed". Once someone shows interest, the scammer may ask for sensitive details like a Social Security number, request payment for "training materials", or send a fake check and instruct the victim to return part of the money. These scams rely on urgency and trust, making it crucial to slow down, verify the employer, and never share personal or financial information with an unverified source.
Never pay for a job — upfront fees are a major red flag
Legitimate employers do not ask you to pay for training, equipment, certifications, or application processing. If someone asks for money before you're hired, it's a scam.
Be skeptical of "too good to be true" offers
Scammers often promise high pay, fast hiring, or guaranteed income with little effort. Unrealistic claims are a common tactic to lure victims.
Protect your personal information
Never share your Social Security number, bank details, or copies of your ID until you've verified the employer is legitimate and you've completed a formal hiring process.
Research the employer before responding
Look up the company's official website, verify job postings, and check for warnings online. Scammers often impersonate real companies using fake listings and emails.
Disclosure: Information is educational in nature and not a solicitation of business from State National Bank.