Mitigating Fraud Risk

Everyone can do their part to help mitigate fraud risk. Scammers today may leverage AI (artificial intelligence) to create phishing emails and texts, even creating fake voices and videos to impersonate people. With the rise of AI, scams are much harder to identify today than in the past.

See the resources below to help spot potential fraud, which include some of the most common scams you may encounter, and the best practices to help safeguard you or your business against attacks.

Common Scams

Common scammer tactics include impersonation, use of intimidation or urgency, unusual payment methods, and credential harvesting:

• Impersonation – this is when a scammer pretends to be someone you trust, like a government agency or a known company to trick you into paying. One form of impersonation could be Quit Claim Deed Fraud, where scammers forge documents to facilitate a fraudulent transfer of real property ownership. Another form of impersonation could be Call Spoofing, where criminals make fraudulent calls appear legitimate.
• Use of Urgency or Intimidation – scammers may create a false sense of urgency, intimidating you to act quickly before verifying claims.
• Unusual Payment Methods – a scammer may demand payment through wire transfers, cryptocurrency or gift cards.
• Credential Harvesting – spoofed websites are created by scammers to entice users to input their username and password or employ social engineering tactics in order to steal banking credentials.
• Ransomware Attacks – a scammer may design malicious software to block access to a computer system until a demanded amount of money is paid.

For a list of other common scams to watch out for, and for resources on where to get help:

Download our Cyber Security Considerations PDF

For more information on Quit Claim Deed Fraud and how you can protect yourself:

Download our Quick Claim Deed Fraud PDF

Best Practices

The following are best practices for mitigating fraud risk and safeguarding your account:

• Account Review – Look at your accounts at least daily. Call your bank with any suspicious transactions immediately.
• Keep Credentials Safe – Don’t share your credentials and beware of phishing attempts. Remember, Union Bank will never ask you for your credentials.
• Password Protection – Don’t reuse passwords or use the same password across multiple sites. Consider using a reputable password manager.
• Use Account Alerts – Set available alerts to inform of online activity.
• Use Anti-Virus Software – Install reputable anti-virus software on your computer.
• Confirm Callers are Trusted – No legitimate organization will call and request your account number, PIN, debit card, online banking credentials or social security number, nor will they threaten you with arrest, require you to purchase gift cards to settle a debt or ask you to conduct test transactions. Scammers may know personal information. If unsure about a legitimate call from Union Bank, hang up and call your local branch or Customer Care team to confirm at 800.753.4343.
• Report Fraud ASAP – Report fraud and lost funds at IC3 at ic3.gov and your bank as soon as possible.

For business customers, additional best practices include:

• Educate Staff – Provide regular cybersecurity training to staff. Train your employees to be cautious, especially with unexpected emails or requests for sensitive information. Avoid clicking links or opening attachments in unexpected messages and be cautious of messages from hacked social media accounts. Additionally, do not trust caller ID, as scammers can fake their numbers.
• Verify Invoices and Payments – Reconcile accounts daily. Use Positive Pay to write any checks. If you use ACH, use ACH filtering. For transfers, use out of band verification. If you use wires, confirm instructions received via email with sender by known phone number.
• Verify Companies – Research new companies online by searching their name with “scam” or “complaint,” and see recommendations from trusted sources.
• Safeguard Against Ransomware – Backup your data, system images and configurations, and regularly test them. Keep backups offline. Update and patch systems often. Create and test an incident response plan. Check your security team’s work with a 3rd party pen tester. Segment your networks so corporate business functions and manufacturing or production operations are separate.
• Insurance – Consider adding cyber and fraud insurance to your policy.

Being well-informed is your best defense against scams. For more information, read our blog post on Fraud on the Rise in 2025 and How to Prevent It.

Preventing Fraud Tips PDF

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