Welcome to the last Fraud Friday of 2024! Over this past year EXB has made some great strides in the fight against fraud. We established a Fraud Department, began using cutting edge software to aid in detecting and preventing check fraud, began monitoring the dark web for our customer’s information, changed some account opening procedures to assist in preventing new account fraud, and began utilizing platforms that have detected debit card fraud. We have also closed out some accounts where fraud was discovered and in the process of all this have saved our customers money and avoided additional fraud from occurring. We were also able to stop some potential wire fraud before it happened. Tellers have done an amazing job spotting fake checks, CSRs were able to use their “spidey senses” to stop potential losses through wire transfers and new accounts. Several employees stopped fraudsters who called pretending to be our customers in order to get information or send wires. 2024 was a success and 2025 only looks to be better!
In 2024, the EXB Fraud Department has successfully prevented over $700,000 in potential fraud cases and loses. We were also able to educate ourselves and customers on all new schemes and tactics that fraudsters have come up with. These are ranging from Pig Butchering, Romance, and Imposter to Check Washing/Cooking, Brushing, and Quishing. Some things remain the same regardless of the scam; don’t give out information to strangers, and do not send any money to someone you don’t know!! Never pay in gift cards, wire transfers (solicited from a caller, text, or an email), or crypto. Check on your loved ones, especially the elderly! The more we learn about fraud and scams, the better we can protect ourselves, families, and customers. It’s like we always say, if you can spot a scam, you can stop a scam.
All of us at EXB look forward to serving you in 2025 and for many more years to come!