Since this is the last full week in the year, it would also be the last Fraud Friday. However, we are blessed to have an extra day with family this holiday, so I wanted to take today to wrap up fraud for 2025. This year with the aid of our fraud software, debit card system, and savvy employees, fraud losses at EXB are at an all-time low! I am so proud to say that of the $390,177.89 in check fraud the bank was exposed to in 2025, losses were only $7,936.10!! The bank was exposed to $31,626.35 in ACH fraud this year, with the only losses reported being $2,960.04. Of the $60,240.80 in debit card fraud we were exposed to, confirmed losses were $16,845.62 with cases back to September still pending. Credit card fraud exposure was $44.394.24 with true loses of only $4,833.61, and no wire fraud losses. We were able to detect 177 current customers information on the dark web and letters have been sent to all of those people with instructions of next steps to take.
Those numbers don’t reflect customer losses, however. We did unfortunately have a few customers become victims of different scams throughout the year. Honestly, I think we have seen at least one of almost every scam out there. That fact just tells me now more than ever education is crucial in the fight against fraud. The more we know what to look for the less likely we are to fall for something. Like they say, if you can spot a scam, you can stop a scam. Here are some of the topics covered on Fraud Fridays this year:
- Phantom Debt Collecting
- Health Insurance Scams
- Tax Scams
- Publisher’s Clearing House/Sweepstakes Scams
- Double Sided Spoofing
- Skimming
- Unpaid Tolls
- Travel
- Pet Scams
- Fraud Recovery Scams
- The Dangers of Airtags
- Imposter Scams; which include Romance, Government, Law Enforcement, Grandparent, Charity, Caregiver, and Bank impersonators
- Digital Wallet
- Task Scams
- Pig Butchering
- Holidays
- ID Theft and Gift Card Draining
- Check
- Elder Fraud and Abuse
As 2025 winds down and we look ahead to what 2026 will bring, let’s all make a conscious effort to be fraud aware every day. Keep your personal information just that…. personal. Don’t give out sensitive info such as SSN, bank, debit/credit card numbers. All those random numbers that call trying to lure you into parting with your money, don’t answer them. Be suspicious if something sounds too good to be true and remember you can’t win a sweepstakes or prize if you never entered a contest. Please keep a close eye on your elderly loved ones as they are more susceptible to certain types of fraud.
Tara Montgomery
Exchange Bank of Alabama
Fraud Specialist
(256) 691-0328
