A sophisticated phone scam that involves scammers impersonating banks is currently impacting WaterStone Bank customers. We want to warn you of this fraudulent activity and make sure you are aware of the steps to take if you are targeted by this phone scam.
How does the scam work?
Scammers will call using a spoofed (fake) phone number that resembles or matches your bank’s phone number, and may claim he/she is part of the bank’s security department. The caller will share that your bank account or debit card is being used in a different location by another person and that you need to shut down and/or freeze your accounts.
The scammer will ask for your personal information such as your account information and password. As soon as you provide your personal information and password, the scammer now has access to your bank account and will begin transferring money out of your account.
What should you do?
Remember that WaterStone Bank will not call you directly and ask for your personal information. If you receive a phone call from our Customer Service Center (414-761-1000) or another number that resembles a WaterStone Bank number, and the caller asks for your personal information, do not share any information. Instead, hang up and call our Customer Service Center number or your local branch to confirm the phone call. If you have any questions or believe you may have fell victim to this scam, please call our Customer Service Center (414) 761-1000 or your local branch immediately.