Phone and Text Scams

Remember that WaterStone Bank will not call you directly and ask for your personal information.

If you have any questions or believe you may have fell victim to a scam, please call our Customer Support Center at (414) 761-1000 or your local branch immediately.

Many sophisticated text and phone call scams are currently active that involve scammers impersonating banks, government agencies, and family members.
 

How do these scams work?

Bank Impersonation Scam

Scammers may be able to call you using your banks phone number and claim that they are a part of the security department. They will usually share that your bank account or debit card is being used fraudulently and that you will need to freeze your accounts. They will ask you to verify personal information, and then use that to obtain access to your bank accounts.

Company Impersonation Scam

Scammers may be able to spoof e-mail addresses or phone numbers that look like they are coming from reputable companies, such as Amazon. These messages are often claiming that there is something wrong with your order or account and that you should click the link above to resolve the issue. They will often also try to instill panic by saying your account may be locked or shut down if you do not resolve the issue quickly.

Government Agency Impersonation Scam

Scammers may be able to call or e-mail you impersonating a government agency by making their address and/or phone number look similar or exact to an official one. By clicking a link included in that message, it brings you to a website that is meant for you to input personal information. The scammers will obtain this information and use it to gain access to things like your bank account. They may also try to intimidate you by speaking aggressively on the phone and threatening you with claims of warrants or other criminal charges if you do not give them the information they are asking for.

Family Member Impersonation Scam

Scammers may be able to spoof the phone number of a friend or family member. This tactic is mostly used to target grandparents by using their grandchildren's phone number and contacting them stating they are in trouble and need money to resolve their problem. The most used tactics involved with this certain scam are asking for bail money to get out of jail, help paying a hospital bill or college fee, and even payment to leave a foreign country in an emergency. These scammers convincingly impersonate a loved one and use pressure tactics to trick you into sending or wiring money quickly, as well as reminding you to keep the situation a secret so that no one can tell you that it is a scam.

What should you look for?

• If you receive an unsolicited phone call, research the number online to see if you can find others reporting that the number is linked to fraud.
• If you receive an unsolicited e-mail, verify the e-mail address by clicking on the sender and verifying it by researching the official domain online.
• Never click links in an unsolicited e-mail or text message.
• Pay close attention to grammar mistakes in e-mails or text messages.
• If you are unsure if a situation is suspicious, contact the WaterStone Bank Customer Support Center or speak to anyone at your local branch for support.
• If you cannot verify the identity of someone over the phone, hang up and redial the number to confirm that it is genuine.
• Do not be pressured by urgency no matter how serious the story sounds.