Top 3 Scams to Watch For – Tips from Fraud Investigators

Scammers are always finding new ways to trick people, but our Fraud Investigation Team is here to share information to help you keep your money safe. 

1. Spoofing & Vishing (Phone Call Scams)
• Fraudsters disguise their number—sometimes even making it look like it’s coming from our bank’s main number (414) 761-1000.
• They claim there’s an urgent issue with your account and pressure you to share personal or digital banking information.

Protect yourself: Hang up, then call us directly at (414) 761-1000 or our Fraud Department at (414) 459-4175.
Reminder: WaterStone Bank will NEVER call you to ask for your digital banking or account information.

2. Phishing (Email Scams)
• Fake emails appear to come from trusted companies or even people you know.
• They warn of urgent problems and request personal information.

Protect yourself: Check if the address is legitimate (see sidebar). Spelling and grammar mistakes in the heading or body of the email can be a tip-off that an email is fake, although the current use of AI tools by scammers has made such mistakes less obvious. And always remember that reputable companies will not ask for sensitive information through email.

3. Smishing (Text Message Scams)
• Fraudulent texts pretend to be from your bank, warning about suspicious transactions.
• If you reply, scammers may follow up with a call asking for debit card or digital banking info.

Protect yourself: Never click on links or respond to suspicious texts and keep your phone’s software up to date. Stay alert. Stay secure. With these tips from WaterStone Bank’s Fraud Investigation Team, you can outsmart scammers and keep your finances safe.

Bonus Tip: Is this URL safe?
• Hover over the link before clicking
• Look for a padlock icon 
• Look for https://
• Check for misspelled or altered domain names, for example: Amzon.com instead of Amazon.com; Wikipedia.com instead of Wikipedia.org


If your WaterStone Bank account is involved in a case of identity theft, notify the Customer Support Center at (414) 761-1000.