LifeStore Bank Cautions-There is a New Wave of Imposters

West Jefferson, NC - LifeStore Bank is sharing this information to help you be better informed and prevent scams. Imposter scams are a growing threat to financial security, costing billions of dollars each year. These scams involve criminals posing as trusted individuals or organizations to trick you into giving them money or personal information. They often create a false sense of urgency to bypass your critical thinking. Scammers will impersonate anyone you might trust, including government officials, family and friends, tech support, and banks or businesses.                                                                                                          

Tactics vary: a scammer might claim you owe back taxes and threaten arrest unless you pay immediately, send a fake invoice demanding cancellation, or email you about a “security issue” with your account to lure you into clicking a malicious link. Others take over your computer remotely—pretending to “fix” a problem—then instruct you to log into your online bank. The scammer then moves money between your own accounts. They later claim you were overpaid and pressure you to “refund” the excess, which sends your real funds to the scammer. Whatever the approach, the goal is the same—exploit your trust.

Red Flags to Spot: Stay vigilant for these warning signs:

• Urgency: They pressure you to act "now" to avoid severe consequences.
• Unusual Payments: They demand payment through gift cards, wire transfers, cryptocurrency, or cash—methods legitimate organizations would never use.
• Unexpected Contact: Be suspicious of unsolicited calls, emails, or texts, especially from government agencies or businesses you don't normally deal with.
• Requests for Personal Info: They ask for sensitive details like your Social Security number or passwords, which you should never provide to an unexpected caller or sender.

To protect yourself, a little skepticism goes a long way. If someone calls claiming to be from a government agency or a business, hang up and call them back using a phone number you know is legitimate. Don't call phone numbers or click on links in unexpected emails or texts; instead, go to the company's official website for contact information. If a family member or friend asks for money, reach out to them on a known number to confirm the story. You can also secure your online accounts by using strong, unique passwords and enabling two-factor authentication whenever possible.

Staying informed and skeptical is your best defense. If you've been targeted, report it to the FTC at ReportFraud.ftc.gov.  And remember—LifeStore Bank is here to assist. If you ever receive a suspicious call, email, or text involving your accounts, contact your local bank for assistance protecting you and your money. 

For more resources check out the LifeStore Bank Fraud Prevention webpage, https://www.golifestore.com/Resources/Online-Tools/Fraud-Prevention. Here you will find tips and articles on ways to protect yourself and your business.

LifeStore Bank prides itself on being your hometown bank since 1939. Today, LifeStore Bank operates in four locations in Ashe and Watauga Counties, and LifeStore Insurance is in those locations, as well as Elkin, Lenoir, Newland, and Sparta.

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