How to Protect Your Business From Bank Impersonation Scams

Bank impersonation scams are getting harder to spot. Scammers may spoof a bank’s phone number, create a convincing website or claim there’s fraud on your business account.

The message is meant to make you worry. The request is meant to make you act fast.

Don’t take the bait.

Knowing the warning signs can help protect your business, your employees and your accounts.

How Bank Impersonation Scams Work

A scammer may call, text or email your business while pretending to represent your bank. The message might claim:

• Fraud was detected on your business account.
• A wire or ACH transaction needs immediate attention.
• Your business online banking access was compromised.
• You need to verify your identity to protect your money.

Next comes the pressure. The scammer may ask you to click a link, sign in to a fake website, share your online banking username or provide a one-time security code.

The phone number may even look familiar. That doesn’t mean the call is legitimate. Scammers can spoof caller ID to make a call appear to come from a bank or another trusted business.

Warning Signs of a Business Banking Scam

Pause if someone unexpectedly contacts you about your account and:

• Creates fear or a sense of urgency
• Pressures you to act immediately
• Asks for your username or password
• Requests a one-time security code
• Sends a link to access online banking
• Tells you not to contact your usual banker
• Asks you to change or approve a wire or ACH transaction

If something feels off, trust your gut. Stop communicating and verify the request independently.

Stop. Question. Verify.

You don’t need to figure everything out while the caller is still on the phone. Follow these three steps instead.

Stop

Hang up. Don’t click unexpected links, share your screen or follow the caller’s instructions.

Question

Does the request make sense? Do you know who you’re talking to? Has Primis contacted you this way before?

Verify

Contact a Primis banker you know or call 833-4PRIMIS (833-477-4647) using a trusted number.

Don’t call a number provided by the person who contacted you. Access online banking directly through the official Primis website or a trusted bookmark.

That one step can break the scam.

Protect Your Business Banking Information

Never give an unexpected caller or sender your:

• Online banking username
• Password
• One-time security code
• Account or transaction details

Let’s be clear: Primis will never call and ask for your password or a one-time security code.

Someone asking for that information may be trying to access your account or approve a fraudulent transaction using your credentials.

Train Employees to Recognize Fraud

Anyone with access to your business accounts can become a target. Employees who manage payments, online banking, wires or ACH transactions should know what these scams look like.

Create a clear process for verifying:

• Urgent payment requests
• Changes to payment instructions
• Unusual wire or ACH transactions
• Requests for sensitive account information

Employees should confirm unusual requests through a trusted contact method before sending money or sharing information.

Review these procedures regularly. Scammers change their tactics, and keeping your team informed is one of the simplest ways to strengthen your defenses.

Review Permissions and Use Dual Control

Review your business online banking permissions regularly. Each employee should have only the access needed to do their job.

Consider using dual control for sensitive transactions. With dual control, one authorized user initiates a transaction and another reviews and approves it.

That extra step creates another opportunity to catch something that doesn’t look right before money leaves the account.

What to Do if You Suspect a Scam

If you receive a suspicious call, text or email:

1. Stop communicating with the sender.
2. Don’t click links or provide information.
3. Contact a Primis banker using a trusted number.
4. Review recent account activity for anything unusual.
5. Make sure employees who access the account know what happened.

The Bottom Line

Scammers rely on urgency. Your best defense is to slow things down.

If someone claims there’s a problem with your business account, requests sensitive information or pressures you to act immediately, hang up and call Primis directly.

A few extra minutes could protect your business.

Think you may have received a fraudulent request? Contact your Primis banker or call 833-4PRIMIS (833-477-4647).