Fraud continues to evolve, and criminals are finding new ways to steal money and personal information. From deceptive messages to stolen identities, these scams often share one thing in common, tricking people into acting quickly or sharing sensitive information. According to the Federal Trade Commission, up to two million reports of identity theft were filed in 2025 alone. Staying informed about common fraud tactics can help you recognize warning signs early.
Below are some of the most common types of theft and fraud and steps you can take to reduce your risk.
Identity theft occurs when someone steals your personal information, such as your Social Security number, date of birth or account details, and uses it to open accounts, apply for loans or make purchases in your name. In many cases, victims don’t realize their identity has been compromised until they notice unfamiliar charges or accounts.
How to protect yourself:
Protect personal information whenever possible and be cautious about what you share online or on social media. Regularly reviewing bank statements and credit reports can help you catch suspicious activity early.
Account takeover fraud happens when scammers gain access to your existing online accounts by tricking you into sharing login credentials or security codes. Once inside, criminals may change passwords, move money or lock you out of your account entirely.
How to protect yourself:
Enable multi-factor authentication (MFA) and use strong, unique passwords for each account. Using a password manager can help simplify this while improving security. If at any time you think your account has been compromised, contact Bank Iowa so we can help review the situation and secure your account.
Phishing scams are designed to trick you into giving up sensitive information by posing as a trusted organization. These scams can arrive by email (phishing), text message (smishing) or phone call (vishing) and often create a sense of urgency, such as claiming there is a problem with your account or a family emergency.
How to protect yourself:
Be cautious of unexpected messages or calls asking for personal or financial information. Avoid clicking links or downloading attachments from unknown sources and contact businesses directly using trusted contact information if something seems suspicious.
As a reminder, if Bank Iowa contacts you, we will never ask for your full card or account number, PIN number, access code or sensitive information like your online banking login ID or password.
If you are uncomfortable about any request for your Bank Iowa account information, do not respond and instead call your local Bank Iowa location for further assistance to ensure you know who you are speaking with.
Debit and credit card fraud occurs when stolen card information is used to make unauthorized purchases or withdrawals. This can happen if a card is lost, stolen or compromised through a fraudulent website or data breach.
How to protect yourself:
Freeze your card immediately if it is lost or misplaced and request a replacement card as soon as possible. Monitoring account activity regularly allows you to report suspicious transactions quickly.
Tax fraud often increases during tax season and typically involves scammers impersonating the IRS. In these cases, criminals use stolen personal information to file fraudulent tax returns and steal refunds.
How to protect yourself:
Remember that the IRS will always make its first official contact by mail. Be wary of unsolicited calls, emails or text messages claiming to be from the IRS, especially if you have not received a letter first.
While fraud tactics continue to change, awareness remains one of the strongest defenses. Taking time to understand how common scams work and regularly monitoring your accounts can help reduce your risk.
If you believe your information has been compromised or you notice suspicious activity on your account, contact Bank Iowa right away so we can help review the situation and take action. You can also explore our fraud education resources to learn more about recognizing and preventing scams.