Scams and fraud are becoming rampant and much harder to spot. In the past, phishing emails and text messages often contained misspelled words and grammatical mistakes.
These days, scammers are using artificial intelligence to create phishing emails and texts that are much harder to spot. They also use AI to create deep-fake voices and videos to impersonate people and improve their chance of success. At Union Bank, we pride ourselves on bank security and want to help the community avoid getting scammed.
Financial Scams Are a Nationwide Problem
American consumers lost more than $12.5 billion to fraud in 2024, according to the Federal Trade Commission (FTC). This was a 25% increase over the previous year. Imposter scams were the most prevalent, with government imposter scams increasing from $171 million in 2023 to $789 million in 2024. Email was the most frequent method of contact, followed by phone calls and text messages.
Fraud Trends in New Hampshire
New Hampshire ranks among the top 10 states for fraud and impostor scams, according to the FTC. Age is a significant factor among victims, as residents in their 60s were the most frequent victims with 1,115 reports and total losses of $2.9 million. Those in their 70s were the second most frequent victims with 835 reports and $5.8 million lost.
Phishing attacks and business email compromise (BEC) schemes are prevalent in New Hampshire, according to a 2025 report by the New Hampshire Cyber Threat Assessment Office, with phishing emails and attempts to compromise people’s identities and commit ransomware attacks.
Scammers also impersonate the head of an organization to initiate fraudulent financial transfers, obtain sensitive information, or trick an employee into revealing their workplace logon information.
In December 2024, the New Hampshire Attorney General’s office warned of a blackmail scheme targeting New Hampshire residents. Recipients would receive an email that included their name, address, phone number, and a picture of their home. An attached letter falsely claimed a virus was placed on the recipient’s device that lets the scammer track all their online activities. The scammer threatens to release this “information” unless the victim pays a “privacy fee” in cryptocurrency.
Fraud prevention in New Hampshire involves remaining alert and reporting all scams to the authorities. Anyone who receives a scam email, or anything similar, is advised not to respond to it and instead notify the attorney general’s Consumer Protection Hotline:
1-888-468-4454
E-mail: [email protected]
www.doj.nh.gov/consumer/complaints
Fraud Trends in Vermont
The FTC reports that seniors were the most frequent victims of scams in Vermont. Those in their 60s filed the most scam reports at 571, with $1.4 million in losses. Residents in their 70s came in second with 428 scam reports and losses of more than $800,000.
There were 3,533 scam reports made with the Vermont Attorney General’s office in 2024, with “computer tech support” scams topping the list at nearly 30% of scams reported. These scams often involve a hacker tricking someone into believing they have a computer issue, such as antivirus software that’s about to expire or that malware has infected their computer. Sometimes a scammer sends fake messages to someone’s phone or email about packages or unauthorized orders.
The same type of email extortion scam mentioned above ranks second among Vermont consumers. Fraud prevention in Vermont requires citizens to be alert and to let the authorities know of any suspicious activity. The state attorney general’s office has a Vermont scam reporting and alert portal where residents can file a report online if they were scammed, and sign up for Vermont’s Scam Alert System to receive warnings of scams being perpetrated.
The Elderly Are Frequent Targets
In February, more than 25 Canadians were indicted for their alleged involvement in a “grandparent scam” that defrauded elderly residents in Vermont and 40 other states out of more than $21 million.
The IRS reports the defendants spent three years running their scam from call centers in and around Montréal. Scammers would claim to be an elderly victim’s relative, such as a grandchild, who had been arrested and needed bail money. Other defendants would pose as an attorney and claim that there was a “gag order” on the phony case and warned the victim not to tell anyone about the “arrest.” Victims would send money to the scammers using cash deliveries, confidential transactions, and cryptocurrencies.
How to Recognize Scams and Avoid Them
Any unsolicited email, text, or phone call should be viewed with suspicion if someone asks you for money or tells you to do something. This is especially true if they claim there is an emergency, and you must respond immediately.
Scammers usually try to get someone to act quickly, without giving them a chance to think about what’s happening. If this ever happens to you, take the time to think about what they want and do not respond until you can verify whether someone is legit.
“Keep It a Secret” and Unusual Payments
If someone asks you to keep a transaction secret and not tell anyone about it, that is a huge red flag and most likely a scam. Another sign is if they ask you for money through an unusual method, such as prepaid gift cards, cryptocurrencies, or retail wire transfers (instead of a bank). Some scammers have told their victims to do a wire transfer at their bank and lie about the reason for it. That pretty much guarantees that it’s a scam.
Ask Questions and Give No Answers
When an individual claims to be someone you know, try asking them questions that only the real person would know. What was the last thing you and your grandchild did together? Is there an old joke or a family story that only one of your relatives would know? Don’t reveal any information, just ask the other person questions and make them provide the answers.
Always Verify
If someone calls you claiming to be a relative, your boss, or a coworker, you could hang up the phone and contact this person at a number that you know is legitimate. You could also reach out to someone, such as another relative or colleague, who could help verify the situation.
When someone claims to be from the government, ask for their name and call-back number. Scammers can use technology to hide the number they are really calling from, so the caller ID on your phone might not be the scammer’s actual number. Try searching the Internet for whatever numbers they give you to see if they’re legit or if there have been any complaints about scam calls from that number.
Watch out for Phishing Emails and Texts
Don’t open emails, download any files, or click on a link that is sent from someone you don’t know. If they claim to be someone you do know, think about why they are contacting you from an email address or cell number that you have not seen before. A phishing email could also come from the address of someone you know, if their email account was hacked.
If someone emails you a link, try hovering your cursor over the link (without clicking on it) to see if you can tell whether it is legit. Scammers may post the image of a link that looks legitimate, but when you click on it, you could be taken to a scam website, open your computer up to being hacked, or become the victim of some other nefarious activity.
Scammers often use part of a legitimate email or web address to try and fool people. For example, emails from Union Bank will include “@ublocal.com” in their address. An email from ”@unionbank.fake.com” would obviously be a scam. Take a close look at email addresses, because real scammers won’t be that obvious.
Don’t Get Personal
Obtaining someone’s personally identifiable information (PII) is like a gold mine for scammers. Things like your date of birth, Social Security number, bank account numbers, and passwords could be used for identity theft or to steal your money.
Do not give anyone this information unless you’re sure they are legitimate and have a valid reason to ask for it. If someone calls you out of the blue, sends you a text or an email, and claims they need this information, take the time to investigate.
For example, a scammer might email or call you claiming to be from the IRS. They might make up a story about how they just need to verify some information or claim there’s been a mistake on your tax return. In some cases, scammers have even threatened people with arrest if they don’t comply. If the IRS needs information from you, they will send you a snail mail letter. They don’t just call people out of the blue and threaten them.
Use Strong Passwords and Keep Them Protected
Most people know that “Password123” is too easy to hack, but you might be surprised that some people’s passwords aren’t much stronger. A password that includes part of your home address, a pet’s name, or something similar could also leave you vulnerable to getting hacked. Make sure your password is something that would be hard to guess and includes some variation of capitalized and uncapitalized letters, punctuation marks, numbers, and symbols.
If you have multiple passwords to remember, consider using a password manager. It can create complicated passwords for you that would be difficult to hack, and it stores them in a vault. With a web browser extension, your password manager could automatically fill in your password information. This way, you would only have one complicated password to remember, to access your password manager, and it would do the rest.
You could make your passwords and accounts even more secure by using multifactor authentication, also known as two-step authentication. You could connect your accounts (or your password manager) to an app on your phone that you would use to approve or deny access. This way, even if someone hacked your password, they could still be blocked by the authentication requirement.
Avoid Oversharing
Many people live their lives online these days, with their phones and social media making it easy to stay connected. Unfortunately, that also makes it easy for someone to set you up for a scam. Think about the password reset questions that you typically use when creating an account. A question might be about the street you live on, the name of your pet, where you went to high school, etc. If anyone could find this information just by looking at your social media posts, you could leave yourself open to getting scammed.
Keep Your Software Updated
The software on your computer and apps on your phone should be kept up to date, including their operating systems. Consider using antivirus and anti-malware programs and have them scan your devices on a regular basis to look for threats.
Debt and Mortgage Relief Scams
The FTC warns that debt and mortgage relief scams are a rising trend. Scammers will contact a homeowner who may have fallen behind on mortgage payments. The scammer claims to be a foreclosure consultant, mortgage consultant, or a debt and financial counselor, who represents a government agency or “loan modification” business.
The warning signs of a debt relief scam include someone who:
- Demands a fee in advance or offers to renegotiate your debt for a fee.
- Recommends that you break off contact with your lender or debt counselor.
- Tells you to stop making mortgage payments, or to send your debt payments to a different company or organization.
- Refuses to put their promises in writing or asks you to sign a document with blank lines or spaces.
Stay One Step Ahead
Because scammers and hackers are constantly changing their methods, it is important to be aware of the latest threats. The Cybersecurity and Infrastructure Security Agency (CISA) issues cybersecurity advisories on the latest threats, and you can sign up for threat alerts as well.
We’re Here to Help You Stay Safe
For more information on scams and how to avoid them these check out the Security Resource Links on our website, or our information on Mobile Banking Security. You can also bookmark our blog to stay up to date on other fraud and baking tips.
