MSB Blog

Scammers are getting smarter—and sneakier—every day. They use convincing tactics, fake identities, and high-pressure tricks to steal money and personal information from unsuspecting individuals.

At Monson Savings Bank, we care deeply about protecting our customers, community members, and local businesses. That’s why we’re committed to helping you recognize the red flags before it’s too late. Whether it’s a suspicious phone call, a too-good-to-be-true prize, or a sudden demand for payment, knowing what to look for is your best defense.

Here are four common signs that you might be dealing with a scam:

#1

They PRETEND to Be Someone You Trust

Scammers often pose as representatives from well-known companies or government agencies—like the Social Security Administration, IRS, or even your utility provider. They may use names that sound official or familiar, such as charities or tech support services.

Watch out for spoofing: Scammers can manipulate caller ID to make it look like the call is coming from a legitimate source. Just because the number looks real doesn’t mean it is.

#2

Scammers say there is a PROBLEM or a PRIZE.

Scammers create a sense of urgency by claiming:

• You owe money or have unpaid bills
• A family member is in trouble and needs help
• There’s a problem with your bank or online account
• You’ve won a prize or sweepstakes—but need to pay a fee to claim it

These tactics are designed to catch you off guard and get you to act without thinking.

#3

They PRESSURE You to Act Immediately

Scammers don’t want you to stop and think. They may add pressure to get their victims to act immediately.

• Threaten arrest, legal action, or license suspension
• Claim your computer has a virus and needs urgent repair
• Insist that you act right now or face serious consequences

Red flag: Real companies and government agencies will never demand immediate action or threaten you over the phone.

#4

They Ask You to PAY in a Specific Way

Scammers often demand payment through hard-to-trace methods like:

• Gift cards
• Wire transfers
• Money orders
• Person-to-person payment apps
• Virtual currency (like Bitcoin)

In some cases, they’ll even send a fake check, ask you to deposit it, and then send part of the money back—leaving you responsible when the check bounces.

SCAMMERS may also ask for online banking credentials and make a mobile deposit to their victim’s account to fund the required payment.

Never share your online banking credentials. 

Some scammers may try to access your account directly or make mobile deposits to fund fraudulent payments.

Stay Alert. Stay Safe.

The best way to protect yourself from falling for any type of scam, is knowing what to look out for. Monson Savings Bank is dedicated to sharing information on various scams and strives to help keep our customers and community members safe.

Monson Savings Bank Is Here to Help

At Monson Savings Bank, we’re here to help you stay one step ahead. We offer secure digital banking tools, fraud detection services, and personalized support to help protect your information. If you ever suspect fraud or need guidance, please contact us.

Visit our Personal Security Center or our Business Security Center for more information and check out more Safety and Security blog posts to stay informed.

This content is provided for informational purposes only and does not constitute legal, financial, or cybersecurity advice. Personal banking customers should consult with qualified professionals regarding their individual financial and security needs. Monson Savings Bank is not responsible for any losses or damages resulting from the use of this information.