Dear Valued Customer,

I am writing to share an important update regarding fraud and security. Fraud continues to escalate, and the individuals behind it are persistent, persuasive, and manipulative. Whether you have been directly targeted or not, you or your business will likely continue to experience these types of attacks and will require an increasingly disciplined approach to protecting information and account access.

Fraud trends impacting businesses and the financial industry continue to grow. While it is not something most people openly discuss, individuals and businesses in our own communities have experienced significant financial loss, often in the hundreds of thousands of dollars per incident.

In recent years, TRB has expanded its approach to fraud prevention, from handling fraud within customer service to building a dedicated team of trained specialists. We work through fraud incidents with customers every day and continue to adapt as these threats evolve. 

When fraud occurs, even in cases involving significant financial loss, recovery can be difficult and outcomes are often uncertain. TRB is currently supporting legislation that, if passed, will bring better recourse, enforcement, and accountability for bad actors and the companies enabling them.

The primary schemes we are seeing today involve:

• Impersonating a bank through phone calls, emails, or text messages to persuade customers to release banking credentials or personal information,
• Impersonating a website to advertise a product and collect payments,
• Impersonating your known contacts through email or text to prompt actions that allow access to systems and accounts.

For example: Bad actors may contact a customer by phone, posing as a bank representative, and referencing suspected fraudulent account activity involving a check, ACH, or wire. Their goal is to deceive their victim into providing login credentials, passwords, or secure access codes.

In one recent case, a business owner complied with the fraudster’s directions, acting in good faith to take the necessary steps and protect their business, but ultimately, they lost over $400,000 to the fraudulent scheme. This is a real scenario of a private service business, the owner who I personally know.

Fraudsters rely on gaining access through trust. Limiting who has access to credentials within your household or business is critical. Consider access to your banking credentials the same way you would grant access to a safe holding your most critical asset.

As a reminder:

• NEVER provide your online banking credentials, passwords, or one-time passcodes over the phone, in an email or text.
• If you receive a suspicious unsolicited call, you should immediately hang up and contact the bank directly using official contact information on our website.
• Please remain vigilant and immediately report any suspected fraud or concerns to fraudsupport@trb.bank.

Available Tools and Best Practices:

• Review TRB’s Security Archives for training resources covering recent fraud schemes and best practices to help protect yourself and your business.
• To learn more about available digital tools to help secure your business, review our Treasury Management Solutions page or the best practices for Business Account Security. “Positive Pay” is a great solution to monitor payments from your account.
• Call (855)548-6474 for immediate access to an electronic banking support specialist to discuss available security solutions for your accounts.

Note: While fraud happens every day, we consistently see increased activity toward the end of the week, particularly on Friday. Use this as a weekly reminder to keep it top of mind for you and your team.

Thank you for choosing Texas Regional Bank—The People You Know.