How to Recognize and Avoid Bank Imposter Scams
Bank imposter scams are a growing threat, and understanding how these scams work is your first line of defense.
In bank imposter scams, a scammer contacts you and pretends to be a bank representative in an effort to steal your money or personal information. While it may sound simple, these scammers use sophisticated tactics to manipulate you into transferring funds and sharing sensitive details, so staying informed on the latest threats is key.
Common bank imposter scam scenarios
- Email scams (phishing): You receive an email that appears to be from your bank and asks you to review transactions, verify account information, or update security settings. The email includes a link to sign in to your account, which directs you to a fake bank website designed to steal your login credentials.
- Text message scams (smishing): You receive a text message claiming that your bank account or card is locked, suspended, or expiring and requires immediate action. The message will include links to fake websites. You may even receive a message asking you to confirm a transaction, and if you respond “no,” you could receive a fraudulent phone call.
- Phone call scams (vishing): You receive a phone call from a scammer who claims there is suspicious activity on your bank account and asks you to verify personal information. They may pose as the fraud department, creating urgency to "secure your account" by providing login credentials — or transferring money to an account controlled by the scammer. Using caller ID spoofing, the call may even appear to come from your bank's legitimate number.
- In-person and mail scams: A scammer poses as a bank employee and visits your home or business, or sends fake letters on counterfeit bank letterhead — both in an effort to steal funds or personal information.
Common bank imposter scam red flags
Be wary of messages that:
- Are unexpected or urgent
- Request information about account problems
- Warn of a potential “inside job”
- Dissuade you from talking to a banker or visiting a branch
- Contain poor grammar
Do not comply with requests to:
- Cast or screen mirror your device display
- Move money to a “safe account”
- Enter a specific, suspicious web address
- Purchase gift cards
- Download software
How to help protect yourself from bank imposter scams
Verify Before You Act
- Verify independently: If a message seems suspicious or requests payment, verify the source through known and trusted contact methods.
Recognize and Avoid Threats
- Never share sensitive information: KeyBank will never ask for your full Social Security number, username, password, or PIN through unsolicited calls, emails, or texts.
- An important exception to this rule: If you’ve recently applied for a KeyBank product, we may need to contact you for personal information relating to your application.
- Be skeptical of urgency: Scammers attempt to create panic to make you act without thinking. Legitimate banks don't pressure you to make immediate decisions.
- Check URLs carefully: Before entering information on a website, verify that the web address starts with “https://” and matches KeyBank's official web address.
Protect Your Accounts and Information
- Use multi-factor authentication: Add an extra layer of security to your accounts by requiring an additional verification method when you sign in.
Monitor Your Finances and Enable Alerts
- Monitor your accounts: Check your accounts daily and review statements regularly.
- Enable alerts: Sign up for account alerts to receive notifications about KeyBank account activity.
How to determine whether a message is from KeyBank
To confirm whether an unexpected call or message is a legitimate KeyBank communication, contact Key directly by using a known, trusted method, such as 1-800-KEY2YOU® (dial 711 for TTY/TRS) or the phone number on the back of your debit or credit card, or by visiting a local branch. To verify a text message claiming to be from Key, view our list of five- and six-digit text codes at key.com/shortcodes.
What to do if you think you're a victim of fraud
If you suspect you’ve been a victim of a scam, call your bank and other account providers immediately. Key clients should call the KeyBank Fraud Client Service Center at 1-800-433-0124, or dial 711 for TTY/TRS, for immediate assistance.
How to stay informed about fraud
Bank imposter scams continue to evolve as criminals develop new tactics and technologies. Stay up to date on the latest fraud trends and security tips by regularly visiting our fraud prevention resources at key.com/fraud.