Peoples Bank is encouraging customers to strengthen online habits and stay alert to the rising number of digital scams. Fraud activity continues to climb nationwide. According to the Federal Trade Commission (FTC), consumers reported more than $12.5 billion in losses in 2024 – a 25% increase from the prior year.
Investment scams had the highest monetary loss in 2024 with $5.7 billion in losses, followed by $2.9 billion lost to imposter scams. Consumers also lost more money through bank transfers and cryptocurrency than all other payment methods combined. These trends continue to rise, with scammers adopting more aggressive tactics, including artificial intelligence (AI)-generated impersonation, social media-based deception and more.
“It’s important to understand how fast these schemes are evolving,” said Compliance Fraud Specialist Tara Ramos. “At Peoples Bank, we want our customers and communities to stay informed and take steps to protect themselves online.”
Top 5 Fraud Categories
Here are the top five fraud categories reported in 2025, based on Federal Trade Commission data.
1. Imposter scams – 516,724 reports
Imposter scams remain the most reported fraud type in the country. Scammers continue posing as banks, government agencies, family members or well-known companies, now using AI-generated voices, spoofed phone numbers or convincing emails. These scams pressure people to act quickly, send money or share account information. Customers should verify any unexpected request by contacting the organization directly using a verified phone number.
2. Online shopping & negative reviews – 193,020 reports
Online shopping scams continue to grow, driven by fraudulent ads on Facebook, Instagram, TikTok, and other platforms. In August 2025, the FTC warned consumers about “big discount” social media ads impersonating real brands, which often link to fake websites designed to steal money or personal information. Shoppers may receive a counterfeit product or nothing at all.
To stay safe, research the seller, compare prices and use a credit card for purchases. Scammers often push customers toward gift cards, wire transfers, payment apps, or cryptocurrency – all red flags.
3. Internet services – 118,071 reports
These scams include fake tech-support calls, phony antivirus subscriptions, and pop-up warnings claiming your device is compromised. Scammers often request remote access or immediate payment. Avoid clicking on pop-ups and contact service providers using verified customer service numbers.
4. Business & job opportunities – 75,364 reports
Scammers continue targeting people searching for jobs or supplemental income. Fake job postings, business “starter kits,” and work-from-home offers often require upfront payment or ask applicants to transfer money during the “hiring process.” Legitimate employers never ask new hires to pay fees or move funds for them.
5. Investment-related scams – 66,703 reports
Investment scams remain one of the most expensive fraud categories. High-pressure cryptocurrency schemes, fake trading platforms and AI-driven “advisors” continue to promise guaranteed returns. If an investment sounds too good to be true, it likely is. Independent verification is critical.
Common Types of Identity Theft
There are some common types of identity theft to also watch out for.
The Federal Trade Commission received more than 1 million reports of identity theft in 2024, with credit card abuse being the main method of identity theft.
“Identity theft becomes more sophisticated every year, and we want our community to stay one step ahead,” said Ramos. “We urge our customers to stay vigilant and contact us if something feels off.”
Peoples Bank encourages you to stay aware of common types of identity theft and how to avoid it:
Account Takeover Fraud
In this type of fraud, scammers use stolen information like usernames, passwords and account numbers to take over social media and bank accounts. Then, they reset passwords or emails to lock the user out of their own accounts.
- Action step – Enable multifactor authentication (MFA) and consider using a password manager. MFA adds an extra security step to prevent unauthorized access even if your password is stolen. Password managers create strong, difficult-to-guess passwords to keep criminals at bay.
Debit & Credit Card Fraud
Fraudsters use stolen account information to withdraw funds or make purchases with your card.
- Action step – Put a freeze on cards the minute they’ve been lost or misplaced, and quickly request a new card if the old one is lost for good. Additionally, regularly monitor accounts for suspicious transactions and report it quickly.
Tax Fraud
With tax season in full swing, it’s important to avoid fraudsters posing as the IRS. This occurs when criminals use your Social Security number to file a tax return to steal your refund.
- Action step – Be aware the IRS will always make its first official contact via mail. Do not answer or respond to any supposed calls or texts from the IRS if you haven’t first received a letter.
Learn More
Peoples Bank encourages customers to stay alert, update online security habits and report suspicious activity right away. For more fraud prevention tips or to speak with someone at Peoples Bank, contact us.