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Financial Fraud Prevention

Stearns Bank is committed to recognizing fraud schemes

At Stearns Bank, we look out for our customers' interests. We have extensive monitoring and reporting programs to recognize and prevent fraud. Our staff is educated about emerging fraud schemes. If we notice suspicious or unusual activity on your business account, we will intervene to help prevent financial loss.

See the notices below about current fraud scams. And watch our videos to stay ahead of fraud.

Do you suspect fraud on your account? Report your concerns with our online form.

Notices

Callers Posing as U.S. Customs, Border Patrol Agents

Beware of a phone scam where callers impersonate U.S. Border Patrol and U.S. Customs and Border Protection (CBP) officers. The call is a prerecorded message saying "A box of money and drugs being shipped has your name on it and has been intercepted." The caller is instructed to press #1 to speak with a CBP agent, who then attempts to get the caller's private banking information.

These calls are attempts to gain access to bank accounts and sensitive financial data. You should not provide the caller with any information. The Department of Homeland Security and CBP do not solicit money over the phone. If you receive such a call, take note of the number and other details about the call, and immediately hang up.

Phone scams can be reported to the Federal Trade Commission at reportfraud.ftc.gov

Ignore Bogus COVID Vaccine Survey

People across the country are getting emails and texts, asking them to complete a survey about the Pfizer, Moderna or AstraZeneca vaccine. In exchange they are offered a "free reward," but asked to pay shipping fees. This is a scam to obtain your credit card or bank account information. No legitimate survey would ask for personal financial information to pay for a “free” reward.

Learn more from the Federal Trade Commission: Consumer Information

Home Warranties and Service Contracts

Homeowners should be aware of a scam in which home warranty companies try to sell service contracts through direct mail or email. Typically, the sales pitch warns that the current home warranty is expired, and renewal is required by their mortgage company. In some states, it is unlawful to sell service contracts without being registered with the state insurance department.

See Order to Cease and Desist the Solicitation and Sale of Service Contracts in Nevada (PDF)

Small Business Matters

Tips for Safe Financial Travels This Summer

Stearns Bank offers tips to safe from fraud and scams while traveling this summer.

Read More
Tips for Safe Financial Travels This Summer

Video: How to Stay Ahead of Tax Season Scams

Video: How to Stay Ahead of Covid-19 Scams

Video: Staying Ahead of Business Email Fraud

Report Fraud or Suspicious Activity

Online form and phone number

If you have witnessed fraudulent activity at Stearns Bank, or have reason to believe that fraudulent activity has occurred on your Stearns Bank account, please contact us.

Go to our fraud reporting page
Report fraud or suspicious activity
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Resources

Loan Options Available For Rural Small Businesses

07/23/2021
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Safeguard Finances In Case Of Natural Disasters

07/20/2021
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Advice for Graduates Entering the Workforce

06/07/2021
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5 Reasons To Open A Small Business In A Rural Community

05/26/2021
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