October is Cybersecurity Awareness Month, making it the perfect time to brush up on the latest financial scams and learn how to protect yourself. According to PEW Research, “73% of U.S. adults have experienced some kind of online scam or attack. Most get scam calls, texts, and emails at least weekly!” We’ve rounded up five of the most common scams we’re seeing in 2025—plus simple steps you can take to stay safe.

Top 5 Financial Scams in 2025

1. *72 or **21 Call Forwarding Scams

You may not realize it, but dialing *72 (Verizon) or **21* (T-Mobile) on your phone is a shortcut to set up call forwarding. Scammers are taking advantage of this feature in clever ways.

Here’s how it works: You might get a call from someone claiming to be from your bank. They’ll say there’s an urgent issue with your account and ask you to hang up and immediately dial *72 plus a 10-digit number to “secure your account.” In reality, you’ve just forwarded all your calls to the scammer’s phone number. From there, they can intercept authentication codes and gain access to your accounts.

2. AI Bank Scams

Artificial Intelligence is making scams harder to spot. Criminals now use AI to clone voices or create convincing emails and texts that look like they’re from your financial institution. For example, you might receive a phone call that sounds exactly like a family member or even a representative from your bank. They’ll ask you to transfer money or share sensitive information.

Technology is so advanced that even cautious people can be fooled. That’s why it’s important to pause, verify, and never act on urgent requests without checking directly with your bank.

3. Fake Bank Websites and Apps

Fraudsters are setting up look-alike websites and mobile apps that mimic legitimate financial institutions. If you click a link in a suspicious text or email, you may end up on one of these fake sites, where they’ll prompt you to enter your login credentials.

Once they have your information, scammers can access your real accounts. Always make sure you’re on the official Members Trust website or using our secure mobile app from your device’s app store.

4. Person-to-Person Money Scams

Apps like Zelle®, Venmo, and Cash App make sending money fast and easy—but scammers take advantage of this speed. A common trick is to pose as a friend, buyer, or even a seller online. Once you send money through a P2P app, it’s usually gone for good.

Be cautious when sending money to anyone you don’t personally know and trust. Double-check usernames and remember: if a deal sounds too good to be true, it probably is.

5. Fake Text Message Scams (smishing)

“Smishing” is the text-message version of phishing. Scammers send texts that look like they’re from your bank, the IRS, or a delivery service. These messages often include links to click or phone numbers to call to get you to hand over personal or financial information. If you ever receive a suspicious text, don’t click any links—contact your financial institution directly instead.

How to Protect Yourself with Cybersecurity Awareness

Scammers are creative, but you can stay safe with these fraud-prevention tips:

• Use strong, unique passwords and enable multifactor authentication (MFA).
• Monitor your accounts regularly using online or mobile banking.
• Be skeptical of urgent requests, especially if they involve money or personal information.
• Shred sensitive documents before discarding them.
• Keep your devices and apps updated with the latest security patches.

What to Do If You’ve Been Scammed

If you’ve been the victim of a scam, know that you’re not alone. What matters now is quickly taking steps toward recovery.

1. Contact Members Trust immediately. We’re here to help you move forward.
2. Change your logins and passwords to protect your accounts.
3. Add a second layer of authentication (MFA) to your accounts and turn on push notifications.
4. Contact one of the three credit reporting agencies to place a fraud alert on your file. You can contact any of the three nationwide credit bureaus to request a fraud alert, and that bureau will send a request to the other two bureaus to do the same.
   A fraud alert warns creditors that you are or may be a victim of fraud, including identity theft, which makes it harder for someone to open unauthorized accounts in your name.
5. You may also file a report with your local law enforcement.

Financial scams are becoming more advanced, but you don’t have to fall for them. By staying informed with these cybersecurity awareness tips and taking simple precautions, you can protect yourself from fraud.