Security Center
Stay Alert: Protect Yourself from Bank Text Scams
Text messaging is a fast and convenient way to stay connected, which is why it has become a favorite tool for communication—not just for consumers, but unfortunately, for scammers too. In fact, according to the Federal Trade Commission (FTC), text scams led to $330 million in reported losses in 2022 alone.
At Machias Savings Bank, we’re committed to helping you protect your hard-earned money. Understanding how these scams work and how to spot them can make all the difference in keeping your finances safe.
How Do Bank Text Scams Work?
Fraudsters often send text messages that appear to be from a legitimate financial institution, claiming:
• An unauthorized transaction has been made on your account.
• Your account has been locked or compromised.
• You need to verify a recent purchase.
These messages are designed to create panic and urgency, pushing you to click a link or respond immediately. Once you do, scammers may steal your personal information or install malware on your device.
Will Machias Savings Bank Contact You by Text?
Yes! Machias Savings Bank may use text messaging to send:
• Security alerts to help verify your identity.
• Account notifications such as balance updates or payment reminders.
• Marketing messages about special offers and services (only if you’ve opted in).
However, we will never ask you to share personal information, passwords, or verification codes via text. If you receive a suspicious message claiming to be from us, do not respond—contact us directly.
Watch Out for Spoofing Scams
Scammers use “spoofing” to make messages look like they’re coming from a legitimate bank number. To stay safe:
What Should You Do If You Receive a Scam Text?
1. Do not reply. Even responding with “STOP” can signal scammers that your number is active.
2. Delete the message immediately.
3. Contact us directly at a trusted number if you’re unsure about a text.
4. Report fraudulent texts to the FTC at reportfraud.ftc.gov.
We’re here to help you reach your goals and protect your financial future. If you ever have concerns about a text message claiming to be from us, don’t hesitate to reach out. Your security is our priority!