Protecting your account starts with understanding how account takeover fraud occurs—and knowing what to watch for.
Fraudsters continue to use increasingly sophisticated tactics to gain access to personal and business accounts. These attempts often involve impersonating trusted sources and creating urgency to prompt action.
What Account Takeover Looks Like
Fraudsters don’t always present themselves the same way. In some cases, they may claim to be from a bank fraud department. In others, the message may appear as:
Fraudsters don’t always present themselves the same way. In some cases, they may claim to be from a bank fraud department. In others, the message may appear as:
- A payment alert
- A verification request
- A general security or account check
The common thread is urgency—encouraging you to share information quickly without time to verify.
How It Happens
Fraudsters may contact you by phone, text, or email and reference suspicious or unauthorized activity. They often sound professional and may use spoofed phone numbers or publicly available information to appear legitimate.
Fraudsters may contact you by phone, text, or email and reference suspicious or unauthorized activity. They often sound professional and may use spoofed phone numbers or publicly available information to appear legitimate.
The goal is to obtain login credentials or one‑time passcodes. If a one‑time passcode is shared, fraudsters can gain immediate access to online banking accounts, which may result in account takeover and unauthorized transactions.
How to Stay Safe
A few important reminders can help protect your account:
A few important reminders can help protect your account:
- Watermark Bank will never call or text to request account credentials, passwords, PINs, one‑time passcodes (OTP), or multifactor authentication codes.
- Caller ID, email addresses, and message formatting can be spoofed.
- Be cautious of messages that pressure you to act quickly or ask you to “confirm” activity.
If you receive an unexpected call, text, or message claiming to be from Watermark:
- Do not share any information
- End the interaction
- Contact us directly using verified contact information
Taking a moment to pause and verify can help prevent unauthorized access.
We’re Here to Help
If something doesn’t feel right or you have questions, please don’t hesitate to contact us at the phone number listed on our website or the back of your card when verifying account activity.
If something doesn’t feel right or you have questions, please don’t hesitate to contact us at the phone number listed on our website or the back of your card when verifying account activity.
Additional Resources
For more information on recognizing and avoiding scams, visit the Federal Trade Commission’s resource:
https://consumer.ftc.gov/articles/how-avoid-scam