As it’s officially 2025, scammers are already devising new ways to target unsuspecting victims. At Sun Canyon Bank, we're committed to helping you stay one step ahead of these fraudsters. Let’s take a look at some of the most common scams to watch out for in 2025 and provide you with the knowledge to protect your hard-earned money.

1. The Fake Investigation Scam

Scammers may call and identify themselves as bank, Apple (or similar service company such as PayPal), or law enforcement representatives. They claim that the bank is engaged in fraud, there is fraud on your account, or that they accidentally completed a transfer that went into your account an incorrect amount. Be cautious of calls, texts, or emails that:

  • Create a sense of urgency, claiming your account has been compromised
  • Ask you to withdraw cash from your account, put money into a bitcoin machine, send cash or payment of any kind via mail or electronic means
  • Ask you to lie to bank employees concerning why you are requesting cash or a wire
  • Ask you to click on suspicious links or download attachments
  • Request personal information or login credentials

Verbiage to Watch Out For:

  • "We received notification that there is fraud on your account. Please remain on the line and we will provide further instruction on how to resolve this.”
  • "We accidently transferred an incorrect amount into your account. Please wire the funds back to _____ as soon as possible.”

2. Phishing Scams

Scammers use phishing emails, texts, or calls to trick you into revealing sensitive information like passwords, credit card numbers, or social security numbers. Be cautious of messages that:

  • Create a sense of urgency, claiming your account will be closed or compromised if you do not act immediately
  • Ask you to click on suspicious links or download attachments
  • Request personal information or login credentials

Verbiage to Watch Out For:

  • "Your account has been compromised. Click here to reset your password."
  • "We need to verify your information to prevent fraud. Please enter your social security number."

3. Health Insurance Scams

Every citizen who is 65 years or older qualifies for Medicare benefits, making seniors an easy target for medical-related scams. Scammers often pose as Medicare representatives and:

  • Tell a senior that they need a new Medicare card and request a social security number to issue one
  • Ask for a fee to help navigate the new Obamacare landscape
  • Claim that new supplemental policies are needed
  • Gather personal information to bill Medicare and take the money for themselves

Verbiage to Watch Out For:

  • “You need a new Medicare card. Please provide your social security number.”
  • “To help you navigate the new Obamacare landscape, we need a small fee.”
  • “You need new supplemental policies. Please provide your personal information.”

4. Investment Scams

Scammers promise unusually high returns on investments, often with a sense of urgency to invest quickly. Be wary of:

  • Unsolicited investment opportunities
  • Guaranteed high returns with little or no risk
  • Pressure to invest immediately

Verbiage to Watch Out For:

  • "This investment opportunity is only available for a limited time. Act now to secure your spot."
  • "Our investment strategy guarantees a 20% return per month with zero risk."

5. Romance Scams

Scammers create fake online profiles, often using stolen photos and personal information, to build a romantic connection with their victims. Once trust is established, they will ask for money or personal information. Be cautious of:

  • Profiles with minimal information or inconsistent stories
  • Requests for money or gifts, especially early in the relationship
  • Avoidance of video calls or in-person meetings

Verbiage to Watch Out For:

  • "I need your help to pay for a medical emergency. Can you send me $1,000?"
  • "I'm a soldier stationed overseas and need your help to get back to the States. Can you send me money for a plane ticket?"

6. Tech Support Scams

Scammers pose as tech support representatives, claiming your device is infected with malware or viruses. They will ask for remote access to your computer or payment for fake services. Be wary of:

  • Unsolicited calls or pop-ups claiming your device is infected
  • Requests for remote access to your computer or payment for services
  • Threats to delete your data or shut down your device if you don't comply

Verbiage to Watch Out For:

  • "Your computer is infected with a virus. Let me remote in to fix it for you."
  • "We need to update your software to prevent a security breach. Pay us $200 to fix the issue."

7. Grandparent Scams

This scam usually involves a perpetrator calling or emailing seniors pretending to be a family member in trouble or an authoritative person representing the relative (a lawyer, for example). The “relative” then asks for money to be wired to pay rent, lawyer fees, medical bills, or some other fake expense. The victim is often asked not to tell anyone, as the caller wants to keep the problem from being known. Be cautious of:

  • Calls or emails from someone claiming to be a family member in trouble
  • Requests for money to be wired for rent, lawyer fees, medical bills, or other fake expenses
  • Urgent pleas to keep the problem a secret from other family members
  • Online interactions with someone who quickly builds trust and asks for money

Verbiage to Watch Out For:

  • “Grandma, it is me. I am in trouble and need money for bail. Please do not tell my mom and dad.”
  • “I am a lawyer representing your grandson. He needs money for medical bills. Can you wire it immediately?”

Protect Your Money With Sun Canyon Bank

Remember, staying informed is key to avoiding scams. By being aware of these common scams and verbiage, you can protect your money and avoid falling victim to fraudsters. Stay vigilant, and together, we can work to build a safer financial community.

Additional Resources

Keep reading to learn more about how to protect yourself online: