National Internet Safety Month: Bank 'Spoofing' Scams Surging with Growing Sophistication, and How Old National Protects Customers
Banking “spoofing” scams are escalating across the U.S. as criminals increasingly impersonate trusted financial institutions to steal money and sensitive information via internet contact or on the phone. As June celebrates National Internet Safety Month, we take a closer look at these impersonation scams and how to protect yourself and your loved ones.
The spoofing fraud relies on caller‑ID or email manipulation and psychological pressure, allowing scammers to convincingly pose as legitimate bank representatives. The FBI recently warned that scammers now routinely display the victim’s actual bank phone number or email, creating a false sense of security before criminals demand urgent action.
Urgency is a red flag
Experts say urgency is the key weapon for the fraudsters.
“These scams work because they rush victims into decisions before they have time to think or verify,” an FBI spokesperson told USA Today, noting that criminals often instruct victims to move money into “secure” accounts controlled by fraudsters.
Recent cases reported by USA Today and AOL detail losses ranging from several thousand dollars to more than $40,000 after customers followed instructions from callers who sounded credible and well‑informed.
Banking and fraud‑prevention experts say spoofing has evolved beyond simple deception.
“The ‘Urgent Action Required’ phone call or email is always an opportunity to pause, verify the content, and ask more questions,” says Kevin Novak, Chief Information Security Officer at Old National Bank. “Even though they can be ‘spoofed’ or impersonated, check the phone number or email address, and call or email the sender back directly using known contact info.”
These imposters will make requests your actual bank would never make, such as asking for one‑time passcodes or urging customers to transfer funds themselves. Legitimate banks already have verification systems and do not need customers to share passwords or PINs over the phone.
Consumers lost billions to fraud
The Federal Trade Commission reports consumers lost more than $12.5 billion to fraud in 2025, with imposter scams, many involving bank spoofing, among the largest categories of loss. The FBI’s Internet Crime Complaint Center also lists phishing and spoofing (both attempting to steal information) as the most reported cybercrimes nationwide.
Experts consistently advise consumers to stop, hang up and independently verify.
“Banks will never ask you to move money or provide login credentials during unsolicited contact,” the FBI reiterates.
At Old National Bank, protecting customers means pairing vigilant fraud‑monitoring technology with customer education and clear security protocols. By encouraging independent verification, issuing proactive alerts and rapidly responding to suspicious activity, Old National Bank helps safeguard customer finances and reinforces trust in an era of increasingly sophisticated spoofing scams. To learn more, go to oldnational.com/security/fraud-prevention.
