Protecting Yourself from Banking Fraud

For individuals and business owners alike, across Paramus and the surrounding area, these threats hit differently. Commercial accounts typically hold more money, you're moving funds more frequently, so you may have more scrutiny there  — but, really fraudsters are ready to exploit any opportunity, regardless of the amount of money involved.

Recognize the Signs of Fraud

Fraud attempts can come through just about every channel you can think of. Email, text, phone calls, even social media messages that look completely legitimate at first glance.

Here's what they're typically after:

• Getting you to send or receive international wire transfers for someone else, always providing a "good reason”

• Dangling employment opportunities, investments, or inheritances that sound incredible because they are

• Impersonating banks, government agencies, or other institutions with urgent payment demands

• Asking for personal or financial information out of the blue

If something feels off, especially when it involves moving money internationally, trust your instincts. Don't click anything, don't respond, don't share information.

How Your Bank Account Gets Targeted

Businesses face bigger risks with fraud. Commercial lending clients and companies managing real estate loans deal with substantial transactions regularly. Fraudsters know this. They've studied it.

But whereas business accounts have larger risk, personal bank accounts are more numerous and far more prone to getting targeted way more often.

Invoice manipulation has become huge. Scammers pose as vendors or suppliers, sending invoices with "updated" payment details. Real estate deals are particularly vulnerable because the dollar amounts are large and the timelines are tight. Fraudsters intercept communications during property closings and redirect six-figure wire transfers meant for legitimate real estate loans.

Business Email Compromise sounds technical, but it's straightforward. Criminals hack into executive email accounts (or create convincing fakes) and send wire transfer requests to you. The emails look legitimate. The urgency feels real. And billions of dollars have been lost to these schemes nationally.

Vendor impersonation works because fraudsters research your actual business relationships first. They know who you work with, then show up claiming payment methods have changed or requesting emergency transfers.

Here's where being a community bank actually matters. Unlike the mega-banks where you're account number 47291846, we know your business. Your banker recognizes your patterns. When something looks wrong, we can pick up the phone and verify that with you before money moves. That's the difference relationship banking makes.

How We're Protecting You

We've invested in security systems and fraud detection technology. But we've also maintained something bigger banks have lost—the ability to know you personally. Your banking relationship includes direct access to experienced banking leaders who understand your needs and can act quickly when something is not right.  

Five Rivers Bank actively monitors unusual or suspicious transactions activity. While we work diligently to protect your accounts, maintaining security is a shared responsibility. Our local lending authority means your banker actually knows what normal looks like for your operation. Anomalies stand out faster when there's real familiarity involved.

Security works both ways, though. We need you to be engaged too.

How You Can Protect Yourself

A few basic pointers and a bit of vigilance makes all the difference:

• Never share personal banking information, account numbers, or verification codes with anyone.

• Verify the legitimacy of any request before sending funds or providing details.

• Be cautious of urgent demands for payment or secrecy.

• Regularly review your statements and activity.

And if you see something questionable or suspicious, report that activity immediately to your banker or by contacting Five Rivers Bank at (201) 556-9000.

Stay Informed

We encourage all customers to stay current on common fraud tactics and prevention strategies. You can find helpful resources at:

• Federal Trade Commission – Consumer Protection: www.ftc.gov

• FBI Internet Crime Complaint Center (IC3): www.ic3.gov

• FDIC Consumer Education: www.fdic.gov/resources/consumers/

We're In This Together

Vigilance works when we're both paying attention. That's what relationship banking actually means. We're not just processing your transactions but partnering with you to protect what you've built. By staying vigilant and working together, we can help safeguard your financial future and protect your accounts from fraud threats.

At Five Rivers Bank, you have direct access to experienced professionals who understand your needs and are prepared to act when it matters. You're not navigating fraud prevention alone-we're here to support you.

‍