An Open Letter from Century Bank: The growing threat of financial scams

By Kerrie Zubrod, 

Vice President, 

Century Bank of the Ozarks

Every week, sometimes every day, I sit across the desk from someone who says the same heartbreaking words: “I think I’ve been scammed.”

The faces are different. The stories are different. But the pattern is almost always the same.

Financial scams are increasing at an alarming rate. They are more sophisticated, more personal, and more aggressive than ever before. As someone who works in banking, I want our community to understand what these scams look like — and how to stop them before the damage is done.

Scammers are skilled at creating panic, excitement, or urgency. When emotions rise, caution falls. Here are some of the most common red flags we are seeing at banks right now:

Unexpected charges or urgent emails

You receive an email claiming your account will be charged a large amount for something you didn’t purchase. It urges you to click a link or respond immediately to “fix” the issue.

Tip: Don’t click the link. Contact the company directly using the phone number or website you look up yourself — not the ones listed in the email.

Urgency is their weapon.

“You’ve Won!” phone calls

You’re told you’ve won money, a car, or an incredible prize. There’s just one catch — you must first send money for taxes, fees, or shipping.

Let me say this clearly: Legitimate prizes do not require upfront payment. If you have to pay to receive it, it is not a prize.

Computer pop-up warnings

Your computer freezes. A loud pop-up claims your device has been infected and provides a phone number for “technical support.” They insist something harmful was downloaded.

Close your browser. Restart your computer. Do not call the number.

These “tech support” scams often end with victims granting remote access to their devices — and their financial accounts.

They tell you not to trust your bank

This one breaks my heart.

Scammers often say, “Your bank will ask too many questions,” or “Don’t tell anyone about this.” They may even coach you on what to say if a banker asks why you’re withdrawing money. This is a major red flag. Legitimate businesses never isolate you from trusted help. If someone tells you not to speak to your bank, that is precisely when you should.

Requests for personal or banking information

Be extremely cautious if someone who contacted you unexpectedly asks for:

• Social Security number

• Online banking login credentials

• Debit card number

• Account and routing numbers

Your bank will not call or email asking for your full password or secure login information. Never share this data unless you initiated the contact through a verified source.

Payment by gift cards

If someone tells you to buy gift cards — especially from multiple stores — and read the numbers off the back, it is a scam.

No government agency, no utility company, no legitimate business will ever demand payment in gift cards.

Fake checks or overpayment scams

These are increasingly common.

Someone sends you a cashier’s check and says they overpaid. They ask you to wire money back or pay a third party picking up an item.

Here’s what many people don’t realize: fake checks can look very real. Your bank may initially accept the deposit, but if the check later bounces, you are responsible for the funds.

By the time it’s discovered, the money you wired is long gone.

Emergency or family crisis scams

You receive a call from someone crying. They claim to be a relative who is sick, injured, arrested, or stranded in another country. They beg you to send money immediately through a wire transfer, Venmo, Cash App, or PayPal.

Hang up.

Call your family member directly using a number you already have saved. Do not rely on caller ID — it can be spoofed.

Romance scams: When ‘love’ becomes leverage

One of the fastest-growing and most financially devastating scams we are seeing is the romance scam.

It often begins innocently — a friend request on social media, a message through a dating site, or a kind comment that turns into daily conversation. The new online love interest quickly becomes attentive, affectionate, and intensely interested in your life.

They may “love bomb” you — overwhelming you with compliments, promises of a future together, and talk of commitment very early on.

Then comes the emergency.

They need money for:

• A sudden medical issue

• A business setback

• Military leave paperwork

• Travel expenses to finally come see you

• Fees to move to your area

They promise to repay you. They may even send fake documents, fake IDs, or staged photos to appear legitimate. Real love does not require wiring money to someone you have never met.

These scams are particularly devastating because they don’t just steal savings — they exploit trust and companionship. Victims often feel embarrassed, which prevents them from seeking help quickly. If an online relationship turns into financial requests, pause. Talk to your bank. Talk to a trusted friend or family member. An outside perspective can be powerful.

How scammers manipulate you

Scammers are not just thieves. They are emotional manipulators. They rely on:

• Fear (account problems, legal trouble)

• Urgency (“Act now!”)

• Empathy (family emergencies)

• Excitement (prizes, winnings)

• Intimidation (threatening calls)

If they can get you emotional, they can rush your decision-making. And once money is sent — especially through wire transfers, cryptocurrency, or gift cards — it is often impossible to recover.

What to do if you suspect a scam

If something feels wrong, trust that instinct.

• Stop all communication immediately.

• Do not send money or personal information.

• Contact your bank right away if you shared financial details.

As bankers, we are trained to watch for red flags. We ask questions not to interfere — but to protect. When we place a hold on a transaction or suggest waiting before sending money, it is because we have seen how these stories end.

Scammers succeed when good people feel embarrassed and stay silent. Please don’t.

Talk to your bank. Talk to your family. Share what you learn.

Fraud is rising — but awareness is stronger. And together, we can make our community a much harder target.