How Vantage Bank is fighting modern financial fraud — and what customers can do to protect themselves

Editor’s note: This article is sponsored content provided by Vantage Bank. It was not produced by the Rio Grande Valley Business Journal editorial staff.

Financial fraud looks nothing like it did a decade ago. Criminals targeting your accounts have moved well beyond password guessing. Today’s schemes rely on stolen credentials, social engineering, and artificial intelligence. Understanding how scammers work and how Vantage Bank fights back is the best way to protect your funds.

Today’s attackers steal credentials outright, hijack the chains of trust linking your accounts, and impersonate trusted organizations to move money undetected. A strong password alone no longer keeps you safe when a criminal already has your login details, or knows enough about you to pose as you convincingly.

Nathan Abbott, SVP and Chief Information Security Officer at Vantage Bank, puts it directly:

“Fraud today isn’t about guessing a password—it’s about stealing weak credentials, hijacking weak credential chains and impersonating the customer. That’s why Vantage invests in context-aware authentication through our partner Entersekt, which verifies both the person and the transaction in real time. It lets us stop sophisticated attacks in the background while keeping banking simple for the people we serve.”

Several tactics have become especially common.

Impersonation scams

Criminals pose as bank representatives, fraud departments, or government agencies via phone, text, or email. They may spoof caller IDs to mimic official channels, introduce themselves by name, and reference convincing account details to build trust. The goal is always the same: create urgency, extract sensitive information, and move funds before anyone notices.

Call forwarding scams

In this scheme, a scammer claims to represent a bank or fraud team, creates a sense of urgency, and instructs you to dial a star code such as *72 or *21 followed by a number they control. Doing so activates call forwarding, redirecting your incoming calls, including one-time passcodes and security callbacks, directly to the fraudster. From there, they can reset passwords, intercept verification codes, or impersonate you during account access. Never activate call forwarding, dial star codes, or share a one-time passcode over the phone.

Business email compromise and phishing

Fraudsters impersonate vendors or executives to request urgent wire transfers or payment changes, often using lookalike email addresses or spoofed domains.

AI-powered deepfakes

Generative AI now lets criminals clone voices, forge documents, and bypass identity checks with convincing fake video.

The common thread is deception. Modern fraud succeeds not by breaking technology, but by exploiting trust.

Diana Alfaro, Core Services and Fraud Director at Vantage Bank, explains:

“The costliest scams don’t break in—they talk their way in. According to a recent FCC consumer alert, bank impersonation scams account for the highest losses of any impersonation scam category, succeeding through urgency rather than technology. Creating customer awareness and reinforcing the authentication controls working behind the scenes is crucial. Our ongoing Pause. Verify. Protect Yourself. campaign encourages simple practices for any unexpected call or message. And our team is always here to assist when you reach out.”

How Vantage Bank Protects You

We invest in the technology that provides the strongest protection with context-aware, real-time authentication working quietly in the background. Rather than relying on a single login checkpoint, this approach evaluates hundreds of signals at once: Where is the request coming from? Is the device recognized? Does this transaction match normal patterns? When a payment spikes in size, heads to an unknown recipient, or originates from an unfamiliar location, the system flags it, even when the login looks valid. Sophisticated attacks get blocked before they cause harm.

Beyond investing in state-of-the-art technology, we educate our customers on their role in fighting fraud. Pause. Verify. Protect yourself.

If a call feels suspicious, hang up and call the bank directly at a number you know. Don’t click links in suspicious messages. Never dial star codes or change phone settings at the direction of an unsolicited caller. If you think call forwarding may have been activated, contact your mobile carrier immediately. Always log in through the official bank website or mobile app and enable multifactor authentication where available.

Businesses should enable dual controls for payment approvals and use ACH blocks, filters, or Positive Pay to block unauthorized transactions. Train employees to recognize scams and report suspicious messages right away.

If you suspect a scam, don’t respond, report it immediately to us, and monitor your accounts for unauthorized activity. You can also file a report with the FTC at reportfraud.ftc.gov or businesses can report to IC3.gov. If funds were lost or private information may have been compromised, file a police report as well.

The most effective defense against modern fraud pairs real-time authentication technology with customer education and vigilance. At Vantage Bank we use both these techniques to partner with you to protect your financial future and stay prepared for what’s possible.