Would You Know If a Fraudster Called Your Business
One local business received a call from someone who introduced himself as an FSB Treasury Support Analyst.
He sounded professional and confident, and he even referenced an exact dollar amount for a supposed transaction. What he didn’t have was proof.
This is how one Iowa business spotted a phone scam in progress and stopped it before sensitive information was shared.
Table of ContentsFraud Mitigation Services
Key Takeaways
1
Fraudsters impersonate real bank employees to gain trust.
2
Caller ID can be spoofed, making fake calls appear legitimate.
3
Never share account or login details over the phone unless you initiated the call.
4
Always verify caller identity through a number listed on official bank materials.
5
Stay calm, ask questions, and hang up if anything feels wrong.
How the Scam Began
Fraudsters understand that confidence and familiarity are powerful tools. They study legitimate business patterns and then use those details to sound credible.
The Scammer's Approach
The business owner received a call from a man who identified himself as "Albert" and claimed to work in FSB's Treasury Support Department. He explained that a pre-authorized payment for $39,569.23 was pending under the company's account for a business called "Great Canadian Landscaping."
The caller spoke clearly, used banking terminology, and referenced a specific transaction amount to sound believable. He claimed he needed to verify the company's details before approving the payment.
Questions That Raised Suspicion
The employee asked for more information, including the last three digits of the account number and the Treasury Manager's name. The caller hesitated, avoided the questions, and instead repeated his own name and title.
When asked for a number to call back, the caller declined, saying he could only be reached through that line. That response made the business immediately suspicious.
How the Fraud Was Prevented
Phone scams work by building urgency, but the employee stayed calm and recognized the signs of manipulation.
Verifying the Caller
The employee ended the call politely and immediately contacted their local FSB branch using the phone number on file.
FSB confirmed that no transaction existed and that no employee named "Albert" worked in Treasury Support.
This quick action stopped the scam from progressing further. No account information was shared, and no access was granted.
Why These Scams Work
Voice phishing (vishing) has become more convincing as criminals gain access to public data.
They use company names, employee titles, and even spoofed caller IDs to appear legitimate.
Some even use artificial voice cloning to sound professional.
Because many businesses handle transactions by phone, these calls feel routine and rarely raise concern until something doesn't add up.
What This Scam Reveals
Phone scams are evolving. They are no longer limited to robotic messages or generic threats.
They now mimic real financial processes and use names customers recognize.
How Caller ID Spoofing Works
Criminals use software to mask their real number and replace it with a local or trusted number.
This makes it appear as though the call is coming directly from the bank. The caller’s voice and tone do the rest of the convincing.
For businesses, this type of fraud is hazardous because financial staff are used to getting legitimate calls from their bank.
Red Flags to Watch
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The caller refuses to share a callback number
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The caller pressures you to act immediately
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The caller asks for login credentials or account details
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The caller cannot confirm the name of your relationship manager
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The call references a large or unusual transaction
When even one of these signs appears, end the call and verify it directly with FSB.
Why Verification Works
Fraudsters rely on hesitation. When a business takes time to confirm a call, the scam loses power. Contacting your bank through a known number ensures that you are speaking with a real employee, not a criminal impersonator.
That one verification step is what saved this business from becoming a victim.
How FSB Protects Customers from Phone Scams
Fraud prevention at FSB focuses on education, awareness, and verification. Our internal teams work directly with clients to build habits that keep their accounts secure.
How FSB Responded
After confirming the call was fraudulent, FSB documented the incident and notified other business customers about the attempted scam.
We used this case as a reminder that verification should always come before action.
Bank Procedures for Verification
FSB never calls to ask for full account numbers, passwords, or security codes.
If we reach out, we encourage customers to hang up and call their branch directly using the number on official materials.
Our internal systems also flag unusual transactions and require secondary review before funds are released. These layers protect customers even if a scammer gains partial information.
How Businesses Can Protect Themselves
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Keep a current list of verified FSB contacts
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Share fraud awareness updates with employees who handle transactions
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Train staff to verify any unexpected call before giving details
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Document all suspicious calls and report them to the bank immediately
FSB's Ongoing Commitment
Education is central to FSB's fraud prevention program. Our local teams share real examples like this one during Fraud Awareness Week to help business owners recognize the tactics criminals use every day.
That focus on awareness builds stronger habits that protect both businesses and their employees year-round.
Stop Fraud Before It Starts
If you ever receive a call about a transaction you don't recognize, stop and verify before you act. Call FSB at (319) 377-4891 or find the closest branch near you online.
Want stronger protection? Reach out to FSB's Treasury Management team to learn about Positive Pay, ACH filters, and more!
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