Lakeside Bank

FRAUD! Consumer Perspective – January 2023

Sadly, FRAUD continues. Lately, challenges have increased; we’ve seen upticks in fraud attempts.

The following reviews the latest in Fraud, Scams and Identify Theft. We hope you find it useful. Please feel free to contact your Lakeside Banker for more information or if we can answer questions.

The most important warning we can offer: Be Alert! Fraud and scams can be stopped with AWARENESS and following the right PROCEDURES.

The first and last rule is simple: Protect Your Personal Information. If the bad guys get your private information, they can wreak havoc on your savings, daily finances and good name. But if you don’t let them in … they can’t get in!

Don’t click on emails you don’t know! Don’t share your name, address, social security number, date of birth, credit card numbers, PIN’s (for ATM’s, debit and credit cards), FSA ID’s, passwords, financial statements … with any unsolicited requests!

Other ways thieves attempt to steal your identity include:

  • Phishing – Email attempts to engage you. Read emails carefully; scammers will take familiar looking addresses and misspell them or add characters. Or the domain may be different. Be sure to practice ‘safe computing’ by installing firewalls, anti-spyware and anti-virus software on your computer. And when you buy something online, make sure you’re on a secure site.
  • New scams related to the virus – Emails, texts or phone calls to purchase suspicious products, ‘treatments’, medical advice or even ‘cures’. Or they may want donations to a charity. Or have an urgent request to help a relative.
  • There are scams targeting Social Security payments! Thieves may attempt to convince you personal information is needed to continue payments. Wrong! Remember that first rule: Don’t give up your personal information.


Scams can get pretty imaginative. Don’t give up your information! And always validate an organization you don’t know.

  • Skimming also continues. This is where a device is placed over an ATM pad or retail store card entry. If a machine looks odd … don’t use it. Also, don’t let anyone observe you using a key pad.
  • Old Fashioned Theft. Stealing your mail … or going through your garbage … means they’re attempting to change your address & re-direct mail. This still goes on. If you don’t save your bills or financial correspondence, be sure to shred.


There are other suspicious activities to watch out for, too!

  • Bills that don’t arrive. Or bills for products / services you didn’t order.
  • Unexpected credit card or account statements.
  • Denials of credit for no obvious reason.
  • Calls or letters about purchases you didn’t make.
  • Unusual transactions on credit or bank statements.
  • Unfamiliar accounts on your credit report.
  • A health plan rejection because you’ve supposedly reached a benefit limit … when you haven’t.
  • Notification from the IRS that more than one tax return was filed in your name … or income was reported from an employer you don’t even know!
  • Speaking of the IRS, if you get a phone call from them … it ISN’T the IRS! By law, they must contact you by mail.
  • A data breach notice from a business where you do have an account.


Lakeside Bank can help! We have multiple systems designed to protect you:

  1. We work hard to spot check fraud, scanning accounts for unusual activities. While we won’t find everything, we saved clients over $1,100,000 last year alone by catching fraud attempts.
  2. Sign up for our electronic banking to eliminate paper and potential theft.
  3. Pay bills online. Again, less paper and less opportunity for fraud.
  4. Control your Lakeside debit card right from your phone or computer. Our new “Cash Control” solution will be available shortly!
  5. Multi-factor Authentication adds a second layer of protection. A one-time code is sent via text, email or phone … your choice.


Please also remember you’re entitled to a free annual Credit Report from the three rating services. Take advantage and check your credit. If there have been unexpected changes, request explanations. This is your right.

What should you do if you suspect fraud or identity theft?

  • Call us if it’s related to your Lakeside Bank accounts or credit / debit cards.
  • Report ID theft to the Federal Trade Commission: www.ftc.gov
  • And to the Illinois Attorney General: www.illinoisattorneygeneral.gov