One of the latest fraud trends involves spoofed phone calls aimed at businesses who received Paycheck Protection Program (PPP) loans. Using publicly available information, the callers pretend to be from American Bank and Trust, hoping to trick you into sharing sensitive information.
This blog post will break down what’s happening and how to protect yourself
What’s Happening?
Fraudsters are using caller ID spoofing—a technique that makes their phone number appear as if it’s coming directly from American Bank and Trust. The caller will claim they need to “verify loan details,” “update your account,” or “confirm information.” Their goal is simple: gain access to your financial data.
These scams tend to sound convincing because the callers may reference real PPP loan terminology or information. Some even use high-pressure tactics, and push you to act immediately.
Red Flags to Watch For
- Requests for Sensitive Information: American Bank and Trust will never call and ask you for your full social security number or online credentials
- Urgent or Threatening Language
- Scammers often try to create panic. Phrases like “your loan will be revoked” or “your account will be frozen” are designed to push you into acting quickly.
- Scammers may also pose as the fraud department or law enforcement and request that you provide credentials to stop fraudulent transactions or in order to prevent a payment from being frozen
- Caller ID That Looks Real: Don’t rely on caller ID alone to verify legitimacy. Spoofing makes it easy for scammers to mimic a legitimate phone number- including one that may come from American Bank and Trust.
How to Protect Yourself
✔️ Hang Up and Call Back: If something feels off, end the call and contact your local branch
✔️ Never Share Login Credentials
✔️ Never Click Suspicious Links
✔️ Monitor Your Accounts: Regularly review your transactions and report anything suspicious immediately.
✔️ Educate Your Team: If you’re a business owner, make sure employees who handle financial information know how to spot these scams.
✔️ If you have questions or concerns about your loans or accounts—or want to verify a call you received—reach out to American Bank and Trust directly at your local branch. Staying informed is the best way to stay protected.
