Top Tips and Steps to Avoid Financial Scams in 2026

You can’t turn the news on without hearing about another financial scam on the rise, and it seems like it is getting worse. In 2024, an estimated $12.5 billion was lost in financial scams and fraud, with up to 85% not reporting incident due to embarrassment. But you don’t need to become a statistic in 2026.

First Exchange Bank is here to give you the steps you can take now to protect your personal and financial information, the trending scams for 2026, and in-depth blogs to give you the tools and knowledge to keep your money safe.

For more than 94 years, First Exchange Bank has been serving the residents of White Hall, Mannington, Fairmont, Morgantown, Hundred, and Fairview. With the latest security technology and 24/7 Fraud Protection services, First Exchange Bank is a trusted financial partner.

Protect Your Information Now

Before we cover trending financial scams for 2026, let’s take a look at some steps you can do right now to protect your information. Use this as a checklist to keep on top of your security.

Use Multi-Factor Authentication (MFA): MFA uses two levels of authentication such as unique one-time codes when accessing accounts
Create Strong and Unique Passwords: Always create unique passwords and never use for across multiple accounts. Use tools like Google Password Manager to create and store passwords.
Always Use Secure Wi-Fi: Make sure any public Wi-Fi you connect to has a password or consider installing a VPN for extra security
Monitor Accounts: Make it a habit to check your accounts on a regular basis to look for any unusual transactions, and immediate report discrepancies to your bank
Software Updates: regularly install any software updates on laptop and phone that often include enhancements to security features

By taking these steps now you will be one move ahead of scammers in protection your information.

Always Verify

The biggest advice you need to follow is no matter what never make a payment or provide personal information from unsolicited offers or demands. Even if you think it might be your bank or a business you know, always verify it is from a trusted source.

Common Signs of Financial Scams

While there are many types of financial scams, they do have common traits to look for. Look for any of these tell-tell signs when you receive unsolicited calls, emails, or texts:

Urgency demand for payment or personal information related to a ‘crime’ or missed payment to avoid account closures
Unknown number or email address particularly if it appears international, or website address does not start with http://
Impersonation of a legal representative such as police, IRS, or even your bank
Offers that feel too good to be true

Always use common sense when you receive any unsolicited call or offer. Sometime pausing before taking any action can be the best way to avoid falling for a scam.

Steps to Take If You Accidentally Fall For a Scam

It can happen to the best of us. You accidentally fall for a scam and provided a payment or personal information. Before you panic, take these steps to prevent any further financial impact.

Contact your bank to report incident and place a dispute on the transaction
Freeze all of your credit reports
Change all of your passwords using a password tool on your browser to create strong and unique ones
Report the incident to the Federal Trade Commission or the FBI Internet Crime Complaint Center

Top Financial Scams for 2026

The best indicator for financial scams in 2026 is to look at the past. These were some of the most common and emerging scams in 2025 that are sure to escalate for coming years. The Pew Research Center published a more comprehensive report on major financial crimes, so it’s recommended to read it later.

Deepfake AI-Generated Phone Call and Text Messages: Often include personal information and pose as a relative or close friend in distress asking for money or payment via a 3-party app or gift cards. Phone calls can sometimes be tricky to spot because AI is getting better at mimicking the human voice.
Fake QR Codes: The global pandemic made the once forgotten QR Code popular again, and scammers are finding ways to steal your information using fake ones. A fake QR Code sticker is placed over the real one in public places like outdoor shops, flyers, gas stations, anywhere a QR Code is used for quick payments. Always visually check to ensure there are no odd boarders to the code and only use at trusted and know establishments.
Fake Payment Apps Refunds: More of us are using various payment apps for purchases, making this scam easy to fall for. Scammers pose as a legitimate business and state you have a refund or accidental payment and need to make a small payment or provide banking information. Always remember a legit business will never ask for a small payment for a refund.
Crypto and Investment Scams: Online investments have become more popular for people to diversify their financial portfolio and so have scams. Crypto and Investment Scams work by offering an amazing opportunity to double your investment or get on the inside track to an investment. Many times, scammers use fake celebrity endorsements to make it seem legitimate to trick people into thinking it’s real. Remember: if it’s too good to be true it probably is.
Subscription Renewals and Auto-Pay Traps: While technically not illegal, subscription renewals and auto-pay traps are one of the leading money wasters. Always read the fine print when downloading new subscription-based apps to understand how you can cancel and use services to give you a consolidated view of how many apps you subscribe to. Don’t let that money go to waste!

Knowledge is Power

Keeping up on the latest tips to protect your personal information and finances is key to keeping you safe, and First Exchange Bank has a dedicated blog and news section covering a wide range of topics. Here are some great blogs that can further deepen your knowledge to protect your hard-earned money.

First Exchange Bank is committed to being a trusted partner to their customers, just another way we stand apart.

Open an Account with First Exchange Bank

Now that you’ve armed yourself with the knowledge you need to protect yourself against scammers, take the next step and open an account with First Exchange Bank. From personal checking and savings, businesses solutions, and wealth management, First Exchange Bank empowers the residents of White Hall, Mannington, Fairmont, Morgantown, Hundred, and Fairview to achieve their financial dreams.

Start your journey online or visit one of our locations and see how more than 94 years of experience can work for your finances.