A new wave of fraud is targeting business customers, with scammers impersonating bank fraud personnel in an attempt to gain access to online accounts. These bad actors are contacting businesses and falsely claiming to be from the bank’s Fraud Department, often introducing themselves as “Josh.”
How the Scam Works
The caller tells the business customer that someone attempted to cash a fraudulent check — typically around $23,000 — at a local branch. They frequently say the check was made payable to “David Schwartz.” The intent is to create urgency and alarm, prompting the customer to act quickly.
From there, the fraudster attempts to persuade the customer to provide their online banking credentials, which would allow them to take over the account and initiate unauthorized transactions.
Confirmed Fraud Activity
This scam is not isolated. First United Bank & Trust Fraud Officer Eric Goff has connected with local law enforcement, and other financial institutions are reporting identical scenarios using the same names and tactics. This indicates a broader, coordinated effort targeting businesses across the region.
While Goff confirmed that the names used for the “Fraud Officer” and the check payee have been consistent in many cases, fraudsters frequently evolve their tactics. They may use different names or details in future attempts to appear credible.
“For this reason, First United Bank & Trust encourages all customers to treat any unsolicited call requesting sensitive information as suspicious and to independently verify that the call is legitimate before taking any action,” Goff said.
How to Protect Your Business
- Do not share your online banking credentials with anyone, regardless of who they claim to be.
- Stay cautious of unsolicited calls that create urgency or request sensitive information.
- Verify independently by contacting your bank using a trusted phone number.
- Report suspicious activity immediately to help prevent fraud.
Our Commitment to Your Security
First United Bank & Trust is dedicated to your safety and security. We encourage you to stay informed and vigilant.
For more information on protecting yourself against fraud, visit MyBank.com/security. If you have any concerns or believe you may have been targeted, please contact us immediately at 1-888-692-2654.
Working together, we can help protect your business and keep your accounts secure.
First United Corporation operates one full-service commercial bank, First United Bank & Trust. The Bank has a network of community offices in Garrett, Allegany, Washington, and Frederick counties in Maryland, as well as Mineral, Berkeley, and Monongalia counties in West Virginia. First United’s website can be located at MyBank.com. As of 3/31/2026, the corporation posted assets of $2 billion.