Protect Your Business from Imposter Fraud During Times of Change

Published on October 1, 2026 | 4 min read | Webster Bank

Fraudsters are constantly looking for new ways to make their requests seem legitimate. For businesses, that can mean an email that appears to come from a trusted vendor, a phone call from someone claiming to represent your bank or a message that looks like it came from a company executive.

Periods of change can create additional opportunities for these scams to succeed. When organizations are navigating new processes, shifting responsibilities, updating systems or other transitions, employees may be receiving unfamiliar communications or adjusting to new ways of working. Fraudsters can take advantage of that uncertainty by using timely information to make a fraudulent request seem routine or expected.

That makes vigilance especially important. Knowing what to look for, maintaining consistent verification procedures and taking a few moments to confirm an unexpected request can help protect your business, your accounts and your information.

How Imposter Fraud Works

Imposter fraud occurs when a criminal pretends to be a person or organization you trust in an attempt to obtain money, account access or sensitive information.

For businesses, an imposter may pose as:

• A bank representative or fraud specialist
• A company executive or colleague
• A vendor or supplier
• A government agency
• A technology or security provider

These scams can arrive by phone, email or text and may look surprisingly authentic. Fraudsters can spoof phone numbers, imitate familiar email formats and use information about your company, industry or current events to make their requests more believable.

During times of change, they may also reference new processes, personnel, systems or other circumstances that make an unfamiliar request seem plausible.

The request often comes with a sense of urgency: an account needs immediate attention, a payment must be rerouted, credentials need to be verified or funds need to be transferred right away. That urgency is a red flag.

Know What Your Financial Institution Will Never Ask You to Share

A legitimate financial institution will not call, text or email you asking you to provide sensitive information such as your online banking password or bank-issued verification code.

If someone contacts you claiming to represent your bank and asks for this information, do not provide it, even if the communication appears legitimate.

Instead, end the conversation and contact your financial institution using a phone number or communication channel you already know and trust.

Watch for Common Warning Signs

Imposter scams can take many forms, but there are several warning signs your team should know.

Be cautious if someone:

• Pressures you to act immediately or discourages you from verifying the request.
• Asks for passwords, verification codes or other login credentials.
• Requests an unexpected wire, ACH payment or change to payment instructions.
• Provides new banking information for a familiar vendor without prior notice.
• Asks you to move money to a new or “safe” account.
• Contacts you from an unfamiliar email address, phone number or domain.
• Claims an account will be frozen, closed or compromised unless you act immediately.

Changes in normal business operations shouldn’t mean changes in your standards for verification. Even when a request appears to come from someone you know—or seems reasonable given a current transition—verify unusual financial instructions through a separate, trusted communication channel.

Build Verification Into Your Business

Strong processes can help prevent a convincing message from becoming a costly mistake, particularly when other parts of the business are changing.

Establish procedures for independently verifying changes to payment instructions, wire requests and other sensitive transactions. Consider requiring approval from more than one employee for significant transactions and limit access to banking information based on each employee’s responsibilities.

During periods of transition, it can also be helpful to remind employees that established security and approval procedures remain in place. If responsibilities or processes do change, make sure those updates are clearly communicated so employees know what to expect and where to go with questions.

Employees should know that it is always appropriate to question an unusual request. A quick phone call using a known number can be one of the most effective ways to identify an attempted scam.

Additional safeguards, including multi-factor authentication, account alerts, regular reviews of account activity and ongoing employee fraud education, can add important layers of protection.

When in Doubt, Verify

Fraudsters rely on urgency, familiarity and trust. Times of change can give them another advantage: uncertainty.

Your best defense is to slow the process down.

If you receive an unexpected communication claiming to be from your financial institution, don’t use the contact information or links provided in the message. Instead, contact your bank directly using a verified phone number or communication channel to confirm the request.

If you suspect fraudulent activity involving your business accounts, contact your financial institution immediately.

Change is a normal part of doing business. It doesn’t have to create an opening for fraud. Staying vigilant, educating employees and maintaining strong verification procedures can help your organization recognize imposter fraud before it causes harm.

If you ever receive a suspicious message or request related to your Webster business account, contact your Webster Relationship Manager, or call our Client Contact Center at 800.482.2220 immediately. We’re here to help you keep your operations secure.