That’s why Heartland Bank recently teamed up with Rural Radio Network's Surviving the Family Farm podcast to talk about a growing threat facing farmers, older adults and rural families: fraud and scams.
Shannon Drudik, Vice President and Compliance Officer, and Corey Swartzendruber, Senior Vice President and IT Director, joined the podcast to discuss some of the scams they’re seeing, the red flags to watch for and simple steps families can take to better protect themselves.
Farm equipment is expensive...which makes a great deal hard to pass up. Unfortunately, scammers know that, too.
With artificial intelligence and other technology, fraudsters can create convincing websites, photos, invoices and communications advertising equipment that may not even exist.
“One of the red flags to look for with equipment sales is, is it too good to be true?” Drudik said.
Before sending money, especially through a wire transfer, take a closer look at where the payment is going. Does the recipient’s name match the dealership? Is there a clear connection between the person receiving the money and the business you're supposedly purchasing from?
Scammers may also use distance to their advantage.
“What happens is you wire the money and you drive 500 miles to the south, only to find an empty parking lot and nobody to be reached or contacted, and you already sent that money,” Drudik said.
Heartland Bank has seen situations where a customer found what appeared to be a legitimate equipment dealership online. The website looked convincing. The photos looked real. There was even a phone number. But further investigation revealed the actual business had closed years earlier.
Before sending money for equipment you haven't seen in person, verify the seller independently. Call the local chamber of commerce, post office or a neighboring business. You can also ask the seller to join a live video call and walk around the equipment so you can see that it physically exists.
“If it’s actually there, they should be able to do that,” Drudik said. “And if they’re not willing to, I’d be asking why.”
Fraud doesn't always begin with a fake equipment listing. Sometimes it begins with a conversation.
Romance scams continue to be a concern, particularly for older adults and people who have recently lost a spouse. Fraudsters may spend weeks or months building trust before asking for money or gathering enough personal information to commit identity theft.
Public information can give scammers a surprising head start. Obituaries and social media may reveal names of family members, hometowns, occupations, military history, hobbies and other details that can be used to create a believable connection.
If you're concerned that a family member may be involved in a scam, Drudik recommends approaching the conversation with compassion rather than embarrassment or blame.
“Don’t make them feel bad about it,” Drudik said. “Just say, ‘I care about you. Will you let me help?’”
The conversation also explores investment and cryptocurrency schemes sometimes referred to as “pig butchering” scams.
In these schemes, fraudsters may show victims what appears to be a rapidly growing investment account. Seeing those supposed returns can convince someone to invest more and more money—but the balance they're seeing may not be real.
Be cautious when someone promises guaranteed returns, pressures you to act immediately or asks you to move your conversation away from a legitimate platform.
When money is involved, slowing down and asking questions can be one of your best defenses.
Protecting yourself from fraud also comes down to everyday digital habits.
Swartzendruber recommends using long, unique passwords and avoiding words, phrases or combinations that someone could easily associate with you.
And if multi-factor authentication is available? Turn it on.
“I can guess your ‘Huskers123,’ but I can’t make your fingerprint,” Swartzendruber said.
Start with your most important accounts. Financial accounts should be a top priority, followed by your email and social media accounts.
Regularly reviewing your bank accounts is also important. Digital banking isn't something to set up and forget. Checking transactions and account activity frequently can help you spot something suspicious sooner.
Heartland Bank customers also have access to tools that can add another layer of protection:
HB Alerts can help you stay informed about transactions, low balances, password changes and other account activity.
Card Controls allow you to monitor and temporarily disable your debit card through Heartland Bank's mobile app.
Credit Sense provides access to credit monitoring, which can help you identify unexpected changes or activity that could indicate identity theft.
⚠️ Most importantly, remember this: Heartland Bank will never ask you to provide your online banking password, full debit card number or PIN.
If a call, text, email or transaction doesn't feel right, don't let someone pressure you into acting quickly. Stop, verify the information independently and contact your local Heartland Bank branch.
Scammers continue to change their tactics, but knowing what to look for can make it much harder for them to succeed.
Our conversation with Rural Radio Network is part of Heartland Bank's ongoing commitment to helping our customers and communities recognize fraud before money—or sensitive information—falls into the wrong hands.
Whether you're buying your next piece of equipment, managing accounts from the cab of a tractor or helping a family member navigate a suspicious situation, remember: slow down, ask questions and verify before you act.
Listen to the full Surviving the Family Farm episode to hear more from Shannon Drudik and Corey Swartzendruber about protecting your family, finances and farm operation from today's scams.