PPP Loan Scams Targeting Businesses
We want to make you aware of fraud schemes targeting businesses that received Paycheck Protection Program (PPP) loans. Fraudsters are exploiting publicly available PPP loan data released by the U.S. Small Business Administration (SBA). This information includes business names and addresses, loan amounts or ranges, funding dates, employee counts, loan forgiveness status, and the name of the originating financial institution—including First National Bank of Broken Arrow (FNBBA). Unfortunately, criminals are using this information to make their impersonation attempts appear legitimate.
How These Scams Work
Fraudsters may contact PPP loan recipients by phone, email, or text, often using spoofed phone numbers or email addresses that appear to be from FNBBA or a government agency.
They may claim to represent:
- FNBBA or our Fraud Department
- The U.S. Small Business Administration (SBA)
- The U.S. Department of the Treasury
- Local, state, or federal law enforcement agencies
They often claim they need to:
- Verify account information or wire transfers
- Confirm PPP loan details or forgiveness information
- Help stop suspicious or unauthorized transactions
- Investigate an allegedly fraudulent PPP loan or threatened legal action
Their objective is to pressure you into providing sensitive information—such as online banking credentials, passwords, one-time security codes, or other confidential information—or to convince you to authorize fraudulent transactions.
FNBBA will never ask you for your online banking username or password, one-time security codes (MFA or authentication codes) or full online banking access credentials.
If you receive a suspicious call, email, or text do not respond. Do not click on links or open unexpected attachments. Do not provide personal or business information. Hang up immediately if the communication seems suspicious.
If you're ever unsure whether a communication is legitimate, end the conversation and contact FNBBA directly using a published phone number. We'd much rather you call us back than risk becoming a victim of fraud.