Fifth Third's SmartShield® Helps Customers Fight Bank Impersonation Scams

Customers can now report suspected scams from their mobile app

CINCINNATI--(BUSINESS WIRE)--Fifth Third (NASDAQ: FITB) today announced the launch of a new in-app feature, Report Phishing, that allows customers to quickly identify and report bank impersonation scams, one of the fastest growing forms of financial crime. Available within the SmartShield® experience in the Fifth Third mobile app, the tool lets customers submit suspicious texts, emails, or social media messages and receive confirmation on whether they are fraudulent. Since its January soft launch, the Report Phishing feature has played a key role in detecting malicious activity and stopping scams: nearly 25% of user-submitted content has been flagged as fraudulent. SmartShield® is a free security experience in the Fifth Third mobile app that provides enhanced protection against scams.

About one in five Americans has lost money to an online scam or attack, according to the Aspen Institute, and older adults are being disproportionately impacted. According to the FBI, adults 60+ reported losses of $7.7 billion in 2025, up nearly four-fold from 2024. From government imposters and fake bank representatives to tech-support fraud, scammers are growing more sophisticated and targeting everyday people with increasing aggression. These scams often pressure customers to act quickly by posing as their financial institution, making timely education and verification tools increasingly important.

“Impersonation scams are evolving rapidly, and customers are being targeted across more channels than ever before,” said Kris Edwards, senior vice president and head of fraud prevention at Fifth Third. “We’re seeing increased volume and sophistication, which reinforces the need for simple, accessible tools that help people stop, verify, and protect their money.”

Why SmartShield® Matters

Every year, Fifth Third’s advanced analytics and security technology blocks millions of malicious attempts to impersonate or access customer information. Even with strong protections in place, a significant portion of incidents stem from actions customers are tricked into taking themselves—such as sharing credentials or sending payments to criminals. That risk is growing: According to the FBI, Americans reported $20.9 billion in cybercrime losses in 2025 alone, up 26% from 2024.

SmartShield® helps close this gap by combining fraud alerts, education, and guided actions directly in the mobile app. Customers who engage with SmartShield® are also more likely to enroll in Fifth Third’s Identity Alert platform, a premium identity protection service that monitors assets, bank accounts, credit cards, and Social Security numbers across both the dark and public web, helping customers stay one step ahead of evolving threats. Since launching in 2024, more than 5 million unique customers have used SmartShield®, with approximately 650,000 unique users engaging every month.

“SmartShield was designed to meet customers where they are, helping customers get the most from the protection we offer by making a topic customers often tell us is overwhelming more approachable,” said Ben Hoffman, chief strategy officer and head of consumer products at Fifth Third. “The Report Phishing feature adds another layer of protection, control and confidence by giving customers a clear way to ask, ‘Is this real?’—and get an answer.”

How the New Feature Works

The new Report Phishing functionality lives in the SmartShield’s Fraud Center in the Fifth Third mobile app and allows customers to:

• Upload a screenshot of a suspicious message or communication directly in the app.

• Get notified whether the submission is deemed fraudulent or legitimate.

This capability supports SmartShield’s broader mission of weaving protection, education, and proactive security actions directly into everyday mobile banking.

A Broader Commitment to Scam Prevention

Fifth Third takes a multi‑layered approach to protecting customers from scams. Since the start of the year, Fifth Third has prevented millions of dollars in customer losses from scams through intervention tactics. The Bank invests in real‑time transaction monitoring, customer education campaigns, and frontline employee training. Fifth Third also partners with local law enforcement and community organizations to host in‑person and virtual events focused on scam awareness, helping customers and communities recognize warning signs and reduce risk before losses occur.

As part of this commitment, Fifth Third is launching a series of community education events focused on banking safety and scam prevention, beginning with a Protect Your Money program on June 15 at the Matrix Center in Detroit, Michigan.

About Fifth Third

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies^® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ^® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.

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