Mo. — A consumer watch story to pass along on a new banking scam.
A quickly growing phone scam is targeting banking customers via text message.
Now, in one version of that scheme, a scammer pretends to be with a bank’s fraud department, and asks about a fake “suspicious withdrawal.”
The scammer then sends a fake verification code that looks just like one a bank would send to you.
Once you’ve read that code to the scammer it is possible the scammer can gain access to your account.
This is exactly what happened to one California man.
“The fact that they used the bank’s own infrastructure to send that / code to me, which then allowed them to reset my password, made it very credible,” Pieter Gunst said, Legal.IO CEO
Katherine Hunt with the Better Business Bureau has advice for anyone using online banking.
“A lot of scams come in through the phone, and more and more we see them coming in through text message,” Hunt said. “Whether it’s a small local community bank or credit union or one of the biggest banks in the country, they can be impostors, so you just have to be really careful.”
Americans say they lost nearly one and a half billion dollars to fraud last year.