Technology is changing fast, and so are the ways that scammers will try to fool you. Bank imposter scams can be especially serious. That’s when a criminal poses as your bank to trick you into giving up access to your bank account or financial information.
If the scammer is successful, they could drain your bank account. But when you know what to watch out for, you can shut them down before they get far.
How a Bank Imposter Scam Works
It starts with a scammer sending you a message that appears to come from your bank. While scammers may not know where someone banks, they may pose as a widely used bank in your community to increase their chances. Or they may snoop through someone’s online or social media activity to figure out exactly which bank their target uses.
Messages from bank imposters try to push you into immediate action. They often contain urgent or enticing information. They may claim that your account is in danger of termination if you don’t verify your information, say there’s an issue with a recent transaction that could incur fees or claim there’s an urgent security concern. They may also extend offers for lines of credit, account bonuses or other deals.
Regardless of the fictitious pretext they use, the scammer’s goal is always the same: To trick you into providing sensitive information like your account details or online login information so the criminals can access your bank account – and help themselves to your money.
You may be urged to reply to the “bank” using a provided link or phone number. Don’t. Your bank and other legitimate businesses won’t contact you in this way to ask you for sensitive personal or financial information.
How Scammers May Contact You
Bank imposters may try to reach you in a variety of ways:
- Phone Calls. Using spoofing technology, scammers can falsify their caller ID information so it looks like the phone call is coming from your bank. This makes it harder to tell if a call is legitimate. If something seems unusual, hang up or simply don’t answer in the first place. To determine if your actual bank is trying to contact you, call them directly using the phone number provided on their website.
- Emails. Phishing emails are a common tactic. When used for a bank account scam, the phishing email may closely resemble regular communications from your bank. The sender’s email address will appear similar to the ones your bank uses. But one of the surest signs of fraud is a misspelling in the name that appears in the sender address (such as missing or swapped letters) or an unusual domain name. The email message itself may also contain misspellings, odd phrases or poor grammar.
- Text Messages. Texts are a more recent evolution of this scam. The sender’s number can be spoofed just like it can be for phone calls. You may receive a message that urges you to click on a link to resolve an immediate banking issue or activate a special service or deal. Links in scam texts may take you to a website that resembles your bank’s actual website, but the URL won’t be the same. Scammers may design a fraudulent website to capture your online bank account login or other information they can use to gain access to your accounts.
Ways to Help Protect Your Bank Account
When you call your bank directly for a banking need, it’s common to provide information to verify your identity for security purposes, such as your date of birth, the last four digits of your Social Security number or bank account number. However, banks won’t reach out to you directly to ask for sensitive information like this:
- Your online bank account username and password
- One-time verification codes sent as part of a secure login process
- Your entire Social Security number
- Your bank account number
- Your credit or debit card number or PIN
- Your personal banking PIN
Be leery of any unsolicited communication that asks for this information. If it’s a phone call, hang up. If it’s a text or email, don’t click any links or download attachments.
Don’t Fall for Fraud
Be sure to monitor your bank account activity and take action if you spot anything suspicious. If you believe your accounts have been targeted by a scam, contact your bank right away.
At Amegy, we prioritize your security and want to help keep your bank accounts protected. To learn more about common scams and important steps you can take to stay safe, visit our online security center.