A growing scam is the stealing of victims’bank accounts by identity thieves. According to the American Bankers Association, this type of scam has increased by 260% in the last two years. One of the more common ways scammers steal your bank account is by getting you to give them the keys to the kingdom by calling you on your cell phone with an automated call or text message from the scammer posing as your bank, telling you that there has been a security breach and your account is in jeopardy. The message asks you to provide personal information about the account. Many victims have trusted the scammers because their caller ID shows that the message came from their bank. However, the bank’s caller ID has merely been copied or spoofed by the scammers. If you provide the requested information, your account can be emptied and your identity stolen causing you further financial harm. Sometimes the message actually appears to come from a bank you do not even have an account with.
You should be skeptical when your bank appears to be contacting you and asks for personal information. And, of course, you should never respond to a message from a bank that you do not have an account with asking for personal information. Never respond to a text message or automated call purporting to be from your bank by doing anything other than contacting your bank at a telephone number that you know is correct to confirm the call.