Texts made to look like they’re from your bank | #phishing | #scams | #education | #technology | #infosec



PHOENIX — It’s the same high-pressure tactic scammers have been using for years.

They say that you have to act fast and if you hesitate, your money will be gone – sent to someone you don’t know – never to be seen again.

If you don’t see the red flags, you may get sucked in.

“I immediately was scared because there’s $3,500 coming out of my account,” said Lynn. She says it all started when she read a text message.

It looked like a fraud alert from her bank Wells Fargo. It said a Zelle payment was being taken out and if she didn’t make the payment to respond with the word “no”.

“I put big capital letters, “NO.” But about five minutes later, I got a phone call,” stated Lynn.

That’s when she says she was sucked into the scammer’s story.

“He kept on saying you got to do this within 10 minutes, 10 minutes, it’s going to go out. It’s going to go out of your account,” said Lynn.

The person on the other end said they were with the Wells Fargo Fraud Department and that Lynn had to make a Zelle payment to herself in $500 increments to get her money back.

“I got very caught up in that. And I got hypnotized in a, you know, upset, nervous, I wasn’t thinking straight,” said Lynn.

Thankfully for Lynn, her husband was in the room listening to the call and he didn’t fall for it; getting her off the phone before and money was sent.

But not everyone is so lucky.

We asked Wells Fargo and Zelle about this scam and how people can spot it.

Wells Fargo says people need to know that “criminals can spoof a caller ID so it appears as if an unexpected call or text is from your bank.” They said, “to be safe – don’t respond” and contact your bank through a legitimate number like the one on the back of your debit card.

Zelle says banks will “never call [you] asking for sensitive information” and will not ask customers to “transfer funds between accounts to prevent fraud.”

As for Lynn’s case, she called her bank and they confirmed the text was indeed from a scammer.

If you fall victim to an internet scam, be sure to report it to the FBI and your bank.

—-

Wells Fargo Full Statement: 

We want all consumers to use Zelle and bank safely. In addition to collaborating with our Financial Institutions on safety educational initiatives, we work with all types of organizations and media companies to help educate the U.S. consumer. 

Along with the industry, we are actively working to raise awareness of common scams and increasing education efforts to help our customers identify scams and avoid becoming a victim of fraud, including through customer emails, social media and our Online Security Center. We never want to see anyone become a victim of a scam, and it is heartbreaking when people are scammed of their hard-earned savings.

We’re continually reviewing and improving our practices and procedures for combatting and helping prevent customers from becoming scam victims. It’s a priority for us and the industry overall.

As scammers are always active, we want to make sure everyone is aware that criminals can spoof a caller ID number so it appears as if an unexpected call or text is from your bank. To be safe, don’t respond. Contact your bank using legitimate sources, such as the number on the back of your debit card.

If a person believes that they have been a victim of a scam, we encourage them to report the scam promptly and provide as much information as possible.

Below is information that we’re sharing with consumers on how to avoid becoming a victim of fraud:

· It is important to watch out for scammers who may be able to spoof a phone number so the caller ID appears as if the call is from your bank. To be safe, don’t respond. Contact your bank using legitimate sources, such as the number on the back of your debit card.

· Know that your bank will only send you a code when prompted by an action that you’ve initiated, such as signing on to online banking, sending money, or when you call us directly. Never share your temporary access codes (for example, a one-time passcode) or PIN with anyone who calls you unexpectedly. Your bank or the government will never ask you for this information.

· Avoid sending money or giving your account information to anyone you don’t know or a company you can’t verify as legitimate.

· Wells Fargo will not contact a customer and ask them to send money to themselves or anyone else to prevent or stop fraud on their account.

· Don’t send money to “receive a refund” or “reverse a transfer.” Remember, the bank has your account information.

· If you receive a code to authorize any amount of money (even $.01) to be transferred or another transaction you didn’t initiate, don’t enter the code in your bank app or share it with anyone, even if they claim to be from your bank.

· If you are uncomfortable with a request received by phone call or text that you didn’t initiate, don’t respond and hang up immediately. Contact the company using legitimate sources such as a phone number on their website or the number on the back of your debit card. If a caller claims to be from Wells Fargo (even if your caller ID indicates it’s Wells Fargo), hang up and call 1-866-867-5568 (or the number found on Wells Fargo’s website or the back of your debit card) to verify the request.

· We encourage consumers to visit Wells Fargo’s online security center to learn about common scams and how to avoid them.

Zelle Full Statement: 

Robocalls: Robocalls impact several industries, and financial services are not immune. Part of our commitment is to inform and remind consumers that their bank or credit union will never call them to ask for sensitive information. They would not ask customers to transfer funds between accounts to prevent fraud. Here are some resources: The American Bankers Association (ABA) recently launched the #BanksNeverAskThat anti-phishing campaign here. Zelle is partnering with Nev Schulman, host and executive producer of MTV’s Catfish, on a consumer education program to help audiences understand how to spot suspicious online behavior. The campaign includes a TikTok series that explains trending scams and how to avoid them. Here is an example of one of them, which focuses on.

Robocalls: https://www.tiktok.com/@nevschulman/video/7029776240299052334?is_copy_url=1&is_from_webapp=v1 [tiktok.com]As part of our educational center, we provide resources and education around fraud and scams: https://www.zellepay.com/financial-education/pay-it-safe [z

  • Robocalls: Robocalls impact several industries, and financial services are not immune. Part of our commitment is to inform and remind consumers that their bank or credit union will never call them to ask for sensitive information. They would not ask customers to transfer funds between accounts to prevent fraud. Here are some resources: 
  • The American Bankers Association (ABA) recently launched the #BanksNeverAskThat anti-phishing campaign here.





Source link