Bank Scam Awareness

Bank Scam Awareness

Complete Scam Breakdown

Step-by-Step Description:

  1. Initial Compromise: Your credit card information is compromised when you use it to add funds at a local GreenDot recharge location. Scammers may use skimming devices or other methods to steal your card details.
  2. Attempted Purchases: Scammers begin to try making purchases for the amount you reloaded on your card. Initially, these attempts will be blocked, but they will continue to make purchases in lower increments until a successful purchase is made. Multiple attempts will be done in a short period, all for out-of-state purposes.
  3. Unsuccessful Login Attempts: Scammers go to your Banks member login page and purposely make multiple unsuccessful attempts to log into your account, intentionally locking you out.
  4. Changing Recovery Information: Scammers change your recovery telephone number on your banking site. This means that any attempts to reset your login information will send a message to the scammer’s number instead of yours.
  5. Suspicious Calls: You receive a call from a number starting with 1-833 that looks like a legitimate Bank telephone number. The call comes at unusual hours, likely when you are unable to reach a customer service representative from your bank.
  6. Voicemail Content: If you don’t answer, a voicemail is left. The voicemail is automated, mentioning your name and claiming to be from the "Bank fraud prevention line." The message states there's an attempt to change your Bank password.
  7. Repeated Calls: You receive multiple calls within a short period, creating a sense of urgency and phone calls will likely coming from different telephone numbers.
  8. Phishing Attempt: If you answer the phone call, the scammer will claim to be from your bank's "Fraud Department" and mention unusual activity on your card. They may ask if you are traveling and describe purchases made in various states. Their goal is to extract sensitive information, such as your password or a password reset verification code, to gain full access to your account online.

What to Watch For:

  • Unusual Call Times: Be suspicious of calls at odd hours, especially from unfamiliar numbers.
  • Caller ID Spoofing: Recognize that scammers can make their numbers look official, even using legitimate-looking area codes and prefixes.
  • Automated Messages: Be wary of automated messages that ask you to press a number to address a security issue.
  • Urgency and Frequency: Scammers often use repeated calls to create a false sense of urgency.
  • Requests for Sensitive Information: Legitimate companies will never ask for your password, PIN, or verification codes via call, text, or email.

Preventive Measures:

  • Ignore Suspicious Calls: Do not answer or respond to calls from unfamiliar numbers. Let them go to voicemail.
  • Do Not Provide Information: Never provide sensitive information over the phone, especially if unsolicited.
  • Verify with the Company: Contact Bank or any other mentioned company directly using official contact information to verify any claims.
  • Report the Scam: Report the scam to Bank’s customer service and provide details of the calls, including phone numbers and messages.
  • Monitor Your Accounts: Keep an eye on your financial accounts for any unauthorized activity and report it immediately.
  • Use Security Features: Enable two-factor authentication and other security measures on your accounts to add an extra layer of protection.