Financial institutions will never ask for personal information over the phone or via text or email. This includes PIN, passwords, credit card or debit card account numbers, expiration dates, or other confidential information. Perpetrators "blast" calls, texts or e-mails to thousands of people knowing that a small percentage will respond. The fraud is set in motion when a consumer responds with personal information.
Financial institutions actively monitor this type of scam. Banks and credit unions engage in fraud-prevention services, putting rules in place that result in calls being made to members if unusual or potentially fraudulent activity occurs on an account. When these calls are placed, questions will be asked to verify the customer’s identity — such as the last four digits of the account holder’s Social Security number or confirmation of recent transactions. However, they will not ask for personal account information other than that which confirms the identity of the account holder.
Key Facts
*Phishing is when a criminal makes fraudulent attempts to obtain personal information, including PIN numbers, passwords, credit card or debit card account numbers, expiration dates, or other confidential information.
*These messages are received by thousands of consumers, and the best way to avoid becoming a victim is not to respond.
*Banks and credit unions will not ask for personal information of any kind in a phone call or e-mail.
*Personal information includes PIN numbers, passwords, credit card or debit card account numbers, expiration dates, or other confidential information. Never share or verify any personal information over the phone or by e-mail.
How it Works:
*The perpetrators obtain a list or group of cell phone numbers for potential victims.
*Calls are made or text messages are sent to potential victims implying there is a problem with their debit/credit/ATM card or other issue needing attention and personal information. For example: Your bank check card has a hold on it. Press 1 to reactivate and then enter your account number.
*Do not respond to a phone call asking for personal information.
*If you receive a phone call asking to verify your information, contact your financial institution.
If information was provided, contact the financial institution so that the account can be monitored.
