Got a call about fraud activity on your bank account? It could be a scammer (2024)

FAQs

Got a call about fraud activity on your bank account? It could be a scammer? ›

Stop and check it out.

Remember that a genuine bank will never call you out of the blue to ask for your PIN, full password or to move money to another account. If you feel something is suspicious or feel vulnerable, hang up and then call your bank or card issuer on their advertised number to report the fraud.

Fraudsters can try to access your online accounts (i.e., social media or banking) using your phone number. They can send a password reset to your phone and even trick automated systems into thinking they are you. Send you malware or spyware.

A real financial institution won't ask for personal information by text or email. If the alert seems real but you're unsure, call or reach out to the bank through a contact listed on the bank's website, rather than a contact provided by the alert.

The easiest way to become a victim of a bank scam is to share your banking info — e.g., account numbers, PIN codes, social security number — with someone you don't know well and trust. If someone asks for sensitive banking details, proceed with caution.

Robocalls sometimes prompt you to take action, such as “press 1 to speak to a live representative” or “press 2 to unsubscribe” and so on. By following instructions, you confirm to the robocallers that you are a potential victim and invite further robocalls. Try to avoid taking any action.

What Are Suspicious Transactions in Banking? Suspicious transactions are any event within a financial institution that could be possibly related to fraud, money laundering, terrorist financing, or other illegal activities.

Can you get hacked by answering a phone call? It's impossible to get hacked by simply answering a phone call made through your network service provider. But that doesn't mean a phone call can't be exploited to compromise your security via a social engineering attack.

If you've recently been the victim of identity theft, then changing your phone number is one of the optimum ways to protect yourself from repeated identity theft. There are also various software services and tools that can protect you from repeated identity theft.

Protect your personal information: To verify your identity, your bank will ask basic questions to ensure they are speaking to the correct person. However, they will never ask you to disclose your passwords or your PIN number on the phone.

Will Bank of America call me about suspicious activity? ›

Tip: Stop and verify. While Bank of America may send you a text to validate unusual activity, we will never contact you to request you share a code over the phone or send us or anyone else money, including through Zelle^®. Read about social engineering.

This practice entails sending money to a bank account, with the recipient unable to withdraw the funds from their bank account. In other words, fake bank alerts can be referred to as flash funds, also called “audio money” in the local parlance, to make a money transfer seem original while it is faux.

First, banks will never ask you to transfer money into a 'safe account'. It just doesn't happen. Second, banks will never ask you to reveal personal information including your PIN, or passwords for online accounts. If in doubt, hang up the phone and call your bank directly using the number on your credit or debit card.

Most High Street banks are now using automated calls to alert customers to an unusual transaction and ask them if they have made it. Santander says it is making about a thousand calls a day just to verify cheque payments.

If potential money laundering or violations of the BSA are detected, a report is required. Computer hacking and customers operating an unlicensed money services business also trigger an action. Once potential criminal activity is detected, the SAR must be filed within 30 days.

U.S. Bank will never contact you by phone or email to ask for your account numbers, PIN numbers, or any other confidential information. U.S. Bank only asks you for confidential information to verify your identity when you initiate contact with us. To contact us online, type usbank.com on your Internet browser.

Yes, banks may use text messages to help protect accounts and provide convenient messages to customers. The utilization of text messaging varies from bank to bank, so it's important to understand how yours might reach out to you once you agree to receive texts from them.

A scammer contacts you pretending to be someone from your bank. The call may even look like it's coming from your bank because the scammer uses spoofing technology to disguise the number on your caller ID so it appears legitimate.