Bank Impersonation Scams

Bank impersonation scams are increasing. Threat actors impersonate bank representatives and contact victims under false pretenses, such as verifying account and/or transactions details, or resolving security issues.

They can mirror the calls to appear to be established bank phone numbers. They often request sensitive information such as account numbers or passwords to gain unauthorized access, and may provide a link via email or text message and then encourage victims to access it.

To protect yourselves from fraud, please be aware of the following:

• Banks will never ask you for your passwords, never ask you for answers to your security questions, and will never ask you to perform Multi-Factor Authentication for your account on our behalf (if we call you).
• Be Skeptical of Caller ID: With phone spoofing, call ID can be tampered with and is no longer trustworthy. Do not let it offer a false sense of security. Scammers may be able to spoof a phone number, so your caller ID reads your banking institutions name.
• Do Not Share Personal Information: Never provide personal information, such as Social Security numbers, credit card details, passwords, or login credentials to unsolicited callers.
• End the Call: If you receive a phone call from a person or a recording requesting personal information, hang up. Cut off contact immediately with someone you suspect is impersonating a professional. If the call appears to be coming from a trusted organization, hang up and call that entity at a trusted contact to confirm the request.
• Report Suspicious Activity: Call your bank and report fraud attempts immediately, noting what was said, what information was requested, and – if possible – the phone number or area code of the caller.
• Never Assist in Completing Multi-Factor Authentication for a Request You Did Not Initiate. Never transfer money or make payments as a result of an unexpected call or text.

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