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Your phone pings. It looks like a text message from your bank, and it’s urgent.
It says you need to send money to your account using a wire transfer or digital payment like Zelle® to reverse a fraudulent transaction. Or, it tells you there’s suspicious activity on your account, and you need to call a certain number right away to address it.
If the message is from your bank, it must be legitimate, right?
Impersonating a financial institution, a government agency or a utility company is a common scam tactic to get access to your accounts or personal information. Even the most cautious consumers can fall victim, as scammers become increasingly sophisticated in their efforts to commit digital fraud.
Knowing about scammers’ tricks can help you stay one step ahead of them. Here are some common schemes you might see.
Scammers can “spoof” phone numbers. Your caller ID can say the call or text is from your bank even though it’s not. The scammer will eventually ask for personal or financial information or ask you to send money.
“Phishing” is when you get an email that looks reputable but asks you to call a fraudulent number, respond to the email or go to a website and enter personal information. You may be asked to look at an attachment, which then gives bad actors access to your computer if you open it.
Smart technology allows scammers to duplicate familiar voices and trick consumers out of money and personal information. Scammers gain the trust of victims by pretending to be a close family member or friend in need.
Scammers can steal written checks from unattended mailboxes, or if you deposit them but don’t dispose of them properly. They’ll use chemicals to erase and rewrite the checks to themselves, sell your personal info or use it to create counterfeit checks.
Scammers place fake phone numbers in search engines and online ads under the names of legitimate companies like banks or airlines. People call those numbers and are tricked into sharing account or other personal information.
Be proactive and avoid becoming a victim by following these tips.
If you become a victim of online fraud, don’t be embarrassed, and report it to your bank. Also, tell family and friends about your experience so they too can be on high alert.
Scammers may try hard, but consumers who are alert and informed can stop them in their tracks.
For more fraud and scam prevention tips, visit Chase.com/SecurityTips, www.ftc.gov, and on social media follow the tag“#banksneveraskthat” for more information.
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