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? ›

That's always a scam. Stop and check it out. If you're worried, call your real bank, broker, or investment advisor. Use the number you find on your statement — never the number the caller gave you, which will take you to the scammer.

All consumers are reminded that banks or the police will never contact you asking for your online banking password or for you to transfer money to a new account for fraud reasons.

5. Secure your online accounts with strong passwords and 2FA. If scammers have access to your phone number, they could potentially use it to hack into your online accounts — including your email, social media, and even your bank account.

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.

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.

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.

A phone number alone is not enough for someone to hack your bank account. But, as outlined above with regard to someone having your email address, someone with your phone number could potentially call or text you as part of a phishing scam with the ultimate aim of hacking money from your accounts.

You receive unknown calls and texts

Your phone can't be hacked just with a regular call — but phone hackers can use fake text messages to infect your phone, and suspicious no caller ID calls may be part of a wider ploy to access your device.

Your phone can't be hacked from your number alone, although there are some zero-click attacks that can install malware even if you don't answer a call or click a text. Usually, to hack a phone, scammers need targets to take some action, like clicking a malicious link or downloading an infected app.

How often do banks call you for suspicious activity? ›

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.

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.

File a complaint with the FCC if you believe you have received an illegal call or text, or if you think you're the victim of a spoofing scam. Click the tabs below for tips, FAQs and resources. Don't answer calls from unknown numbers. If you answer such a call, hang up immediately.

Once hackers have your number, they can use it to gain access to your most sensitive and valuable data, such as your: Email accounts and contact lists. Financial assets and bank accounts. Current and previous home addresses.

Someone with access to both your account number and routing number could withdraw money from your personal bank account. They could also use these account details to shop online, pay bills, create counterfeit checks or apply for new credit accounts.

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.

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.

Fraud monitoring

We'll send you alerts if we identify unusual or suspicious activity on your account. A temporary block may be placed on your account when fraud is suspected to prevent ongoing fraudulent activity.

The bank is alerted of suspicious activity through either the bank's detection system or from fraud claims from customers. They then collect all the information they have before conducting a thorough investigation. They then review all the details and make a decision on the case before taking action.

Never transfer any money at the request of an unexpected caller over the phone. If you receive a suspicious or unexpected call purporting to be from the bank, end the call and call us back using an independently verified phone number, such as a contact number from our website.