Discover techniques for spotting red flags and safeguarding against phone scams.
Be on the lookout for these red flags!
- Unusual Caller ID: While caller ID can be spoofed, legitimate calls from your bank are more likely to display an official phone number or a known identifier. If not, be very skeptical.
- Scare Tactics or Threats: Phishing calls rely on a sense of urgency. If the caller pressures you into immediate action or threatens negative consequences, just hang up and call the number on the back of your bank card.
- Asking for Personal Information: Banks will rarely ask for your account number, PIN, or password during a phone call — and will never ask for a one-time login code. Never share such confidential details unless you’ve called the number on the back of your bank card.
- Calling You Unexpectedly: Be very skeptical of calls you receive out of the blue. Normally, bank representatives will only reach out if you initiate contact first. Stay safe by ending the call and dialing the number on the back of your bank card.
If you have any doubts about the legitimacy of a phone call, verify its authenticity by contacting the bank directly using a publicly listed phone number.
Source: American Bankers Association (2023). Banks Never Ask That.
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