Texting Scam

Watch For Scams is dedicated to helping you avoid becoming a victim of fraud.

If you like this ezine, do a friend a big favor and forward this to them. If a friend forwarded this to you, and if you like what you read, please subscribe by visiting the link below:

Subscribe Here

Texting Scam

If you don’t wish to be smished, ignore text messages that look like they’re coming from your bank or credit card. Flip over your credit or ATM card and call the number on the back. If there’s a problem with your account, that’s the best way to find out.

Consumers started complaining early last week about calls to their cell phones from people posing as Wells Fargo employees. An automated voice suggests that the customer’s account has been breached and you to “press one” for assistance. The consumer was then connected to a person who asks for sensitive account information.

Many of the calls went to consumers who don’t have Wells Fargo accounts. As the week progressed, the scam morphed to text messages from people posing as representing Bank of America, Chase, Citibank, and Capital One.

Smishing differs from “phishing” scams, which trick consumers into turning over sensitive information by phone and email.

The text scam is a new variation. Never respond to any message requesting account or personal information. Instead, contact the financial institution using a phone number from a statement or from your bank or credit card company’s official website.

Consumers contacted by such scammers should file a complaint with the the Federal Trade Commission at http://www.ftc.gov/ftc/contact.shtm.

Consumers concerned they may have revealed sensitive information in a phishing or smishing scam should contact their bank or credit card company and monitor their bank statements, credit card bills, and credit reports to watch for suspicious activity.

You can report suspicious e-mail solicitations or fraudulent websites to the Internet Crime Complaint Center at www.IC3.gov.

Remember - always watch for scams!

Steve