How to Protect Yourself from Bank Scam Calls: A Comprehensive Guide

Bank scam calls are a prevalent threat, with reported losses from impersonation scammers increasing more than four-fold, reaching $445 million in 2024. (legalclarity.org) These fraudulent calls often involve scammers posing as bank representatives to steal personal and financial information. To protect yourself, consider the following strategies:

How Can You Identify Legitimate Bank Calls?

Banks typically contact customers for specific reasons, such as fraud detection, credit card applications, or customer service follow-ups. Legitimate calls are usually brief, specific, and may be preceded by a text message or push notification. Scammers often mimic these patterns, making it crucial to verify the authenticity of unexpected calls. (legalclarity.org)

What Are Effective Methods to Block Unwanted Calls?

Register with the National Do Not Call Registry: Adding your number to the National Do Not Call Registry can reduce legitimate telemarketing calls. However, it may not stop calls from organizations you have a relationship with, such as your bank. (helpwithmybank.gov)

Use Call-Blocking and Filtering Tools: Many phone carriers offer free or low-cost call-blocking services that can detect and block unwanted robocalls. Additionally, smartphones have built-in features to block unknown or suspicious numbers. Third-party apps like Hiya, Nomorobo, and RoboKiller provide enhanced call-blocking functionality by analyzing calls and filtering out known spam numbers. (firstbank.com)

How Can You Safeguard Your Personal Information?

Avoid Sharing Sensitive Information: Legitimate organizations will not ask for personal information, such as Social Security numbers or bank account details, via unsolicited calls, emails, or texts. If you receive such a request, contact the organization directly using a known and trusted method. (consumer.ftc.gov)

Be Cautious of Caller ID Spoofing: Scammers often manipulate caller ID information to make their calls appear as though they are coming from a legitimate source, such as your bank. If you receive a call claiming to be from your bank requesting sensitive information, hang up immediately and contact them directly using the phone number listed on their official website or your account statement. (firstbank.com)

What Should You Do If You Receive a Suspicious Call?

Do Not Engage: If you receive a call from an unknown number, let it go to voicemail. Scammers rely on people answering their calls to determine active numbers. Engaging with them in any way, even by pressing a key to "opt-out," can result in even more unwanted calls. The same goes for suspicious text messages—do not reply, click on any links, or follow any instructions. (firstbank.com)

Report Suspicious Calls and Texts: Reporting unwanted robocalls and scam texts can help authorities track and shut down fraudulent operations. You can report them to the Federal Trade Commission (FTC) at ReportFraud.ftc.gov. (consumer.ftc.gov)

How Can You Enhance Your Phone's Security Features?

Enable Two-Factor Authentication (2FA): Secure your online banking accounts by enabling two-factor authentication. This additional layer of security requires you to verify your identity with a second step, such as entering a code sent to your phone or email. Even if scammers obtain your username and password, they will not be able to access your account without this extra verification step. (firstbank.com)

Utilize Built-In Phone Features: Both iOS and Android smartphones have built-in features to block unknown or suspicious numbers. For example, on iPhone, you can enable "Silence Unknown Callers" to send calls from numbers not in your contacts directly to voicemail. On Android, you can enable spam protection in the Phone app settings to warn you about scam likely numbers automatically. (malwarebytes.com)

How Can You Stay Informed About Scams?

Stay Updated: Regularly check resources like the Federal Trade Commission's website for the latest information on scams and how to protect yourself. Being informed about common scam tactics can help you recognize and avoid them. (consumer.ftc.gov)

By implementing these strategies, you can significantly reduce the risk of falling victim to bank scam calls and protect your personal and financial information.