What are common signs of a bank scam call?

Common signs include unsolicited requests for personal information, urgent demands for immediate action, and offers that seem too good to be true.

How can I verify if a call from my bank is legitimate?

Hang up and call your bank directly using a verified phone number from your bank statement or official website to confirm any claims.

What should I do if I receive a suspicious call claiming to be from my bank?

Do not share any personal or financial information. Hang up and contact your bank directly using a verified phone number to report the incident.

How to Protect Yourself from Bank Scam Calls: Essential Steps for Everyday Users

Bank scam calls are a prevalent threat, with consumers reporting losses of $12.5 billion to fraud in 2024, with imposter scams being the second highest category of reported losses. (fdic.gov) These scams often involve fraudsters impersonating bank representatives to steal personal and financial information. To protect yourself, consider the following steps:

How Can You Recognize Bank Scam Calls?

Scammers employ various tactics to appear legitimate:

Urgent Requests: They may claim immediate action is required to prevent account issues.
Unsolicited Contact: Receiving unexpected calls asking for personal information.
Unusual Payment Methods: Requests for payment via wire transfer, gift cards, or cryptocurrency.

Be cautious of unsolicited calls requesting sensitive information. (consumer.ftc.gov)

What Should You Do If You Receive a Suspicious Call?

Hang Up: If you receive an unsolicited call requesting personal information, hang up immediately.
Verify the Caller: Contact your bank directly using a verified phone number from your bank statement or official website to confirm any claims. (consumer.ftc.gov)
Do Not Share Personal Information: Never provide personal or financial details over the phone unless you initiated the contact.

How Can You Protect Yourself from Unwanted Calls?

Register with the National Do Not Call Registry: This can reduce legitimate telemarketing calls, though it may not stop all scam calls. (firstbank.com)
Use Call-Blocking and Filtering Tools: Many phone carriers offer services to detect and block unwanted robocalls. (consumer.ftc.gov)
Enable Call-Labeling Features: Some devices and apps can label potential scam calls, helping you identify them more easily.

How Can You Identify Phishing Scams?

Phishing scams may come in the form of phone calls, text messages, or emails. Be suspicious of unsolicited communications requesting personal information. Banks never ask for sensitive information like Social Security numbers or account passwords via email or text. (www2.helpwithmybank.gov)

What Are the Red Flags of Bank Impersonation Scams?

Spoofed Caller ID: Scammers can fake caller ID information to appear as if they're calling from your bank. (legalclarity.org)
Requests for Sensitive Information: Legitimate banks will never ask for your full Social Security number or PIN over the phone.
Unusual Payment Requests: Be wary of calls demanding immediate payment through unconventional methods.

How Can You Report Suspected Scams?

Federal Trade Commission (FTC): Report fraudulent calls to the FTC at ReportFraud.ftc.gov.
Your Bank: Inform your bank about any suspicious calls to help protect other customers.
State Authorities: Contact your state's consumer protection office to report scams.

How Can You Stay Informed About Scams?

Educational Resources: Visit the Federal Deposit Insurance Corporation (FDIC) for information on bank impersonation scams.
Consumer Alerts: Stay updated with alerts from the Federal Trade Commission (FTC).

By staying vigilant and following these steps, you can significantly reduce the risk of falling victim to bank scam calls.