Bank scam calls are a pervasive threat, with Americans losing over $1.1 billion to phone scams in 2023 alone. (battencyber.com) These scams often involve fraudsters impersonating bank representatives to steal personal and financial information. To protect yourself, consider the following strategies:
How Can You Recognize Bank Scam Calls?
Scammers employ various tactics to appear legitimate. Be cautious if the caller:
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Requests sensitive information: Legitimate banks will never ask for your full Social Security number, PIN, or online banking password over the phone. (legalclarity.org)
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Pressures you to act quickly: Urgent demands to transfer money or provide personal details are common red flags.
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Instructs you to download software: No bank will ask you to install remote access apps during a call. (legalclarity.org)
What Are Effective Call-Blocking Tools?
Utilizing call-blocking applications can significantly reduce unwanted calls. These apps filter out known scam numbers and alert you to potential threats. The Federal Trade Commission recommends using such apps to scan for and eliminate spam text messages and calls. (robokiller.com)
How Can You Block Unwanted Calls on Your Phone?
For iPhone Users:
- Silence Unknown Callers: This feature silences calls from numbers not in your contacts. To enable:
- Go to Settings > Phone > Silence Unknown Callers.
For Android Users:
- Call Screening: Android now warns before you open banking apps during risky calls. This feature detects if you're on a call with an unknown number while attempting to open a banking or payment app, pausing the action and displaying a warning. (androidcentral.com)
For Landline Users:
- Call-Blocking Devices: Consider installing devices that block robocalls and unwanted calls. These devices can screen calls and block known scam numbers. (consumer.ftc.gov)
What Should You Do If You Receive a Suspicious Call?
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Hang Up Immediately: If you suspect a call is a scam, hang up without engaging.
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Verify the Call: Contact your bank using a verified number from their official website or your bank statements to confirm any claims. (legalclarity.org)
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Report the Scam: Inform your bank and report the incident to the Federal Trade Commission (FTC) to help protect others. (consumer.ftc.gov)
How Can You Educate Yourself Further on Scam Prevention?
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Stay Informed: Regularly read updates from trusted sources like the FTC and your bank about common scam tactics.
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Participate in Community Workshops: Many communities offer free workshops on fraud prevention.
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Use Trusted Resources: The Better Business Bureau provides tips on recognizing and avoiding robocalls. (bbb.org)
By staying vigilant and utilizing available tools, you can significantly reduce the risk of falling victim to bank scam calls.
Highlights:
- Banks Aren't Doing Enough to Protect Customers From Scams, Published on Monday, March 18
- Android now warns before you open banking apps during risky calls, Published on Wednesday, December 03
