One of the strangest parts about being a smartphone owner is getting texts and notifications from numbers or addresses you do not know.
Although these might be genuine people trying to reach out to you from time to time, there is also a very strong chance they could be scammers or hackers trying to get valuable information from you. One of the more modern text scams is one that is disguised as a message or alert from your bank. Using information from tech and financial experts, we’re breaking down scammer bank texts and how to dodge them. Read more about it below.
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Bank Scammer Texts To Avoid
If you own a smartphone and have for a few years, there's a chance you've received some kind of spam text or fake text from a scammer or phishing scheme.
There is so much modern technology these days that as phones and apps have evolved, so have different scamming and hacking methods. In a scary way, many of them can be harder to spot, especially when they come in the form of text messages. One of today's most common scams comes from people sending fake bank notifications. These text notifications often use scary language, "alerting" people that something might be wrong with their account or that there's some kind of unknown charge.
"In 2022, consumers reported $330 million in losses due to text scams, according to the Federal Trade Commission (FTC)," wrote experts at the City National Bank. "Of all the types of text scams cited in the report, the most common were text messages claiming to be from a bank."
How To Spot A Fake 'Bank Alert' Text
Fake texts claiming to be from bank accounts often come in the form of some kind of 'alert,' making you think there's some kind of emergency or financial matter you have to attend to immediately. Sometimes, it can be a fraud alert, trying to convince you that there's some sort of suspicious activity happening with your account.
"Text scams, in addition to alerting you about a supposed unauthorized charge or another improper activity on your account, will usually ask you to click a link or respond 'yes' or 'no' to validate a charge," wrote experts at City National Bank. "If you click on the link, you will usually be taken to a form that looks like a real bank form and asks you to enter your personal information. In addition to stealing your identity, clicking the link may also install malware on your device, allowing scammers to access it and steal further information so they can commit more financial crimes."
As real as these texts may look, it's best to ignore them. Yes, your bank may contact you to let you know about account activity via text, but they will not get you to send back and forth personal information via text. Additionally, if you get one of these texts, you should contact your bank directly via its official phone numbers instead of following the text instructions.
In addition to deleting, blocking, and ignoring these scammer texts, you can always call your bank to get official account information from them.
