Scammers are constantly planning their next scheme to not only steal your personal and financial information but also your money. The latest scam usually involves someone acting as if they have spotted fraud or criminal activity on one of your bank accounts and offering to help “protect” your money. They may ask you to share verification codes, and then advise you to move money from your bank, investment, or retirement account. Meanwhile, it is all a scam!
To help protect those you care about, and their well-earned money, be sure to share these top tips so scammers can be stopped right in their tracks.
1. Never move or transfer money. Your funds are perfectly fine where they are, no matter what the scammer says or how urgent they make it seem. By moving your money, you are at risk of losing it, not protecting it. Anyone who says you have to move your money in order to protect it is a scammer.
2. Never share a verification code. These specific codes are used in online banking to prove that you are actually who you say you are. If you share that specific code, the scammer can then use it to pretend they are you. No one — especially someone from your bank’s fraud department — will ever ask for you for a verification code.
3. Stop and think about it. If you’re unsure if it’s a scam or not, call your bank, broker, or investment advisor directly. Call the number that’s on your statement — never the phone number that contacted you, which will take you right to the scammer who’s trying to steal your money.
4. Report it. If you receive a call like this, tell your bank immediately, especially if you ended up moving money or shared a verification code. Then report it to the FTC.
Scammers typically make the situation hard to follow in their attempt to make the scam more complicated. For more tips to help protect your personal and financial information, check out our other blogs about Privacy & Cybersecurity. If you think you may have fallen victim to a scam, we’re here to help. Contact us at 866-224-1379.