Is That Really the Bank Calling? How to Spot a Scam. (2024)

FAQs

Is That Really the Bank Calling? How to Spot a Scam.? ›

Be wary if the caller emphasizes the authenticity of the caller ID or if there's an unusual haste in their requests. Legitimate organizations, particularly banks, have protocols that preclude them from asking for personal information or making unsolicited calls to move funds.

If someone contacts you claiming to be from your bank, but you didn't initiate the contact, proceed with extreme caution. Legitimate bank staff typically only contact customers regarding suspicious account activity or to follow up on a previous inquiry. They don't cold call to “confirm” personal information.

Beware of the latest bank phone call scam, which involves scammers impersonating bank call centers and fraud departments. These scammers will try to trick you into telling them your personal data so that they can hack into your accounts.

Having just your phone number doesn't give scammers direct access to your bank account. However, they can use it as a starting point for phishing attacks or SIM swap scams. If they succeed in these methods, they could potentially access your bank's 2FA codes sent via SMS.

It's only for you to log into your account. Anyone who asks you for your account verification code is a scammer. If someone asks you for your verification code, don't engage. Hang up.

A scammer contacts you pretending to be someone from your bank. The call may even look like it's coming from your bank because the scammer uses spoofing technology to disguise the number on your caller ID so it appears legitimate.

If the call is legit, they will leave a voicemail that you can handle at a later time. If you answer the phone and the caller or a recording asks you to hit a button to stop getting the calls, you should hang up. Scammers often use this trick to identify potential targets.

Be aware: Don't trust any unsolicited calls and verify the source of anyone who claims to be calling from your bank. If you receive a call from someone who says they're from your bank, take down their name and hang up.

U.S. Bank will never contact you by phone or email to ask for your account numbers, PIN numbers, or any other confidential information. U.S. Bank only asks you for confidential information to verify your identity when you initiate contact with us. To contact us online, type usbank.com on your Internet browser.

You could lose money

When scammers get you on the phone, they try their hardest to obtain your bank account passcodes, passwords, account numbers, or even answers to your security questions (like your mother's maiden name). If you accidentally reveal that information, hackers can drain your account.

What numbers should you avoid answering? ›

What numbers should you avoid answering? The most common area codes you should avoid answering calls from are 473, 809, and 900. Be suspicious of any international numbers and area codes unless you are expecting an international call.

Phishing attacks can occur through various channels, such as emails, messages, or phone calls. Hackers may attempt to deceive you into providing sensitive information, such as bank account details or login credentials, by posing as a legitimate entity.

Full Social Security Number

Banks may require the last four digits of your Social Security Number for identity verification, but they will never ask for the full number via text or phone. Providing the entire SSN to someone over an unsecured channel can expose you to identity theft and financial fraud.

How long does it take to verify funds on a check? Banks should usually be able to verify a check for you within a few minutes over the phone. You might have to take the time to go to the branch in person, however, as some banks require this.

Bank impersonation scams are a type of fraud in which scammers pretend to be bank representatives aiming to obtain personally identifiable information (PII) or trick people into sending money. Typically, these scams happen over phone calls, text messages, or emails.

A call loan is a type of loan where the lender can demand full payment of the loan at their request. A lender will call a loan if the borrower's credit has deteriorated, the borrower's collateral as lost value, or if the lender is worried about the borrower's future ability to make payment.

Comply With Applicable Regulations

A majority of financial institutions need to have a call recording system in place to ensure their risk and exposure is limited. If your financial service is regulated and required to record your phone calls, our system can be easily implemented into your current phone system.