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Tips to protect yourself from recent bank scams

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Posted at 12:26 PM, Nov 01, 2019
and last updated 2019-11-01 12:26:27-04

LANSING, Mich. — The Better Business Bureau is warning people to be wary about text alerts from their banks.

According to the BBB, a new tactic for scammers to gain access to bank accounts is to use a bank’s phone number to send a text message regarding account information, usually something regarding a fraudulent charge or a password reset.

“Scammers have software that can make their number look like any number they choose,” Melanie Duquesnel, BBB President & CEO, said. “You may think, how do they know which bank I use? Hackers can view past web traffic and easily identify which bank you use.”

Scammers will include a link in the text to "reset you password" or "unlock your account" but the link could actually be downloading malicious software to a person's phone.

Scammers may also pretend to be from a bank and call you seeking account information.

Here are some tips from the BBB to help protect yourself:

Don't respond, instead call your bank directly or go to their website and check your account for yourself.

Ignore repeated texts to respond "STOP or NO" since this is a common tactic to confirm scammers have an active number.

Consider how your bank normally contacts you. Is it by mail, phone, text, email? These are things to consider.

Use a two-factor authentication system. This provides an extra layer of security.

The last one may seem like common sense, but don't use the same passwords for all of your accounts. Switch it up to make it harder to scammers to hack you.

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