Even in today’s online, high-tech world of digital communications, phone scams are alive and well, and out there to take advantage of innocent people. The Federal Trade Commission (FTC) reviewed about 1.25 million complaints in 2020 (nearly a third of the calls were about scammers), and reported that the median loss from successful phone scammers as $1,170 in 2020. Be aware and prepared to protect yourself and your sensitive information from these phone scammers.
Phone scams in all varieties, from winning a prize to law enforcement threats. If it sounds too good to be true, then it probably is not.
Typical bank scammers will call to notify you that your account has been “compromised” or been hit by fraud. They will try to ask for information to confirm your identity. NO BANK will ever call to ask for your personal information.
These scammers will be offering to lower your interest rates on credit cards, loans, or student debt. They are focused on getting you to share your account information or personal identity information, and may want you to provide a payment upfront for their services. They will prey on people with poor or bad credit history by offering quick credit solutions.
In the current COVID-19 pandemic, scammers posing as charities are on the rise. These scammers are asking for donations to help with disaster relief, or other charitable causes. They are focused on extracting money from you, either one-time or getting access to your credit card information to run up charges.
These scammers promise a “free trial” but turn-around and start billing you monthly for products every month until you cancel.
There are many signals you can pick up to identify a phone scam. Here is a list to keep in mind whenever you receive a call from an unknown caller.
There are several things you should do if you get a suspicious call that sounds like a scammer.
To protect our customers, we will never call you directly for personal or financial information. You should always ask a bank caller to provide you with their name, then call a number listed on the back of your credit or debit card, or from our website at www.myhomebank.bank.
Be prepared to answer some security questions when you call a confirmed bank number. We do this to provide you with extra security to protect your account information.
Follow these simple steps to protect your identity and financial information.