FBI Issues Alert Regarding Rash of Sophisticated
Banking-Related Phishing Scams.

May 3, 2022

Cybercriminals are targeting people with increasingly sophisticated banking-related phishing scams, according to a recent alert by the FBI. Here are the basic outlines of the scam and some of the warning signs to look out for:

How the Scam Works

Targeting payment apps connected to bank accounts, the scammer tricks their victim into sending funds to accounts controlled by the scammers.

■ The scammer sends potential victims text messages that appear to be bank fraud alerts, asking if they initiated an instant money transfer of $5,000 (or some other amount).
■ If the person responds with a “no,” a follow-up text message is sent saying, “Our fraud specialist will be contacting you shortly.”
■ Posing as a fraud specialist, the scammer then calls the victim, instructs them to change credentials so the scammer can take control of the account, then convinces them to send “themselves” that amount under the pretext of “reversing” the fake instant payment transaction.

What Makes It More Sophisticated

Several factors make this scam more believable:
■ The scammers typically speak English without a discernible accent.
■ They call the victim from a number that appears to match the financial institution's legitimate 1-800 support number
■ The scammers often know details like the victim’s past addresses, social security number and the last four digits of their bank accounts.

How to Avoid Being Scammed

■ Be wary of unsolicited requests to verify account information.
■ Contact the bank’s fraud department through a verified number usually on their website or documentation.
■ Know that banks will not ask customers to transfer funds between accounts in order to help prevent fraud.
■ Be skeptical of callers that provide your social security number. There have been thousands of data breaches of the last 10 years and your information could have been stolen.

At Integrity Bank, we’re committed to providing our customers with a safe and secure banking experience. To learn more, call us today at 757-780-9100.