It starts with an unexpected call or text warning you that your money is at risk. The message sounds urgent: “There’s fraud on your account. We can help you stop it.” Your pulse quickens, and the caller senses your fear.
Stop. Take a breath. This moment—your panic—is exactly what scammers are counting on. Fraudsters use fear to pressure you into acting quickly before you have time to think. They often sound convincing and may already know personal details such as your name, address, or the last four digits of your card. But this information alone does not make them legitimate. Criminals routinely steal or purchase personal data from the dark web to use in scams.
To protect yourself during these high-pressure moments, follow these practical tips:
WHAT TO DO
Get Details. Ask the caller where they’re contacting you from, then hang up.
Verify. If you have an account with the institution they claim to represent:
• Contact them directly using their official app, website, or the phone number printed on the back of your card.
• Do not rely on numbers provided by the caller.
Talk to Someone You Trust. Scammers often insist you keep the call secret. A legitimate institution will never tell you to hide information from friends or family.
WHAT NOT TO DO
Do Not Share Personal Information. Never give your account numbers, Social Security number, PINs, or other sensitive details over the phone to an unexpected caller.
Do Not Click Links in Suspicious Texts. If you receive a text claiming fraud on your account, avoid the link. Use your financial institution’s official app or website to check your account instead.
Do Not Allow Remote Access. No legitimate financial institution will ever ask to remotely access your phone or computer.
Do Not Share Verification Codes. These codes are for you only. Giving them to someone else gives them access to your accounts.
Do Not Withdraw Money to “Protect It”. If someone instructs you to withdraw your money and deposit it into a bitcoin or cryptocurrency ATM, it is a scam. A real institution will never tell you to move your money this way.
For more on how to spot and stop scams, visit the Federal Trade Commission at consumer.ftc.gov
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