Editor’s note: This entry is part of our ongoing series on protecting yourself against fraud. You can read additional posts about fraud here.
One of the most common scams right now, according to our fraud prevention experts, involves someone calling or texting you pretending to be with a financial institution.
The fraud attempts are so sophisticated now that the scammers can even spoof a financial institution’s phone number so your phone’s caller ID will make it look like the call is legit.
What they tell you next may take on different forms…
- They may tell you there is some problem with your account that demands urgent action like sending money via a person-to-person payment app. (They may also ask you to purchase gift cards and send them the codes.)
- They may ask you to verify personal information your financial institution should already have on file, like your username/password, account numbers, card numbers, etc.
- They may tell you your money isn’t safe and that you should withdraw it and move it to another account.
- They may ask you to follow a link in a text message they send you.
- They may ask you to download an app so they can troubleshoot your device.
Tip #1: Don’t trust your caller ID. If you aren’t sure if the call is truly from Avadian, hang up and call Avadian directly at 1.888.AVADIAN (1.888.282.3426). When calling us, don’t call back using the potentially spoofed number. Enter Avadian’s number manually.
Tip #2: Urgency is a red flag. If you feel pressured to take immediate action, simply hang up and call Avadian directly.
Tip #3: Never share your password, usernames, Social Security Numbers, or debit/credit card numbers with someone who calls you.
Tip #4: Never send money to someone you do not know.
Tip #5: When in doubt, don’t…
Tip #6: Think before you click.
Equal Housing Opportunity Lender