Fraudsters never stop looking for ways to get between people and their money. That’s why staying alert is so crucial, and it’s why Regions Bank is raising awareness of common scams.
One common scam is fraudsters pretending to be a reputable company. Their call, email or text looks like it came from your bank or some other well-known company. But it’s often what we call a “spoof.” For example, a fraudster may have a convincing story about why they need sensitive information, such as your bank account login and password. Further, they may ask you to dial a series of numbers on your phone.
These are actions that enable the fraudster to have calls to your phone forwarded to their phone. From there, not only do they have your account information, but calls that were intended for you can go straight to the fraudster instead. This means the fraudster can log into your online bank and schedule transfers out of your account and then receive any calls your bank may make to your phone to confirm those transfers.
Below are some preventative actions we encourage all consumers and businesses to keep in mind.
- Do not use personally identifiable information in your passwords. Scammers do their homework, often scouring social media for names, dates and identity markers.
- Do not use the same password on multiple sites. Remember, passwords should not be easy to guess.
- Routinely change passwords. Set a calendar reminder to change them and consider using a secure password manager.
- Change your password immediately if you are alerted to a potential breach or scam.
- Do not give your online banking username and password to others.
- Do not dial any numbers or make changes to your phone based on instructions from someone who contacts you about “problems” with your account.
- Take the time now to enter the best number for your bank in your contacts. That way, you know exactly who to call if you suspect a scam.
If you believe you are a victim, or if you have received a suspicious alert, call your bank. (Regions customers can call 1-800-787-3905.) Additionally, report any fraudulent activity to the IRS Internet Crime Complaint Center. Banks and other businesses do a lot to help keep customers safe. And those efforts are even stronger when you’re on guard as well.