SMS Fraud for Bank Account Recovery Verification
SMS fraud is a type of fraud where a criminal sends a text message to a victim, posing as a bank or other financial institution. The text message typically contains a link or a phone number that the victim is asked to click on or call. When the victim clicks on the link or calls the phone number, they are taken to a fake website or call center that looks like the real thing. The victim is then asked to enter their personal and financial information, such as their bank account number and password.
SMS fraud is a serious problem that can lead to significant financial losses for victims. In 2020, the FBI reported that SMS fraud cost Americans over $80 million.
How to avoid SMS fraud
There are a number of things you can do to avoid SMS fraud, including:
- Never click on links or call phone numbers in text messages from unknown senders. If you receive a text message from a bank or other financial institution, go to the institution’s website yourself and log in to your account. Do not click on any links or call any phone numbers in the text message.
- Be wary of text messages that ask you to verify your personal or financial information. Banks and other financial institutions will never ask you to verify your personal or financial information via text message. If you receive a text message asking you to do so, it is likely a scam.
- If you are unsure whether or not a text message is legitimate, contact your bank or other financial institution directly. You can find the phone number for your bank or other financial institution on their website or on the back of your debit or credit card.
What to do if you are a victim of SMS fraud
If you are a victim of SMS fraud, you should take the following steps:
- Contact your bank or other financial institution immediately. Report the fraud to your bank or other financial institution and ask them to freeze your account.
- File a police report. You should file a police report about the fraud with your local police department.
- Contact the Federal Trade Commission (FTC). You can report the fraud to the FTC online at https://reportfraud.ftc.gov/ or by calling 1-877-ID-THEFT (1-877-438-4338).
SMS fraud is a serious problem, but it can be avoided by taking the necessary precautions. By following the tips in this article, you can protect yourself from SMS fraud and keep your financial information safe.
