ABA Foundation, FTC release consumer education infographic on payment app scams

The American Bankers Association Foundation and the Federal Trade Commission today released an infographic with information to help consumers protect themselves when using mobile payment apps and services. The infographic, developed jointly by the ABA Foundation and the FTC, is part of an ongoing series educating consumers about scams.

To avoid being scammed, consumers should not click on links in an unexpected email, text message or direct message asking them to send money or provide personal information, such as their username, PIN or password, the infographic notes. In addition, consumers should confirm that they know the person to whom they are sending money and double check all information before sending funds. The infographic also provides consumers information about how to protect their accounts.

“Remember that your bank will never call, text or email you and ask for personal information or direct you to send money to anyone, including yourself,” said ABA SVP Paul Benda. “If anything sounds suspicious or unusual, trust your gut and contact your bank through a trusted channel like your mobile app or the number on the back of your debit card.”

To learn more about the banking industry’s efforts to raise consumer awareness around phishing threats, including additional tips on spotting scams, visit BanksNeverAskThat.com.