The Federal Communications Commission this week published an advisory warning consumers about bank impersonation scams and offering tips for avoiding them.
Bank impersonation scams account for the highest losses of any impersonation scam category, with victims often losing everything in their accounts, according to the advisory. The scams typically pressure consumers to take immediate action to secure their account or protect their money.
“Banks will never call or text and ask you to move your money to protect it,” the FCC said.
If you get a call claiming to be from a bank or credit card company, hang up and call back using the customer service phone number on your account statement, the FCC said. It also offered other tips, such as never sharing account numbers, Social Security numbers, passwords, PINs, or other sensitive information.
In related news, the American Bankers Association offers a free campaign for banks, #BanksNeverAskThat, to educate consumers about impersonation scams.
