FBI Warns of ‘Banking Spoof Call’ Scams. Here’s How It Works

The FBI is warning Americans to beware of scammers who are using banks’ phone numbers to trick people out of thousands of dollars.

“Banking spoof call” scams involve people disguising their actual number so that the caller ID displays a financial institution’s contact information, FBI officials told Chicago-based TV station ABC 7 and Fox Business.

The schemes are designed to trick victims into revealing sensitive information, subsequently allowing scammers to transfer money to various accounts under the guise of a bank representative, according to the agency.

One victim told ABC 7 she lost $40,000 after someone calling from a number that matched the one on the back of her Chase debit card convinced her she needed to transfer her money to a “secure” account.

“They read me my account number,” she told the news outlet. “They had my account balance down to the penny.”

How to Avoid Being Scammed

The FBI recommends people do the following to avoid getting scammed:

Set up two-factor or multi-factor identification on your accounts
Examine email addresses and URLs, and look out for misspellings or anything that looks out of the ordinary
Don’t click on unsolicited links that are sent in emails or text messages

The FBI also emphasized that companies will not ask for your username or password.

“We urge all consumers to ignore phone, text, or internet requests to move money or gain access to their computer or bank accounts,” Chase Bank told ABC7. “Banks and legitimate companies won’t make these requests, but scammers will.”

Anyone who has experienced a potential spoofing or phishing scam should report it online to the FBI’s Internet Crime Complaint Center.