A call that appears to come from your bank may actually be a scammer. Even the phone number and caller ID can be faked.
Scammers increasingly impersonate banks, credit card companies and other trusted businesses to create panic and pressure people into handing over money or sensitive information.
Here are five rules that can help:
1. Don’t trust caller ID
A familiar company name or phone number doesn’t prove who’s calling. Scammers can spoof caller ID information.
2. Contact the company yourself
If someone claims there’s a problem with your bank account, don’t use the number they provide. Call the number on the back of your card or an official statement instead.
3. Never share security codes
Never give a caller or texter a verification code, password or other sensitive information because they claim it’s needed to protect your account.
4. Stop when you’re being rushed
Requests to immediately move money, withdraw cash, buy gift cards or keep the situation secret are major warning signs. Slow down and verify what’s happening independently.
5. Create a family code phrase
AI and other technology can make it easier to imitate someone’s voice. A private family code phrase can help verify whether an unexpected call from a relative is genuine.
The smarter take: The most important thing you can do is take control of the conversation. Don’t let an unexpected caller dictate what you do next. Hang up, verify independently and then act.