Phishing attacks use “spoofed” e-mails and fraudulent websites designed to fool recipients into divulging personal financial data such as credit card numbers, account usernames and passwords, Social Security numbers, etc.  By hijacking the trusted brands of well-known banks, online retailers and credit card companies, phishers are able to convince recipients to respond to them.

Phishing scams are taking a toll on consumers, including bank customers.  Every day, thousands of people fall for fraudulent emails, texts, and calls from scammers.  The communication is designed to trick you into providing confidential information (like account numbers, passwords, PINs, or birthdays) either online or over the phone to someone imitating a bank employee.  Victims of phishing scams can lose hundreds, even thousands of dollars.  The FTC estimates that consumers lost $1.9 billion to phishing schemes and other fraud in 2019 and the pandemic has only increased the threat.  Scammers are taking advantage of the fear and uncertainty surrounding COVID-19, as well as the expanded use of digital banking platforms, and tricking consumers into giving up their personal and financial information.

Spotting phishing scams

  • If you receive an email, text, or phone call asking for confidential information, it’s a definite red flag. It’s better to be safe than sorry.  End the call, delete the text, and trash the email, because banks never ask that!

  • You may be asked to verify confidential information if you call your bank, but never the other way around. If you receive an incoming call from someone claiming to be your bank, the safest thing you can do is hang up and call your bank’s customer service number.

Additional Consumer Tips:

  • Don’t click on suspicious links or attachments. Visiting unsafe, suspicious or fake websites can lead to the intrusion of malware. Be cautious when opening e-mails or attachments you don’t recognize even if the message comes from someone in your contact list.

  • Never give out your personal financial information in response to an unsolicited phone call, fax or email, no matter how official it may seem.

  • Do not respond to email that may warn of dire consequences if you do not validate your information immediately.  Contact the company to confirm the email’s validity using a telephone number or website you know to be genuine.  Clicking on a link could give a criminal access to your personal information.

  • Check your credit card and bank account statements regularly and look for unauthorized transactions, even small ones.  Report discrepancies immediately.

  • When submitting financial information on a website, look for the padlock or key icon at the top or bottom of your browser, and make sure the web address begins with "https."  This signals that your information is secure during transmission.

  • Report suspicious activity to the Internet Crime Complaint Center, a partnership between the FBI and the National White Collar Crime Center.

  • If you believe you have responded to a spoofed email, contact your bank immediately so they can protect your account and your identity.  Visit our Fraud Resource Center for information regarding reporting identity theft and fraud.