Consumer Experts Warning About an Uptick in Scam Messages

Tuesday, July 16th, 2024 -- 3:00 PM

(WBAY) If you get a text about suspicious activity on your bank account, double-check.

According to WBAY, consumer experts are warning about an uptick in scam messages. The Federal Trade Commission says reports of copycat bank fraud alerts are increasing. In one example of a scam message, a text claims to be a Wells Fargo Bank Fraud Alert.

It asks, “Did you attempt a purchase at Walmart for $1,263? Reply Yes or No.” If you reply, you’ll likely get a phone call from the “fraud department.” They’re scammers.

Another popular scam is a text with a fake number to call regarding suspicious activity on your account or telling you that your bank account is temporarily locked. Scammers are counting on you to react out of fear. Experts say STOP and check it out. Don’t respond directly to bank security messages.

Don’t call back numbers or click on links. Never agree to move or transfer your money to “protect it.” Never share personal information, financial information, passwords or a verification code. Instead, call the phone number on your bank statement or one you know is your bank.

Monitor your accounts. If you see any suspicious transactions, even very small amounts, report it to your bank or credit union immediately. Share this advice with others. It could protect your relatives and friends and their money.

The FTC says in 2023 consumers lost more than $10 billion due to fraud, 14% more than the year before.

Feel free to contact us with questions and/or comments.