Protect Yourself from the Latest Bank Phone Call Scam

Posted on Thursday, May 23, 2024 in Identity Theft Prevention

Protect Yourself from the Latest Bank Phone Call Scam

Beware of the latest bank robocalling scam, which involves scammers impersonating either as bank fraud departments, bank investigators, or bank security departments. These scammers will try to trick you into telling them your personal data so that they can hack into your account and drain it of all of your money.

Federal Trade Commission data for 2023 shows that consumers reported losing nearly $2 billion to impersonation scams – with many scammers impersonating banks in order to trick victims into sending money, giving up access to their online banking accounts, or providing other sensitive information.

This type of crime is impacting Iowans, with reports of scam phone calls being received every day, which means everyone needs to be aware of the red flags and be extra vigilant to prevent becoming victimized.

Fraudsters know that many people will act quickly if they receive a call claiming there’s an issue with their bank account.

How to spot the red flags of a bank phone call scam

The scammer claims to be calling from your bank. The caller ID may even look like it’s coming from your bank. Scammers can spoof their phone number to look like it’s an official bank number.
The scammer claims fraud on your account. It’s likely that the scammer will claim there was suspicious activity on your account or unauthorized access to your online banking account. In addition, the scammer may even manufacture a fraudulent “pending charge” to make the scam seem legitimate.
The scammer asks for your personal information and password. The scammer will use their fabricated fraud claims to ask you for your online banking sign-in credentials. They might ask you for your username, password, security questions and answers, and one-time authorization codes. This is a major red flag and should alert you that this is a scam. First National Bank will never call you and ask you for this information. On the other hand, if you call the bank’s Customer Service Center directly, our representatives may ask you questions necessary to verify your identity. This is to ensure that we are talking directly to our customers and not an imposter. Our staff will never ask you for your passwords.
The scammer uses your information to take control of your account. It’s important that you never tell anyone your online or mobile banking sign-in information. Scammers can use this information to hack into your account and reset your sign-in credentials.

What to do if you get a suspicious phone call

You should never share the following information with anyone. Social Security number, debit card number, one-time password or code, username, password, and online banking security questions and answers.

Hang up and call us directly. If you receive a suspicious or unexpected call from someone claiming to be with the bank, hang up immediately and call First National Bank’s Customer Service Center at 515-232-5561 as soon as you can.
Monitor your account activity daily. It is a good idea to monitor your bank accounts on a regular basis, and even more frequently if you receive a suspicious call like this. First National Bank offers two free online and mobile banking tools to help you monitor your accounts and debit card. Card Management is a feature that monitors your debit card usage and can be used to shut off your card if it is misplaced or you spot fraudulent activity. Alerts & Notifications is another tool that monitors all of your bank transactions, like deposits and withdrawals and ATM transactions. Information about each of these tools is available on our website at FNB247.com or speak to a Relationship Banker to assist you with the set-up.
Report any fraudulent activity immediately. If you notice an unauthorized transaction on your account or debit card, please contact Customer Service immediately at 515-232-5561. It’s important to report unauthorized transactions as soon as possible to stop fraudulent activity as quickly as possible and to prevent further losses. You can also shut off your debit card immediately using Card Management through online or mobile banking.

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