Bank scams: Scammers pretend to help – and take your money.

Consumer scams are getting more creative with each passing year. the Federal Trade Commission (Opens in a new tab) (FTC) reported that consumers lost more than $5.8 billion to fraudsters in 2021, up more than 70 percent from the previous year. Data for 2022 is expected to be even higher when released, as criminals experiment with more sophisticated and innovative scams.

One of the latest games powered by technology involves scammers calling you and pretending to be your bank, in order to steal sensitive data and take over your accounts. So how do these scams happen, and how can you protect yourself?

Bank scams: how they work

the Detroit Free Press (Opens in a new tab) Reports of a recent spike in scammers targeting checking and bank accounts, particularly during the recent holiday shopping period. A recent trend is to impersonate or “impersonate” bank fraud departments.

Leave a Comment