Knowledge is a powerful defense. Check out these trending scams
Trending scams
Tech support scams
“They needed remote access to remove a virus from my device”
How it works:
- Initial Contact: Scammers reach out, via computer pop-up or phone call, claiming there is an issue with your device.
- Deceptive instructions: You are instructed to provide remote access to the device and to download an app to fix the issue.
- Access to personal information: Once you grant remote access or download the app, the scammer has access to your personal information. They can install malware on your device and demand a payment before they give back your access.
Help protect yourself and your money
No matter the reason given, be cautious about granting device access or downloading unfamiliar apps to fix issues with your devices. Run a full system virus and spyware scan and power off the device. or contact us ASAP.
Investment Scams
“They guaranteed a quick return on the investment, and I was receiving those returns in the beginning”
How it works:
- Initial Contact: The scammer will reach out through social media, text or email with a unique investment opportunity or a chance to get rich quick.
- Deceptive instructions: You’ll be convinced to invest your money and will start to receive small returns.
- Fake returns: You’re then encouraged to invest larger sums of money based on the returns you are receiving but suddenly all communications stop.
Help protect yourself and your money
Always validate investment opportunities. Use caution if asked to provide personal or financial information, especially if asked to send money through digital currency or instant money transfers.
Online sales
“I thought I’d scored really hard-to-get tickets”
How it works:
- Initial Contact: Scammers create a fake website or post a “great deal” on social media for an item you’re had your eye on.
- Deceptive instructions: They ask you to pay in less common ways such as cash, gift cards or wire transfers.
- Pressured to act: You’ll be pressured to act quickly so you don’t miss out on the deal.
Help protect yourself and your money
Slow down and use caution if pressured to act quickly. Research the seller and products independently, check reviews for possible scam notices. Most online promotions that sound too good to be true – typically are.
Imposter scams
“Your package was returned, and you need to reschedule your delivery”
How it works:
- Initial Contact: You receive a communication about an issue – it may be with a delivery, your account, a family member or a device.
- Deceptive instructions: You may be urged to provide information such as a code, or take an action such as provide remote access, move money to another account or digital wallet, ignore warning messages or input *72 or **21 in the phone.
- The scammer wins: After following the instructions, the scammer now has access to your money, and it’s unlikely you’ll see your money again.
Help protect your money – pause, verify, help prevent scams
Bank of America will never ask you to take these actions. Verify all requests for information or money. Talk to your friends and family about the tactic’s scammers use.
Trending Scam Examples
Multi-step Scams
Scammers are now combining multiple scam types in a phased approach to gain your trust and make scams more convincing.
- Tech Support Scam: An impersonator claims to be from a legitimate tech support company, saying your computer has been hacked. They ask you to call a number and download software for remote access to resolve the “issue.” Then, they ask you to log into Online Banking to look for fraudulent charges.
- Bank Imposter: Next, an imposter claiming to be from your bank calls, saying fraud is happening on your account. They instruct you to move money to a “safe account,” such as one with the Federal Reserve or another U.S. government agency.
- Government Imposter: Finally, another imposter claiming to be a government official calls to confirm the transaction. They may even send an email or letter to make the scam look more legitimate.
Tip: Don’t download software or provide remote access to anyone you don’t know. Your bank will never call you to request that you move money to protect yourself from fraud.
Imposter Scams
Scammers may pose as businesses or people you know, like your bank, utility company, phone provider, or even a friend or relative. They spoof legitimate phone numbers to call or text, telling you to send funds using online or mobile banking. They may tell you to ignore scam warnings and alerts. If you share information, they may access your banking information and enroll in new products or services in your name.
Tip: Stop and verify. While your bank may send you a text to validate unusual activity, they will never contact you to request you share a code over the phone or send money, including through Zelle®.
Threat of Harm Scams
Scammers claim to have access to you or someone in your family and threaten harm if you don’t send money immediately. They may use technology to impersonate your loved one’s voice to manipulate you into transferring funds.
Tip: Use a “safe word” that only you and your family members know to validate any request for instant money transfers. Contact your bank to report the event, and law enforcement if you feel you are in immediate danger.
Social Media Scams
Cyber criminals use social media platforms to lure you into sharing personal information or scamming you out of money.
Tip: Be mindful about sharing personal information on social media. If something seems too good to be true, it probably is.
Package Delivery Scams
You receive an email or text indicating there’s an issue with your package or a failed delivery attempt. You’ll be asked to click a link to pay a small fee or provide personal information.
Tip: Do not open unfamiliar links for payment or personal information, as this may be a phishing attempt.
Donation Scams
Be cautious if asked to donate money in person or to a cause using your phone. Scammers may ask you to log into your banking app and then hand over your phone to input the charity’s information, but they may actually be sending money to themselves.
Tip: Don’t hand over your device to anyone to complete a transaction and never ignore bank warning messages.
Investment Scams
Be wary if contacted by “investment managers” or receive unsolicited requests presenting a “great investment opportunity.” Offers that promise guaranteed returns or the chance to get rich quick are likely scams.
Tip: Always validate requests for money, research investment managers/offers, and use caution if asked to provide personal or financial information, especially if asked to send money through digital currency or instant money transfers.
Tech Support Scams
If you get an unsolicited request to remotely access your computer or mobile device, it’s probably a scam. Scammers often pose as employees of familiar companies and ask you to provide remote access or download an app.
Tip: Never grant device access or download any app without confirming their identity by calling a verified phone number (not one they provide to you).
Compromise Scams
Scammers may target you through a fake business, social media, or email account. They may use a hacked or fake account that looks legitimate to trick you into sending funds.
Tip: Never trust unknown individuals. Verify everything. Give all requests for funds a second look. Invest in antivirus software that can flag suspicious emails and websites.
Natural Disaster Scams
Following a disaster, unlicensed contractors may canvas impacted areas, promising quick clean-up or repairs. They may ask for payment upfront and not show up to do the work.
Tip: Do your research, get multiple quotes, and make sure contractors are licensed. Use caution if pressured to pay upfront or sign over insurance claims.
AI Scams
Scammers may use AI to impersonate a loved one, claiming they are in danger and need money immediately.
Tip: Use a “safe word” that only you and your family members know and stay vigilant about requests to send money through untraceable means.
Romance Scams
Romance scammers establish a relationship with you online and make an emotional plea asking you to transfer money, typically through a payment app, wire transfer, or gift cards.
Tip: Be vigilant about requests for money from someone you recently met, especially if asked to send via untraceable means.
Tax Season Scams
Scammers may impersonate a government official, telling you that you owe money or need to provide account information for a refund.
Tip: The IRS won’t contact taxpayers by email, text messages, or social media channels to request personal or financial information. Always verify requests for information.
Rental Scams
Scammers may take over listings and change contact information, leading you to show up to a new home or vacation rental that doesn’t exist or is double-booked.
Tip: Do your research. Be cautious if pressured to send a security deposit or make a payment without a background check or signing a contract or lease.
Knowledge is a powerful defense. Check out these trending scams
