Five Banking And Payment Scams, Watch Out For These!
Citizens are being warned to watch out for bank scams in 2023, whether they are being offered online bargaining or a “get rich quick” scheme. According to a published post by Yahoo Finance, scammers are relentless when they want our personal information and especially our money, Money editor, Jenny Ross stated.
And while their tactics will no doubt continue to evolve, we think these scams are the main ones to watch out for, She added. She also said that banks will never require you for personal information, nor will they even try to hurry you into making a decision.
If this happens to you, whether by text, email, or over the phone, think critically about what they’re asking. If it looks too good to be true, it’s most likely not.
Citizens are being warned to watch out for bank scams in 2023, whether they are being offered online bargaining or a “get rich quick” scheme. (Photo: Yahoo Finance)
Here are some scams people are warned to be cautious about in 2023:
1. Money mule requests
Money mule requests happen when people, either knowingly or unwittingly, permit a criminal to utilize their bank account to move money that has been stolen. These are often seen in emails or social media posts.
The tactics include sending funds “in error” which the target is asked to return to a different bank account, asking people to apply for credit or bank cards on behalf of another person, or manipulating people to move money sent to their account as a “favor”. Offenses for this kind of scam can result in up to 14 years of imprisonment.
2. Card Theft
Consumers are warned to remain vigilant by being extremely cautious on financial accounts and personal credit reports, immediately notifying banks of anything unusual. Banks will usually offer free balance and payment text or email alerts. The consumer group said that ATMs located inside bank branches are less likely to have been tampered with.
3. Fake apps that target bank accounts
People should read reviews of apps and developers as these might give them an idea of how legit these are.
4. Spoof calls or texts
A common technique deployed by scammers which imitates legitimate companies, often banks. The fraudster may also make automated calls with prerecorded messages asking people to press numbers on the keypad to speak to them about an issue, such as payments.
Criminal gangs will usually have personal details about the victims already, making the scam more believable. Fake texts are also a way of convincing people to click on links that can at first appear promising.
People should never immediately trust the caller ID that comes up on a call. Banks will never require your personal information to be given over on the phone. Contact your bank or card issuer on a trusted method if there are concerns about the authenticity of a message.
5. Online purchase scams
Criminal gangs pay for fake or misleading adverts online in a bid to attract unsuspecting victims, usually by offering unbelievably low prices for high-value items, such as laptops and mobile phones.
Obvious signs to be wary of are fake websites that may include spelling and grammatical mistakes and a lack of contact details. People are suggested that they should stick to trusted retailers and remember that paying via bank transfer may offer less protection than paying by card.
READ ALSO: As SNAP Benefits Dropped Due To Demand Surge, Arizonans Worries About Their Food Stamps
