Banks Warn Customers About Text Message Scams

PROMO 660 x 440 Tips - Scam Alert Caution Sign - iStock
Published Wednesday, March 23, 2016

Bankers across Colorado are warning their customers to beware of a phishing scam that could compromise their personal information - and their finances.

Fraud departments at a handful of banks report of a number of customers receiving a text message to their cell phones, alerting them to alleged fraudulent activity and urging them to update their profile information with their bank, using a provided link.

"No legitimate financial institution will ask for your personal information when reaching out to you," said Jenifer Waller, senior vice president of the Colorado Bankers Association.

Should you receive such a message, do not click on the link or forward it to anyone and certainly don't respond to it, Waller said. "Delete it immediately."

In response, banks want to remind their customers of the following tips to protect themselves against fraud:

  • ?  Beware of phishing emails, texts, and phone calls - these can appear to be from your bank or online merchant asking for account information. Do not reply or click any links or attachments. No legitimate financial institution or online merchant will ask for your personal financial information when reaching out to you.

  • ?  Monitor transactions on your account closely - log into online banking, download a mobile banking app and/or set up mobile alerts on a secure device.

  • ?  Never write down your PIN - memorize it as soon as you get it or change it to a number you can easily remember, but that others could not easily identify.

  • ?  Review your credit reports annually for accuracy. Call any one of the three credit reporting agencies to receive your free annual credit report:page1image17976

o Equifax(r), 1.800.525.6285, equifax.com
o Experian(r), 1.888.397.3742, experian.com
o TransUnion(r), 1.800.680.7289, transunion.com

If you spot any unauthorized charges on your bank account, contact your financial institution immediately.