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Protect yourself from common bank impersonation scams: What you need to know
Protect yourself from common bank impersonation scams: What you need to know
An incoming call concerning your bank account is unsettling to say the least. Just the very nature of the call can cause you to feel flustered, but your next steps are so important. And they always include hanging up and contacting your bank directly by calling the number on the back of your card, your banker, or the Wintrust Fraud Team at 877-279-1300.
Criminals are increasingly impersonating banks, claiming your account is fraudulent and instructing you to transfer money to “resolve” the issue. Always remember: Wintrust will never ask you to move or send money to resolve a fraud issue.
It’s important to note that Caller ID (spoofing/vishing), emails, and texts (smishing) can appear as if they’re coming from Wintrust. The criminals have this capability. Stay vigilant! If something seems suspicious, don’t engage. Instead, call us immediately. We’re here to help.
Common call scenarios and how to proceed
Bank impersonators are skilled at convincing you that your money is at risk. It’s important to know what they’re likely to say. Below are some common scenarios.
Bank impersonators say things like:
- What is your password?
- Withdraw cash at a branch and deposit it into our account to protect your money (e.g., Bitcoin, ATM, crypto wallet, and new credit cards).
- If you hang up, I can’t help you. The hackers will clean out your account.
- Allow us remote access to your devices, and we’ll fix your fraud issue.
- You need to move money to stop fraud.
- You’ll lose all your money if you don’t move it right now!
- What is your full card number and PIN?
- I’ve sent you a text message containing a link for you to click on that will help with your fraud issue (smishing).
- I’ve just sent you a one-time passcode; please share it with me or text it back.
- The bank is in on it! You can’t trust the bankers.
Customer actions steps are always:
- Hang up and call your bank.
How to stay proactive against criminals
Again, we can’t stress this enough — if you’re the slightest bit unsure about a request, contact your bank, local banker, or the Wintrust Fraud Team. But before you even receive a call, here are some more helpful tips to protect yourself.
- Keep track of where your account is stored online and monitor who has access to it:
- Track Device Logins: Keep an eye on which devices have accessed your account (and when) looking out for any suspicious activity.
- View Stored Cards: Check the businesses where your cards are saved and monitor any recurring charges.
- Manage Shared Access: Track the apps and companies with which you share your account information and choose which accounts you want to share.
- Use Your Online Banking Security Alerts: Use online banking security alerts for real-time transaction notifications, customize alerts for specific activities, and stay informed about potential fraud for better financial oversight and peace of mind.
- Use strong, unique passwords and avoid using your birthday or pet’s name. Use a password manager to safeguard your credentials.
- For more information, you can use the following resources:
- Recognize and FTC Impersonator: consumer.ftc.gov/
- Fraud Resources: occ.treas.gov/topics/consumers-and-communities/consumer-protection/fraud-resources/index-fraud-resources.html
- Fraud and Scams: consumerfinance.gov/consumer-tools/fraud/
- FBI: Common Frauds and Scams: fbi.gov/how-we-can-help-you/scams-and-safety/common-frauds-and-scams
- Internet Crime Complaint Center: https://www.ic3.gov/
Please note: Once your funds are transferred to criminals, it is highly unlikely that we can reverse the transaction and recover your funds. Help us keep your money safe from criminals — pass this info on to your family members and stay alert, stay safe, and protect yourself from banking scams!
