The Wisconsin Bankers Association (WBA) is warning Wisconsinites of increased bank fraud and encourages citizens to continue their efforts to spot scams by criminals seeking to obtain bank account or personal information. With greater frequency, Wisconsin banks see a variety of fraud activity targeting consumers, including recent attempts by bad actors to defraud customers through calls impersonating the bank. Many instances include “phone number spoofing” which makes the call appear as if it were from the bank itself. If a call seems suspicious, hang up and contact the bank directly using a verified number.
“Banks across Wisconsin go to great lengths to help protect customers by investing in anti-fraud tools and account security. Wisconsin bankers, law enforcement, and other state agencies do a good job on educating Wisconsin residents on the importance of protecting personal data and banking account information,” said Rose Oswald Poels, WBA President and CEO. “However, criminals are sophisticated in their spoofing of bank names on Caller ID and creating fake websites or text messages with bank logos to mislead customers into providing account access information or transferring money. Bank customers must be vigilant to protect bank account and personal information from criminals.”
The Wisconsin Bankers Association offers the following tips to help protect customers against scams or financial exploitation:
- Watch for these red flags of phishing in emails, calls, and text messages:
- They ask you to open a link you were not expecting
- They use urgent or fear-inducing language
- They send an attachment
- They request personal information like PINs, passwords, or social security numbers
- They pressure you to log into, or send money with, payment apps
- Write safer checks:
- Use permanent gel pens when you write a check
- Avoid blank spaces so criminals can’t fill them in instead
- Withhold personal information on your checks
- Take your mail directly to a U.S. Post Office location; do not use your mailbox at home or a free-standing blue drop box to send mail
- Attentively monitor your account activity on your online banking platform
- Regularly review your paid checks on your online banking platform, including ensuring the endorsement is correct and reflects the intended payee and amount
- Switch to your bank’s payment app or online bill pay instead of writing a check
- Follow up with payees to confirm they received and deposited your checks.
The best defense against scams is to stay informed. More information about how to spot scams and bank spoofing may be found at: https://www.banksneveraskthat.com/.
