Beware of Bank Spoofing Scams Targeting Consumers

Scammers are using increasingly advanced tactics to impersonate banks and steal money from consumers. The FBI has warned about a rise in “bank spoofing” calls, where fraudsters manipulate caller ID technology to make it appear as though your bank is calling.

During these calls, scammers may claim there is fraud on your account, suspicious debit card activity, or a problem that requires immediate action. They often create a sense of urgency and may ask for:

• Online banking usernames or passwords
  Scammers may claim they need your login information to “verify your identity” or “stop fraudulent activity.” Legitimate banks will never ask for your full online banking credentials over the phone.
• One-time security codes sent to your phone
  Fraudsters often trigger a real verification code from your bank, then ask you to read it back to them. Sharing that code can give scammers direct access to your accounts.
• Debit card information
  Callers may ask for your full card number, expiration date, CVV code, or PIN under the guise of “confirming your account” or “issuing a replacement card.”
• Transfers to a “safe” account
  One of the most dangerous tactics involves convincing victims to move money to another account supposedly for protection. In reality, the “safe account” belongs to the scammer, and transferred funds can be difficult to recover.

How to Protect Yourself

• Hang up and contact your bank directly using the number on the back of your card.
• Never share passwords, PINs, or security codes over the phone.
• Be cautious of callers pressuring you to act immediately.
• Monitor your accounts regularly.

Scammers are becoming more sophisticated, but slowing down and verifying the call can help protect your personal and financial information.

Horizon Bank will never contact you unexpectedly and ask for passwords, full login credentials, or security verification codes. For more information on how to stay secure, visit Horizon’s Security Center.