New Scam: you get a text from your ‘banks fraud dept’ and they steal all your money

Always call your bank. Never take random calls from ‘your bank’

Saw this sad story on TikTok.

You get a text from your bank saying there is fraud on your account. You identify a few fraudulent charges, they send you a PIN, and then they steal all your money.

It is very similar to this scam:

New Scam: Banks ‘fraud dept’ calls about your card being used somewhere

How the scam plays out:

1. Get a text from a scammer saying there are suspicious transactions on your account, text 1 to ignore, 2 to fix
2. They call you with a made up list of fraudulent transactions. You identify them as fradulent.
3. They tell you they will send you a PIN to ‘verify your identity’
4. You get a text with a PIN. You read the PIN to them
5. They then use that PIN to access your account and steal your money.

How the scam works: