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’

Joshua Dance


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:

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:

It is critical to know what information a bank will ask for, to recover your account.

The bank will usually ask for

  1. Which bank you use
  2. Name
  3. Address
  4. Social Security number
  5. PIN they send to you to verify you control the number and you want to recover the account.

So now lets look at how the scammers get each of these items.

  1. Scammers run thousands of numbers through an API to lookup the name of the number owner. Name ✅
  2. Scammers use tools like Google and lookup tools to find the address associated with that number. Address ✅
  3. Scammers google the names and addresses and pick a set of people they think have enough money to steal.
  4. With the name and address scammers buy the Social Security Number of their targets…



Joshua Dance

Code, design, cook. Make stuff. Cookies. @BYU grad.