Vishing Scam: Test Your Instincts

Here's a typical story that bank employees frequently encounter, showcasing the cunning strategies of phone scammers. If you were in Alice's shoes, would you have fallen for this scam? 

Scenario: The Fake Bank Official 

Background: 

Alice, a retired school teacher, receives a call one afternoon. The caller ID displays the name of her bank, so she answers the call, assuming it's important. 

The Call: 

The person on the other end of the line introduces himself as Mark, a customer service representative from her bank. He sounds professional and courteous. Mark explains that there has been suspicious activity on Alice's account, specifically mentioning several large transactions that he claims were flagged by their system. 

Creating Urgency: 

Mark stresses the urgency of securing her account immediately to prevent any potential losses. He tells Alice that in order to verify her identity and proceed with securing her account, she needs to provide her online banking username and password. He assures her that this information is necessary to provide her with instant protection. 

Alice's Response: 

Feeling the pressure and fearing for her savings, Alice provides the information. Mark thanks her and tells her they will contact her if more information is needed. He hangs up shortly thereafter. 

The Discovery: 

Later, when Alice logs into her online banking to check her account, she finds that money has been transferred out of her savings. Confused and alarmed, she calls her bank directly using the number on the back of her debit card. 

Bank's Response: 

The bank informs her that no one from the bank had called her earlier, and the transactions made were not flagged because they were unauthorized. The bank confirms it was a vishing attack, and they never request sensitive information like usernames or passwords over the phone. 

Outcome: 

Alice works with her bank’s fraud department to attempt to recover the lost funds and secure her account. She changes her account credentials and sets up additional security measures like two-factor authentication. 

Lessons: 

- Always verify the caller's identity: If you receive an unsolicited call claiming to be from a bank or any other institution, hang up and call back using a number you trust (like the one on your card or official website). 

- Never share sensitive information: Legitimate organizations will not ask for sensitive information like passwords or PINs over the phone. 

- Stay informed: Being aware of common tactics used in vishing can help you recognize and avoid them. 

More tips:   

- If you receive a suspicious call or text, please call us at 888.336.2700 to confirm the message is truly from us.   

- Visit our Security and Fraud Protection page for more support.