How this scam works
With caller ID Spoofing, scammers call you from a number that seems to be coming from your bank, usually the customer service number. They don’t hack in the bank’s systems, but use special technology to change the caller ID. They target individuals and/or businesses.
The scammers pretend to be bank employees and often use the name of an actual employee to convince you. They ask you to reveal sensitive banking details, such as e-Banking credentials, card numbers, PIN and OTPs, with a view to gain access to your accounts and get money out of you.
They may also state information such as the first 6 digits of your debit card. Keep in mind that the first 6 digits of your card number are common in all cards and relate to the Bank Identification Number (BIN), i.e. your bank’s identification number.
You often get such a call right after a failed attempt to defraud you. In this 2nd call, the scammers claim that the bank has identified the attempt to defraud you and is calling to protect you. They may tell you that they are going to close your account or cancel your card.
How to protect yourself
You need to be very cautious with calls that seem to be coming from your bank and someone is asking for sensitive banking details. Keep in mind that the bank will never ask you to reveal such details when contacting you.
Scammers follow some common tactics that should make you suspicious:
- They don’t leave you time to think or ask for information.
- They try to prevent you from contacting your bank.
Terminate the call and contact your bank’s customer service yourself if you suspect that the call is not reliable or if you feel that they are trying to defraud you, especially if the person calling:
- Urges you to carry out a virtual transaction to get a subsidy or refund.
- Asks you to transfer your money to another supposedly safe account or to withdraw money from an ATM.
- Tries to convince you that you’ve fallen victim to scammers and that they’ll send a courier to your home to get your card, your PIN and/or your money.
- Claims that the messages with OTC codes you received during the call from the bank are meant for cancelling a fake transaction.
