Vishing Scams are a New Threat and Not Fun
Watch out for this latest criminal enterprise that involves calling you and impersonating your bank.
Vishing scams are the most recent methods of tricking you into giving money to con artists who act as if they have your best interests in mind. This method of social fraud involves phone calls from scammers impersonating your bank and asking for information a financial institution would never ask for. If you want to avoid falling these kinds of scams, consider blocking suspicious phone numbers with an app like dfndr security, which has a call blocker feature.
Here is what you should know about vishing scams in a nutshell, as well as ways to avoid them.
Read More: The Rise of Phishing Scams via Text Message
A Form of Social Fraud
While phishing scams attempt to trick you into sharing your personal and banking information through emails, vishing scams do so through phone calls that appear to be from legitimate employees from your bank. They will often already have your banking information and claim that fraudulent activity transpired in your account.
In order to remedy the situation, they claim that the “bank” requires you to transfer a sizable amount to a different bank account that has been opened under your name with the same bank, helping to keep your account in good standing.
How One UK Woman Was Tricked
British businesswoman Emma Watson is one such victim of a vishing scam as she got a phone call one day from people claiming to be employees from her bank, noting unusual transactions on her account. She says they spoke with someone who demonstrated professionalism as they carried our their scheme, which required her moving money into another account.
Watson adds that these scammers are good with people as they are reassuring, saying that they know it’s a distressing time for her and they would help her through the process. She ended up losing £100,000 (more than $140,000) and authorities were only able to trace and return a small amount of this.
The Tell-Tale Signs of Vishing
In addition to already having some of your personal and banking information which appears legitimate, con artists speak with a sense of urgency, which activates a part of your brain that influences you to potentially making poor decisions in order to solve the urgent problem. Scammers also use technology to trick you into believing the phone call is coming from somewhere else to make it appear legitimate.
Fraudsters may also hold up your line at times, which means that even if you call your real bank to verify, the call will be redirected to their line. You should also pay attention to the background noise during a call as criminals use “noise” like CDs or software to make it seem like they’re in a call center.
How to NOT Fall For Vishing
Never, ever give out your personal information, bank account numbers or passwords. Letting any of this information slip will make it easier for fraudsters to access your account. Keep in mind that banks will never ask for your passwords or personal details. You should also keep a close eye on your bank account to ensure no fraudulent activity has happened.