Bankers Warn Of “Spoofing”

The Wisconsin Bankers Association has seen increased bank fraud and encourages citizens to continue their efforts to spot scams. Criminals are seeking to obtain bank accounts or personal information.

With greater frequency, Wisconsin banks see a variety of fraud activity targeting consumers, including recent attempts by bad actors to defraud customers through calls impersonating the bank. Many instances include “phone number spoofing,” which makes the call appear as if it were from the bank itself. If a call seems suspicious, hang up and contact the bank directly using a verified number.

WBA President and CEO Rose Oswald Poels says Wisconsin banks go to great lengths to protect customers by investing in anti-fraud tools and account security, but criminals are clever.

“Criminals are sophisticated in their spoofing of bank names on Caller ID and creating fake websites or text messages with bank logos to mislead customers into providing account access information or transferring money,” she explains. “Bank customers must be vigilant to protect bank account and personal information from criminals.”  
 
The Wisconsin Bankers Association offers the following tips to help protect customers against scams or financial exploitation:

• Watch for these red flags of phishing in emails, calls, and text messages:
  • They ask you to open a link you were not expecting
  • They use urgent or fear-inducing language
  • They send an attachment
  • They request personal information like PINs, passwords, or social security numbers
  • They pressure you to log into, or send money with, payment apps
    
• Write safer checks:
  • Use permanent gel pens when you write a check
  • Avoid blank spaces so criminals can’t fill them in instead
  • Withhold personal information on your checks
  • Take your mail directly to a U.S. Post Office location; do not use your mailbox at home or a free-standing blue drop box to send mail
  • Attentively monitor your account activity on your online banking platform
  • Regularly review your paid checks on your online banking platform, including ensuring the endorsement is correct and reflects the intended payee and amount
  • Switch to your bank’s payment app or online bill pay instead of writing a check
  • Follow up with payees to confirm they received and deposited your checks.