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- Imposter scams. Imposter scams remained the top fraud category, with reported losses of $2.7 billion. These scams include people pretending to be your bank’s fraud department, the government, a relative in distress, a well-known business, or a technical support expert.
- Investment scams. While investment-related scams were the fourth most-reported fraud category, losses in this category grew. People reported median losses of $7.7K – up from $5K in 2022.
- Social media scams. Scams starting on social media accounted for the highest total losses at $1.4 billion – an increase of 250 million from 2022. But scams that started by a phone call caused the highest per-person loss ($1,480 average loss).
- Payment methods. How did scammers prefer that people pay? With bank transfers and payments, which accounted for the highest losses ($1.86 billion). Cryptocurrency is a close second ($1.41 billion reported in losses).
- Are You Grappling with A Bank of America Scam?
- What Are Bank of America Scams? How Do They Work?
- Example: A Bank of America Scam Email That Almost Worked
- The 7 Latest Bank of America Scams You Should Know About
- Did You Send A Scammer Money Or Give Them Your Bank details?
- How to Protect Your Bank Account from Scammers
- The Bottom Line: Don’T Get Burned by A Bank of America Scam
Gabrielle Chavez had been saving up to pay for her mother’s headstone when she received a text message from Bank of America asking if she’d sent $3,500 to someone through Zelle [*]. Afraid that her account had been hacked, the 24-year-old quickly responded. But seconds after hitting “send,” Gabrielle’s phone rang. On the other end, a man who introd...
Bank of America scams occur when fraudsters attempt to gain access to your bank accounts, finances, or personal information by posing as bank employees or other officials. Scammers know that the banking system is built on trust. You trust the bank to protect your savings — and when fraudsters pose as bank employees, you’re more likely to extend tha...
Here’s an example of a real-life Bank of America scam email: At first glance, you might not assume that this is a fake email. The “from” name says “Bank of America,” it uses the bank’s official logo, and the email describes what sounds like a plausible situation. However, if you dig deeper, there are clear red flags indicating that you’re dealing w...
Scammers are always testing new ways to get you to give them personal information or access to your bank account. Here are descriptions of the latest Bank of America scams to watch out for:
If you accidentally send money or personal data to a scammer, you must act quickly to protect your finances and identity). Not only do you want to stop scammers from stealing more, but you’ll also want to secure your accounts and identity against future fraud. Unfortunately, nearly one-third of all identity theft victims are repeat victims [*]. Her...
Practicing good security hygiene will make it harder for criminals to gain access to your money and financial information: 1. Update your online bank account passcode. Your account password should be at least 10 characters long and include a combination of letters (both upper- and lower-case), numbers, and symbols. Avoid using passwords that you’ve...
Gabrielle Chavez didn’t immediately trust the person who scammed her. She thought she was being diligent by asking questions. But diligence isn’t always enough to protect your personal data or prevent fraudsters from accessing your bank account. Enjoy peace of mind with Aura’s all-in-one digital security solution. Aura monitors your bank accounts, ...
A new Data Spotlight about business and government imposters shines a light on the top imposter scams. Last year, people reported almost half a million business and government imposter scams directly to the FTC. These reports reveal three trends: Scammers are relying more on text or email messages to start their schemes, and less on phone calls.
- AI scams, including deep fakes, stolen identities. Generative AI has resulted in numerous benefits across industries, but it has also made fraud more accessible and put consumers and businesses at risk.
- Weaker fraud protection at in-person banks. Over the years, there’s been a substantial migration to digital banking. But recently, many consumers have returned to credit unions and bank branches to open new accounts or get financial advice in person.
- Increased retail fraud, as businesses are hit with empty returns. With a rise in online shopping, fraudsters have found creative ways to scam some retailers and small businesses.
- Synthetic identity fraud. During the pandemic, many fraudsters created synthetic identities. Although dormant for the past couple of years, fraudsters can now use these dormant accounts to “bust out” and steal funds.
Jan 10, 2024 · Cohen said the scam started right after he lost his debit card. The next day, the Bravo host said he received an email that appeared to be from his bank's fraud alert. "It wasn't. Because I lost ...
- Anna Kaplan
- News And Trending Reporter
Aug 25, 2023 · Scams that target travelers come in all kinds of shapes and sizes. Here are the major ones: Games of chance. If you see anyone playing a three-card monte or a shell game, keep walking. It's a ...
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Online dating hoaxes. The scam. Cyber criminals use online dating apps or social networking sites to strike up conversations with unsuspecting, potential targets. After cultivating a relationship and earning your trust, they will need funds for a plane ticket (or another expense) and ask you to wire money or buy a gift card to help pay for it ...
