Financial services providers are alerting customers to a rise in call forwarding scams aimed at stealing personal and financial information.
The scam begins with a call from someone claiming to be from a financial institution calling about an urgent issue with the victim’s account. During the call, the scammer instructs the recipient to enter a special code, such as *72 or *401, followed by a 10-digit number, purportedly to secure the account. However, this action activates call forwarding, redirecting all incoming calls to the scammer’s phone.
Once calls are forwarded, scammers can intercept sensitive information, including usernames, passwords, and authentication codes, by impersonating the account holder.
To protect against such scams, customers should remain vigilant and follow these precautions:
- Never enter special codes, such as *72 or *401, when prompted by an unexpected caller.
- Do not share account information with anyone claiming to represent your bank, as the bank already has this information.
- Be cautious of unsolicited calls or texts that claim to be from your bank, especially those requesting urgent action or code entry.
- Avoid relying solely on Caller ID, as it can be spoofed.
- Monitor accounts regularly for suspicious activity.
If a call seems suspicious, hang up immediately and verify the situation by calling a trusted number or contacting a local branch or banker directly. Staying informed and cautious is the best defense against these types of scams.