Local community members are reporting receiving fake fraud alert text messages and calls claiming to be from their bank. In some cases, the messages use a local bank name or “spoof”/mask the caller ID appear to be from a bank phone number
The scam begins when a victim receives a fake fraud alert by text message or voice call about a suspicious transaction on their account. Shortly after the victim responds to “NO” or that the transaction was not authorized, they receive a phone call from scammer posing as a fraud representative from their bank. They ask the victim to verify their identity by requesting account or debit card information and online banking usernames and passwords. While all the call, the fraudster uses the information to access the customer’s online banking. If a security passcode is needed, the fraudster pretends they need the code to verify the victim’s identity over the phone. Once logged in the fraudster uses person to person payments or other quick payment services to drain the victims’ accounts.
While many banks, including MVSB, do send fraud alerts to customers to bring suspicious activity to their attention quickly, we will not ask you to provide sensitive information, such as your debit card number or online banking. If you are ever unsure if an alert you receive is sent from us, please do not respond, click on links or provide personal information.