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Help Avoid Scams

Characteristics of an Imposter Scam

A scammer poses as a trusted figure, claims there is an issue and urges you to act fast to resolve it.

How it works:

  1. Initial Contact: Scammers reach out through various methods (text, email, phone call, computer pop-up, social media) using familiar looking communications, and claim there is an issue with:
    • A package delivery or failed delivery attempt
    • Fraud on the account
    • A computer they can help fix
    • An application for employment, financial aid or tuition reimbursement
    • An invoice, tax payment or refund (overpayment or past due payment)
  2. Deceptive instructions: They will ask you to:
    • Provide personal information including your PIN and/or a security code
    • Move money to your digital wallet and then to your “new” account number to resolve fraud
    • Type a code into your device beginning with a special character (such as *72 or **21)
    • Click on a link or download an attachment to provide payment information
    • Ignore warning messages as you follow their instructions
    • Provide remote access to a device or download an app
  3. The scammer wins: If you follow their instructions and provide information:
    • Your money will go to a scammer, and it is unlikely to be recovered
    • The scammer can use your personal and financial information to steal your money
    • They may install malware on your devices
    • You may forward incoming calls and texts to the scammer if you typed *72 or **21 plus a number into your phone
    • They may demand money to restore access to your accounts or devices, or to stop them from releasing personal information about you

Help protect your money - pause, verify, help prevent scams:

  • Bank of America will never ask you to move money or pay anyone, including yourself
  • Never ignore scam warnings, even if you are told to do so
  • Verify any requests for money through legitimate sources
  • Do not open unfamiliar links for payment or personal information, which may be phishing attempts. Read more about phishing
  • Be cautious about granting device access or downloading unfamiliar apps to fix issues. Run a full system virus and spyware scan and power off the device. Read more about tech scams
  • Help protect your friends and family from scams by talking to them about the tactics scammers use