fake bank of america credit card statement

Your caller ID may even display the business name. Scammers can replicate legitimate phone numbers and impersonate a business, which can fool victims into falling for the scam.

Scammers can spoof legitimate phone numbers.

If you get a call like this, hang up immediately. Banks will never call and ask you to stop a fraud by using a money app, such as Zelle or Venmo, or any other bank transfer service.

Banks will never use money transfer service to stop fraud.

This scam has been reported with Bank of America and JP Morgan Chase customers but individuals should stay alert and learn how to spot a bank text scam: Many times, the bank will deny claims filed stating they are not at fault. Once you transfer the funds, the money is lost and is very difficult to retrieve.

Consequences: Instead of sending the funds to your own account, as the scammer claims, you are ultimately transferring the funds to the scammer.

(Zelle is a popular money transfer app that enables users to send and receive money from friends, family and others they trust.)

The Scam: The scammer will claim the transfer went through and to cancel the transfer, you have to transfer the money back yourself through a money transfer app, such as Zelle, to reverse the transaction.Once the recipient replies to the text, they will receive a call from the scammer posing as a bank representative. The Bait: Recipients receive a fraudulent text and are prompted to reply “YES” or “NO” to the text message to approve or deny a transaction.These texts may appear legitimate and contain the name of a bank you do business with. Scammers are sending text messages with phoney fraud alerts stating there has been a request to withdraw or transfer a large amount of money from your bank account.

Fake bank of america credit card statement