You receive a call on your phone.
The caller says they're from your bank and they're calling about a suspected fraud.
"Oh yeah," you think. Obvious scam, right?
The caller says "I'll send you an in-app notification to prove I'm calling from your bank."
Your phone buzzes. You tap the notification This is what you see.
Still think it is a scam?
1/3
The scammer is on the phone to you.
Their accomplice is on the phone to your bank, pretending to be you.
Your bank send you the notification.
You accept, and scammers proceed to drain your account.
Someone has just lost £18,000 because of this.
https://www.reddit.com/r/UKPersonalFinance/comments/1cih3kd/been_scammed_over_18000_through_my_chase_account/
2/3
It *is* a genuine notification. But it isn't confirming the bank is calling you.
Should the bank word that differently?
In a rush, would you read it thoroughly?
Most likely, in a panic about the fraud, you'd confirm it was a genuine notification (it is!) and accept it.
3/3
A few years back the boss of the local credit union in my town got nicked and sent to prison for fraud/stealing customer data and funds, he was only caught because the main bank they use for the electronic transactions noticed suspicious activity and went over his head to cops. The credit union has since been taken over by the local Council.
@vfrmedia @Edent @derickr previously, she twigged to the scam in time to call her bank and raise a red flag. It was super inconvenient to change out her account numbers and logins, but nothing was stolen.
We were all mystified when, months later, a scammer pretending to be from her actual bank (again: a tiny credit union, not Chase) almost got to her. I'm realizing now that they knew which bank to mimic from that earlier scam.
The title of the family group chat is now "urgency+money=fraud"
Terence Eden
Derick Rethans
Alex@rtnVFRmedia Suffolk UK
Amanda Bee
Mélani (Melanie) Bjornsdottir (she, ŝi)