Your phone rings. The caller says they’re from your bank.
There’s suspicious activity on your account, they tell you. Your money could be at risk. But don’t worry, they can help you protect it. All you need to do is move your money to a different account.
It may sound convincing. The caller might know your name. The phone number might even look familiar. They may claim to be working with law enforcement or another government agency.
But there’s one very important thing to remember: Guthrie County State Bank will never tell you to move money to another account to keep it safe.
The urgency is part of the scam
Imposter scams are designed to make you react before you have time to think.
A scammer might tell you:
- Your account has been hacked.
- Someone is trying to steal your money.
- Your identity has been compromised.
- You need to act immediately or you’ll lose everything.
- You shouldn’t tell anyone else what’s happening.
- You need to transfer money, withdraw cash or use another payment method to “secure” your funds.
The Consumer Financial Protection Bureau warns that legitimate government agencies and financial institutions do not ask consumers to send money to “protect it.” Scammers may also request cash, gift cards or cryptocurrency, which all are major warning signs.
But the caller ID says it’s my bank
Unfortunately, caller ID isn’t proof of who’s calling.
Scammers can make a call or text appear to come from a legitimate organization. They may also use information they’ve found or stolen about you to make the conversation seem more believable.
That’s why you should never rely on the incoming phone number alone to decide whether a call is legitimate. The Consumer Financial Protection Bureau recommends contacting your financial institution using an official phone number or website you trust.
Give yourself permission to hang up
If someone contacts you unexpectedly about a problem with your account, you do not need to resolve it while they’re on the phone. Hang up.
Then contact GCSB directly using a phone number you already know is legitimate. We can tell you whether there is actually a problem with your account and help you determine what to do next.
And if the person on the phone tells you not to hang up, not to call your bank or not to talk with anyone else? Consider that an even bigger red flag. A legitimate bank will want you to verify that you’re really speaking with us.
Fraud Reminder: When someone says your money is in danger and the solution is to move it somewhere else, stop before you send. A few extra minutes to verify what’s happening can make all the difference.