BOfA Fraud Dept Text Scam Transaction Blocked

The BOfA Fraud Dept Text Scam

BOfA Fraud Dept: The transaction was blocked and no funds have been taken from your account. A representative wil be contacting you shortly.

Some BoA and Chase customers have reported getting call from the Chase number on the back of their debit card from the fraud department. The callers said their accounts have been compromised and then scammed them out of $2000. The callers appear to know specific transactions on their accounts and use some form of software to make it look like Chase was calling from their customer service line. Some customers have called BoA/Chase and explained what happen but were they apparently authorized the transaction via Zelle and there is nothing that be done.

How to Spot the Scam

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:

• Banks will never use money transfer service to stop fraud.
  This should be an immediate red flag. 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. If you get a call like this, hang up immediately.
• Scammers can spoof legitimate phone numbers.
  Scammers can replicate legitimate phone numbers and impersonate a business, which can fool victims into falling for the scam. Your caller ID may even display the business name. If you receive a call, hang up and call the bank directly using the number on your debit card or bank statement.
• Scammers will use aggressive and urgent language.
  Scammers will prey on your fears and claim you must transfer the funds before it’s “too late.” They will use aggressive language to scare you into acting quickly. Be sure to remain calm, ask questions and never be rushed into anything. If you receive a call like this, hang up and call your bank directly.
• Never share sensitive or personal information with unidentified individuals.
  Scammers will attempt to convince individuals to provide their personal information, birth dates, PINs, Social Security and any other sensitive information over the phone. You should never provide confidential account information to unidentified individuals or to unsolicited callers.