ALERT: Sophisticated Banking Scam Targets Crown Heights
A widespread sophisticated banking scam is making its rounds, and it’s being targeted at members of our community. One Crown Heights resident reported encountering this scam twice in the past month, with scammers posing as legitimate bank representatives and using convincing tactics to gain access to online bank accounts • Full Story
By Chabadinfo Reporter
A widespread sophisticated banking scam is making its rounds, and it’s being targeted at members of our community. One Crown Heights resident reported encountering this scam twice in the past month, with scammers posing as legitimate bank representatives and using convincing tactics to gain access to online bank accounts.
The scammers somehow obtained your online banking username (but not your password). They then spoofed the bank’s caller ID so that the call appeared to be from your bank’s fraud department, making it seem authentic.
The scammer claims to be from your bank, such as Wells Fargo or Chase, and informs you of supposed fraudulent charges—often citing familiar retailers and amounts to seem credible. For example, they may say someone attempted to spend $375 at a well-known store. They use the last four digits of your card, which are relatively easy to obtain, to sound even more convincing.
To “verify” your identity, the scammer says they will send you a one-time code to your phone and ask you to read it back to them. While the text message is a legitimate one sent from your bank, it is actually a code for changing your online banking password. If you share this code, the scammer can gain full access, reset your password, and gain control of your account and finances.
The text message clearly states it’s for a password change, but the scammer relies on you not reading it closely. Once they access your account, they can drain funds or conduct unauthorized transactions.
Fortunately, this community member caught on in time, noticing no actual alerts from the bank and realizing the suspicious nature of the request. They urge everyone to remain vigilant: never share verification codes over the phone, even if the caller ID seems to be your bank.
Other users reported to Chabadinfo that they were also targeted by this scam. In addition, other scams have been repeatedly targeted at our community, such as EBT and credit card skimming.
If you encounter any suspicious calls or texts, hang up and contact your bank directly using the number on your bank card to confirm any alerts. This scam appears to be targeting people nationwide, so please stay alert and protect your accounts.
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