Avoid getting caught in a bank-related phishing scam

Published: Oct. 5, 2020 at 4:53 PM CDT
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WAUSAU, Wis. (WSAW) - Among everything else Americans must worry about during the pandemic, fraudsters are having a feeding frenzy trying to hook consumers with phishing scams pretending to be from their bank. According to the American Bankers Association, Americans lost more than 1.9 billion dollars to phishing and other fraud in 2019 with 2020 losses expected to be higher.

The dizzying variety of scams is getting even more sophisticated and every day, thousands of people fall for fraudulent emails, texts, and calls from scammers pretending to be a bank. The communication is designed to trick you into providing confidential information (like account numbers, passwords, PINs, or birthdays) either online or over the phone to someone imitating a bank employee.

Paul Benda, senior vice president of risk and cybersecurity policy at the American Bankers Association, joined NewsChannel 7 at 4 on Monday to discuss the current phishing scams that are being used to target consumers, provide tips on how to spot a scam and talk about the first-of-its-kind, industry-wide campaign #BanksNeverAskThat.

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