3 Crucial Bank Scams that Every Bank Customer Needs to be Aware of |CIO Review
With the payment methods becoming increasingly digitalized, bank scams are also very high. Scammers use this technique scams to part account holders from their cash, which involves fraud phone calls, bank cards, fake emails, and ATMs. In 2018, unauthorized card payments accounted for 56 percent of all banking scams, followed by remote banking at 12 percent, authorized scams at 30 percent, with bank checks responsible for 2 percent of the fraud. Nevertheless, a loss of £1.2 billion is not a less amount. It is something serious that needs to be avoided, and every customer must be careful of it. 1. Bank transfer scams are considered the most common banking scam, which involves users who transfer money from their bank accounts. In this kind of scam, the users receive a call from a fake bank person alerting them regarding a security or technical problem related to their bank account. The fake person asks users to transfer all the money into a secure account until the issue is resolved. Once the transfer is done, the funds are immediately salted away to other versions around the globe.