Bank of America (BoA) is among the top victims of scams that involve Smishing, frauds that make use of SMS instead of email. Why? Since millions of Americans depend upon BoA and scammers know that they are able to fool only a small portion of the population to earn profits. These scams are becoming more common more convincing, and more dangerous. The attackers combine fake messages, fake phone identities, fake websites and live phone operators to lure victims into releasing anything from passwords for banks to OTPs. (OTPs).
How the Scam Works
The most popular method to gain access is through an easy, but stimulating SMS, for example:
“(Fraud) Alert”(Fraud)”Alert” Alert: Your BofA ATM/Debit card has been suspended. Contact 1 877 -***-**** to verify.”
“BofA Payment Accepted for $153.48 at PetSmart on 04/21. Did you receive this? IF NO RING 1 -***-***-8834.”
At first look, they appear seem at first glance, they appear to be authentic. They’re often spoofed numbers or sender IDs like “BankofAm” and use support-style words. They could even imitate BoA warnings about fraud, which makes it difficult to discern the difference. In a study that we conducted recently, we observed:
59+ card suspension messages
There are more than 97 distinct phone numbers that are linked to SMSing
254 false email addresses which mimic BoA alerts
Domains like “b_o_f_a_support_line[at]comcast.net” are used to hide behind foreign infrastructure
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Red Flags to Watch For
Here are the most crucial warning indicators to be aware of that a text message (or message) might be a rip-off:
Requests for transfer Bank of America included -We will never request money transfers into”the safe account “safe account” or via telephone calls to.
Requests for confidential information: Banks don’t ask for passwords, PINs, social number or passcodes that are one-time for texts or calls.
Contact numbers and links that are included in texts or emails that aren’t solicited link or number that is mentioned especially in messages you did not design. Always confirm through official channels.
Unsolicited phone calls: If you haven’t sought assistance or been alerted, you should be cautious of calls or texts which claim urgent action is needed.
What Happens If You Call or Click
The majority of callers receive a fake telephone number that sounds like BoA or an actual crook who claims to be an BoA employee. BoA. BoA fraudulent department. The actors follow an elegant script and ask for “standard verification”, such as:
The last four numbers of your SSN
ZIP code
For online banking, the username is
Full card number
If you’ve activated the two-factor verification (2FA) It will prompt you to enter the security code delivered to your mobile which will remove your account’s security. For more advanced scenarios fraudsters ask customers to download remote access applications for their phones or computers which allow them to check the transactions on their website in real time.
Be sure that you are secure with the Trend Micro ScamCheck
With the increasing number and level of sophistication of scams, staying one step ahead is more essential than ever. The antivirus software alone will not suffice. The most recent version of ScamCheck by Trend Micro! ScamCheck has been released for both Android and iOS, ScamCheck offers comprehensive protection against fraudulent fakes as well as phishing scams and fake spam messages, fake deepfakes and more.
Scam Check: Quickly look over the text, emails and screenshots as well as screenshots, URLs, screenshots, and phone numbers by using Artificial Intelligence-powered fraud detection. Stay protected and safe.
The SMS filtering feature and the call blocking stop receiving unwanted calls from spammers and fake messages and texts. Reduce interruptions to your daily routine and increase your defense from scams and phishing.
Deepfake Scan: Detect fakes when you make video calls. It will also notify you if someone is using AI face-swapping in order to change their appearance.
Website Security: Explore the internet without fear, free from harmful sites and annoying ads.
Fake Links and Lookalike Domains
Certain messages go far beyond and include hyperlinks that lead customers to duplicate Bank of America pages where they must “verify” or “review” an unreliable check or payment like:
“Did your signature appear on check #0000008124 for $39,182.00? Check out the image: “
The URLs are hidden, and once you log in, your credentials are sent directly to the scammer. Your account may then be taken away before you even know the details of what transpired.
What the Scammers Want
The campaigns are designed to get:
Log-in details to access online banking
Credit or debit card numbers
Personal information like SSNs, address, emails addresses and phone numbers
Codes for security codes to protect OTPs as well as SMS-based security codes
After gathering the information they require After accumulating their details, scammers vanish. They typically stop operations within hours. Meanwhile, the stolen funds are channeled into accounts operated by mule scammers, or converted to crypto in order to make them harder to trace.
The thing that makes these scams risky is the way they resemble real BoA warnings about fraud. For example, genuine BoA messages usually contain the words: “Bank of America will never ask you to transfer money to ANYONE, including yourself.” Scammers are able to take exactly the same words and after which they solicit you to call a fake number or approve the fake transfer.
How to Protect Yourself
If you get a suspicious BoA text:
Don’t call the number in the email. You should use the official number that is available on BoA’s site or the mobile application.
Be careful when clicking on links to ensure that they’re authentic.
Do not give 2FA codes out to anyone and do not install remote access software except for conversations with an individual who you have spoken to through official channels.
Smishing attacks on Bank of America customers are part of a pattern in mobile-based scams. They combine real-life, urgent and clever utilization of the mobile’s technology to deceive even the most sophisticated of customers.
They’re not just text messages that ring a phishing scam no more. There are multiple fraud channels that work together. Knowing what to watch for is the most efficient first choice.
To download Trend Micro ScamCheck or to find out more details visit this.
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