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A scammer contacts you pretending to be someone from your bank. They often know some of your personal or account information, which could have been taken from social media, public records, or a data breach. The call may even look like it's coming from your bank because the scammer uses spoofing technology to disguise the number on your caller ID.
Typically, they say that there is suspicious activity on your account and that to stop it you will need to provide personal information, such as your full account number or Social Security Number (SSN), a Personal Identification Number (PIN), an access code from a text or email, or your username and password. Other times, you are told to send money to yourself or someone else to "reverse" the payment or protect your money.
5 Tips to avoid bank imposter scams
- Watch out for scammers who may be able to spoof a phone number so the caller ID reads “Wells Fargo” or the name of your bank.
- DO NOT share your account numbers, SSN, access code, password, or PIN with anyone who contacts you requesting it. Wells Fargo will only send you a code when prompted by an action that you’ve initiated, such as signing on to online banking, sending money, or when you call us directly.
- Know that Wells Fargo will not ask you to send money to anyone, including yourself, to "reverse a transfer," "receive a refund," "protect your money," or anything similar. Remember, if a correction is needed, the bank has your account information.
- If you receive a code to authorize any amount of money (even $.01) to be transferred or another transaction you didn’t initiate, don’t enter the code in the Wells Fargo Mobile® app or share it with anyone, even if they claim to be from your bank.
- If you receive a suspicious phone call, hang up immediately, and if you receive a suspicious text, don’t respond. Contact the bank directly, using verified, legitimate sources such as a phone number on their website or app, before taking any further action. If the caller claims to be from the Wells Fargo Fraud Department, call 1-866-867-5568 to verify the request.
Learn more about how to spot common scams and cyber threats.
