The ID Crooks Using Text Messages
June 21st, 2008 by MarkThere seems to be a new scam on the market with news that more and more people are receiving cell phone text message from their ‘banks’ advising them that their accounts have been frozen due to suspicious activity. The recipient is then asked to log onto a website to confirm their details and allow the bank to unfreeze their account. But as you might have guessed, this message is not exactly what it seems!
The latest scam in the US revolves around the Franklin Bank, a bank which many people in the country do business with. The website they are advised to visit is www.bankfranklinsecure.com where they are invited to enter their bank details, passwords, etc. The website is just a scam and the fraudsters will record the information that you enter and raid your bank account at a later date – often leaving customers with nothing!
There is some confusion as to how the scammers actually obtain live cell phone numbers, but there is a suggestion that specially adapted phone machines will work their way through numbers on a sequential basis until they find live lines – then the text alert will be delivered. These machines are common place in the marketing industry and while often frowned upon by the public, they are legal and do have legitimate uses.
As the cost of these scams is relatively low, the return on time and money for the crooks can be enormous. Even if they are successful with just one in a hundred attempts to coerce information from the public this can lead to massive financial returns. The fact that many of these scams are based overseas means that the US judiciary will probably never catch them.
You should always ignore unsolicited emails and texts, and never give out any confidential information over the phone. If you have a problem with your bank then you need to visit in person where possible, or use official websites to communicate your comments.
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