Your phone buzzes with a message that appears to come from your bank: “Fraud Alert: A $1,250 transaction was attempted on your account. Reply YES if authorized or NO if this wasn’t you.” Your heart skips a beat, and your first instinct is to respond immediately before someone steals your money. But what if that warning is actually the beginning of the scam?
Criminals increasingly use text messages that impersonate banks, credit unions, and fraud prevention departments to trick consumers into revealing sensitive information or transferring money. The Federal Trade Commission (FTC) warns that scammers frequently send fake account alerts designed to create urgency and convince recipients to act without verifying the message.
