Articles & Alerts

Protecting Yourself from Phishing and Texting Scams Amid U.S. Banking Changes

April 11, 2023

As economic pressures continue to affect the U.S. banking situation, it is important to remain vigilant against potential scams and fraudulent activity. We’re seeing increased phishing and texting activity to steal personal identification and money due to the recent banking closures and merger activity.

These scams come in a number of different communications asking you for certain key information, such as updated wire transfer information, emails instructing you to update personal information, and unexpected text messages—especially from unknown or spoofed numbers. To protect yourself from these scams, it is important to stay vigilant in exercising caution and follow some basic guidelines:

  1. Never click on links or download attachments from an email you were not expecting.
  2. Be wary of emails that create a sense of urgency, and check for grammatical errors in any communications.
  3. Always separately verify any update requests for banking instructions, contact information, or personal details in at least two ways—one being a voice call. This will help ensure that any changes to your accounts or personal information are legitimate and prevent any potentially fraudulent activity.

Remember, staying alert and aware is key to keeping your personal information secure in today’s world. Don’t let scammers take advantage of you—be informed and stay safe.

For more information regarding protecting yourself from phishing and texting scams in light of the recent banking changes in the U.S., please contact Russell Safirstein, leader of Anchin’s Digital Risk Solutions (ADRS) group and President of Redpoint Cybersecurity.