Scammers are going to make it impossible for fraud analysts and banks to reach customers to protect their accounts.
Tens of thousands of consumers are getting calls and texts from fake fraud departments, and it’s really starting to undermine the validation process banks use to verify activity with their customers.
When a consumer becomes a victim of these scams, they are much less likely to ever respond to the fraud dept ever again. This means that companies will need to re-invent how they validate activity and regain the trust of their customers.
Another interesting video emerged this week showing just how realistic these texts from the Fraud Department scams are getting.
This woman shares her experience to a local news station WGAL, and the text looks very authentic, and so do the spoofed numbers!