Scammers impersonate bank representatives in fraudulent scheme toacquire bank cards with chips from unsuspecting bank customers.
A disturbing fraudulent scheme has emerged where scammers impersonate bank representatives, hereinafter referred to as “impersonators,” to deceitfully acquire bank cards with chips from unsuspecting bank customers. This alarming trend has raised significant safety concerns, as the impersonators are employing accomplices to visit customers’ homes, the Federal Bureau of Investigation (FBI) warned the public on Friday.
How the Scheme Operates
The scheme begins when bank customers receive a phone call from a number that appears on caller ID as their bank. During this call, the impersonator engages the customer in a conversation about recent transactions, creating the impression that there is fraudulent activity involving their account. The customer is then instructed to cut up their bank card but to leave the chip intact for return to the bank, as stated in the FBI’s press release.
Following this, the impersonator arranges for an accomplice, who also poses as a bank representative, to visit the customer’s residence to collect the bank card with the intact chip. If the impersonators do not already have the customer’s PIN, they employ social engineering techniques to extract this information from the customer. Reports indicate that if the customer has not yet cut the card, the accomplice may “assist” them by cutting it and ensuring the chip remains intact before departing with the card remnants. With both the chip and PIN in their possession, the impersonators can access and steal funds from the customer’s account.
Unknown Sources of Personal Information
At present, it remains unclear how the impersonators are obtaining personal information such as names, addresses, and bank account details. According to the FBI, there is no evidence to suggest that specific demographics are being targeted in this scheme.
Reporting and Preventive Measures
The FBI urges anyone who encounters fraudulent or suspicious activities of this nature to report them immediately to the FBI’s Internet Crime Complaint Center (IC3) at www.ic3.gov. When filing a report, be sure to include the following details:
- The method by which the complainant was contacted, including any phone numbers used.
- Any aliases or names that were utilized by the impersonators.
- The keywords #BankChipHack for easier identification of the issue.
In addition to reporting to the FBI, affected individuals should contact their financial institutions immediately to regain control of their accounts. It is crucial to change passwords and place alerts on accounts for any suspicious login attempts or transactions. Taking these steps can help mitigate the risk of further fraudulent activities and protect personal finances.
The FBI’s public warning highlights the importance of vigilance and quick action in the face of such scams. By staying informed and taking prompt measures, bank customers can safeguard their accounts from these sophisticated fraudulent schemes.
