Scammers are constantly trying new ways to obtain your personal and financial information. The newest tool in their arsenal is caller ID spoofing. Scammers can now have fake phone numbers appear on your caller ID to convince you that they are calling from a legitimate financial institution or company. The process of obtaining fake caller ID numbers has become easier and cheaper with many websites on the Internet offering this service. Companies started out providing fake caller ID numbers for law enforcement or collection agencies. Now anyone can sign up for the service and it is being used to perpetrate fraud.
Scammers are using the spoofed caller ID numbers to solicit personal information. When contacted, victims often are convinced that the caller is legitimate because the number on the caller ID is from their financial institution or credit card company. The scam works because few people would think that the caller ID number is fake.
Take the following steps to protect yourself:
• Don’t assume the phone number appearing on your caller ID is correct
• Never provide personal information over the phone in response to an unsolicited phone call unless you know who you are dealing with
• If you have doubts about the caller, hang up and contact the company using a phone number of record. Do not call back to a number provided by the caller
If you have received an unsolicited phone call claiming to be from your financial institution or credit card company and have provided confidential account information, notify your financial institution or card issuer immediately of the scheme. Take any additional action recommended by your financial institution or card issuer to protect your account.