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Know How to Spot a Phishing Scam

Learn the red flags of four common phishing scams.

Publish Date: October 2024

Every day, thousands of people fall victim to fraudulent texts, emails and calls from scammers pretending to be their bank. In fact, the Federal Trade Commission’s report on fraud estimates that American consumers lost a staggering $10 billion to phishing scams and other fraud in 2023—an increase of 13.6% over 2022.

“October is Cybersecurity Month,” explains Jamie Frett, Chief Compliance Officer at Fidelity Bank & Trust.  “But, as Your Hometown Bank, we’re ALWAYS committed to helping you spot scams as an extra layer of protection for your account.  In partnership with the American Bankers Association, we joined a nationwide effort to fight phishing with the Banks Never Ask That campaign,” added Jamie.

Online scams aren’t so scary when you know what to look for, and we want you to become a pro at spotting a phishing scam.  It starts with these four words: Banks Never Ask That.  

Learn more as Jamie details four common phishing scams that are full of red flags:

  1. TEXT MESSAGE
    If you receive a text message from someone claiming to be your bank asking you to sign in, or offer up your personal information, it’s a scam. Banks Never Ask That.
     
  2. EMAIL
    Watch out for emails that ask you to click a suspicious link or provide personal information. The sender may claim to be someone from your bank, but it’s a scam. Banks Never Ask That.
     
  3. PHONE CALL
    Would your bank ever call you to verify your account number? No! Banks Never Ask That. If you’re ever in doubt that the caller is legitimate, just hang up and call the bank directly at a number you trust.
     
  4. PAYMENT APPS
    Beware of text messages from someone claiming to be your bank saying your account has been hacked. The scammer may ask you to send money to a new account they’ve created for you, but that’s a scam! Banks Never Ask That. 

You may have seen some of these scams before, but that doesn’t stop a scammer from trying.  For more tips, videos and resources to help you keep phishing criminals at bay, visit Fidelity’s Security webpage or BanksNeverAskThat.com.