American Bankers Association launches campaign against impersonation scams
A new education drive called Banks Never Ask That teaches customers to spot fake bank texts and calls. It comes after a fraudulent message posing as Bank of America, with the group aiming to prevent billions in losses.
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What happened
The American Bankers Association launched a campaign called Banks Never Ask That to help consumers recognize scam texts and calls. It followed a scam text that falsely claimed to come from Bank of America. The campaign teaches the warning signs that banks say they never use.
Why it matters
The association hopes the campaign will prevent billions of dollars in losses to scams.
Timeline
- Oct 13, 7:13 PM ET: A scam text claiming to be from Bank of America was sent, and an industry campaign aimed at spotting impersonation fraud was highlighted.
- Oct 14, 7:59 AM ET: The American Bankers Association said it hopes the campaign will prevent billions of dollars in losses to scams.
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