tellows Investigates the Big Bank Phone Scams in the United States

tellows Insights Report
Richard Grant
Richard Grant - Expert in Telecommunications and User Protection
Richard is responsible for tellows' Consumer Protection department and is responsible for investigating all matters relating to telephone fraud, with a particular focus on developments in the telecommunications sector. Last updated: Feb 26, 2024
 
As digital connectivity advances, so does the sophistication of scammers, with banking phone scams emerging as a significant threat in the United States. According to recent tellows data, these scams are on the rise, impacting unsuspecting individuals nationwide.



tellows Amazon Infografik
tellows Insights: Distribution of phone numbers assigned to Banking*

Official Banking numbers with positive ranking

tellows users submitted to 4 different phone numbers a total of 18 ratings.
PhoneNumber Ratings Caller Example Score
8009336262 5 Bank of America (Phishing scam) Bank of America assisting with accessing the daily limit configuration of my account. 4
9049541207 5 Citi Bank Caller knew my name, gave a return call number of 888 201 4523, asked if I had submitted an applicat 3
8006278372 4 Mastercard (lost card) I called this number on the back of my bank card for Mastercard support. 2
8887622265 4 PNC BANK 3



Tactics Employed by Scammers: A Closer Look

Fraudsters employ various tactics in banking phone scams, exploiting trust and leveraging technology:
  1. Impersonating Bank Representatives: Scammers pose as legitimate bank officials, contacting individuals via phone calls or text messages. They often claim urgent issues with accounts or transactions, creating a sense of urgency.
  2. Spoofing Caller ID: Utilizing advanced technology, scammers manipulate caller ID information to make it appear as if the call is coming directly from the victim's bank. This deceptive tactic increases the likelihood of individuals answering the call.
  3. Social Engineering Techniques: Scammers may use social engineering to gather information about potential victims. By piecing together details from public sources, they create a convincing facade, making individuals more susceptible to manipulation.
  4. Phishing for Personal Information: In the guise of addressing account concerns, scammers attempt to extract sensitive information such as account numbers, passwords, and other confidential details. This information is then misused for identity theft or unauthorized transactions.
John's Experience: In a recent incident, John received a call 4077322416 from an individual alleging to represent Amazon, asserting he had outstanding bills. Wary of the situation, John hung up and promptly contacted Amazon, only to discover he had no pending payments. Intrigued, he called back the number provided, now identified as a reported Chase scam. Another person claimed access to his information. John, quick to act, reached out to his bank, which confirmed the call as a fake Chase number, listed under reported scams. Armed with Chase's authentic contact details, John sought clarification directly from the bank, learning that the scam number matched their internal line. To his surprise, Chase had no record of any account under his name. The suspicious calls ceased abruptly after this revelation.

Alarming Statistics: tellows data underscores the concerning prevalence of banking phone scams in the United States:
  1. Frequency of Calls: A surge in the frequency of calls reported by tellows users, with a significant uptick in the number of individuals targeted by banking phone scams.
  2. Financial Losses: Individuals falling victim to these scams report substantial financial losses. Scammers exploit trust to coerce victims into making unauthorized transfers or disclosing sensitive information.
  3. Geographical Impact: tellows data reveals that banking phone scams are not limited to specific regions, impacting individuals across the nation.

Scam or Fraud Calls Claiming to be from a Bank:

tellows users submitted to 5 different phone numbers a total of 60 ratings.
PhoneNumber Ratings Caller Example Score
8883831833 5 scammers ronald james cardwell, thief,bank scamming, using banks like netspend, pre pay cards, banks in vegas 9
4077322416 36 Chase Credit Card Caller ID populates as "JPMorgan Chase" - they called on a holiday when banks aren't open, I don't h 7
2126402000 13 AMEX Scan call about an illegal transaction of $11,000 in Xiamen, China by someone which committed a iden 8
8667342077 7 Citibank (Scam) Automated call (with voicemails) EVERY DAY for weeks claiming to be citibank. Banks will not call yo 7


Protecting Yourself: tellows Insights for Consumer Safety

tellows empowers consumers with crucial insights to protect against banking phone scams:
  1. Caller Identification: Use tellows app to verify the legitimacy of incoming calls, cross-referencing numbers with the extensive database of user-generated ratings.
  2. User Reviews: Leverage user reviews to understand others' experiences and identify potential scam patterns associated with specific numbers.
  3. Vigilance and Verification: Be cautious when receiving unsolicited calls or messages from alleged bank representatives. Verify the authenticity of the communication through official channels before sharing any personal or financial information.
  4. Community Reporting: Contribute to the tellows community by reporting and rating suspicious numbers, creating a collective defense against banking phone scams.
The Financial Landscape: A Sobering Reality In 2021, the Consumer Financial Protection Bureau reported almost 70,000 complaints lodged with the Federal Trade Commission, revealing losses totaling $130 million from consumers who unwittingly sent money to fraudsters through payment apps. The Bureau actively addresses payment fraud and encourages consumers to submit complaints at https://www.consumerfinance.gov/complaint.

tellows Insights for Journalists

This comprehensive study has been intricately assembled by the tellows Insights team, amalgamating exclusive tellows data with the proficiency of our researchers. Each day, tellows evaluates numerous user ratings, enabling the creation of insightful statistics and the identification of evolving scam trends associated with significant phone numbers. This approach enables us to zero in on active fraudsters and swiftly detect new suspicious phone numbers, augmenting scam detection and enhancing user protection.

Drawing from the extensive tellows database, our team is well-equipped to develop in-depth studies. Should you have any inquiries, please reach out to our team. You are welcome to utilize all the graphics and data in your editorial work, with proper source acknowledgment.

As of the latest update on Feb 26, 2024, we have assessed these phone numbers, assigning them tellows scores ranging from 1 (trustworthy) to 9 (dubious). This scoring system gauges the level of risk associated with each phone number, with higher scores indicating more dubious callers. In this report, we focus on numbers categorized under Banks, considering the count of reported phone numbers associated with this label by tellows users.

*User interest for numbers assigned to Banks in USA




tellows Insights Report