Wells Fargo Message Scam
Wells Fargo Message Scam: How It Works
Please keep your eyes open for a Wells Fargo message scam that comes with a link attached, indicating that you should respond to it. Some of you may have received a fake Wells Fargo text message stating that you have a pending transaction or some sort of problem with the account. Next, the notification says that you should confirm that you received the message directly from the bank itself.
An example of the Wells Fargo Text Scam is as follows: “Wells Fargo-Bank: We have detected unusual activity on your account. Follow the link for security reasons: https://bit.ly/3i1OxML.”
Always beware if you see that the text message is from an unknown messaging service or number – they are common phone scams. Cybercriminals use bogus text messages that seem to be from your credit card provider or your bank. Here is a screenshot of such notification that is NOT from Wells Fargo.
This is precisely what happens in the Wells Fargo Message Scam. We’re sure you’ve seen it before. It is very similar to the schemes applied, for example, in the HSBC text scam.
Unfortunately, many unsuspecting users and customers of the bank have fallen victim to the trick. The Wells Fargo Alert Text Scam has been able to trap many people by creating realistic scenarios and adding links that appear genuine.
How the Wells Fargo Text Scam Works
There are two typical methods that criminals perpetrating Wells Fargo Text Scam follow: sending text messages and phishing for your bank account details.
Phishing for your bank account details is the more popular method. Phishing scams represent a criminal activity that uses techniques and tricks to obtain your sensitive and vital information.
Once you click the link, you will get redirected to a fake Wells Fargo’s login page. This will not be the bank’s actual login page, but a phishing page that looks very similar to the real bank’s official page. An excellent way to check this is to compare the link of the actual bank to the one you have just received in a text message. The phishing page can never have the exact same link as the authentic bank, so you will be able to make out the difference.
Scammers can and will try their best to make the replica page look the same as the original Wells Fargo’s login page. But there will be minor differences that one can tell if you look close enough. For example, the ‘Remember Me’ or ‘Use’ token checkboxes or the copyright year at the very bottom of the page will be different. But these details are minor and not always scrutinized by the general user.
Ensuring that you enter your banking data in the actual bank’s login page and not the one the scammer has created is a crucial step. Putting your username and password will enable the scammers to save this information, and they will store it on their servers for future use.
Keep an Eye on the Codes Received
Since the scammers need a bit more information to complete the scam, they often send you additional messages on your mobile phone. For example, after you log in with your username and password, they will ask you to enter your phone number. This is done so that you are misdirected into thinking that an actual update is taking place while they steal your phone number as well.
If you receive a code on your phone to enter into the website, what happens is that it comes from the real Wells Fargo because the scammers are entering your data that you provide them into the legitimate Wells Fargo website.
While you enter it into the fake website, the scammers will use all of your real information stored in their servers and login to your account with the genuine Wells Fargo. In simple words, if you enter your details into the phishing banks page, all of your banking information will automatically get transferred to the scammers, and they will have full access to your account.
Alternatively, sometimes you may also receive emails instead of text messages. Or you may be sent a Wells Fargo text message that asks you to confirm a pending transaction with ‘Yes’ or ‘No.’
In case you reply to this request, it will ask you for the security message to your bank and give them full access to your bank account. It will not take long for the scammer to clear you of all your money directly from your bank account!
How to Prevent Wells Fargo Text Message Scam
Whenever you receive any text message, you will never be sure who sent it to you. If the Wells Fargo Text Message Scam asks you to call a specific number or urges you to click on a link, it will download some ransomware malware on your phone, tablet, or computer. So in simple words, you should not respond to that message or take any action that it urges you to do. If you mistakenly do so, you will most likely be a victim of the scammer and identify theft.
Maybe you have recently signed up for receiving text messages and emails from your bank. If you feel that a text message you have received is of concern and might be legitimate, you should act independently and contact your back. This way, you can determine if the text message was legitimate or if a scammer sent it.
Check The Bank’s Official Website
However, advice of caution would be to be very careful in dialing your bank’s phone number. Do not misdial your bank’s phone number. Another trick that is used by most scammers is to typically create very similar telephone numbers to those of legitimate credit cards and banks so that the customers are misdirected. The Wells Fargo Message scam has many variations.
If you want to contact your bank’s customer service, you can call the number indicated on the backside of your credit card. Also, you could log on to your bank’s website and get the number or email address from there.
Once you speak to your bank’s customer service, you will know whether the text message or email that you received is legitimate or a scam. If a good and reputed bank like Wells Fargo needs to send you a text message, they will typically include your name and the last four digits of your account in the text message.
Tips to Know in Case of a Wells Fargo Message Scam
No matter how genuine or authentic a text message, email, or phone call may be, never provide any personal information such as credit card or banking information. Some scammers even use pop-up windows on particular web pages that ask you for confidential and sensitive information. If you feel like the message you have received from a bank, government agency, or another entity is legitimate, you should take the initiative and call or email the concerned agency to clarify if the text or email you have received is authentic.
Another way to understand if you are being scammed is when you receive a text message or an email that says your account will be suspended or canceled if you don’t take immediate action. Also, be wary of surveys that ask you to give personal information like your bank account information.
Other scammers may also message, email, or text you stating that your account has actually been compromised and will ask you to provide your personal banking information. Beware of pages that ask you to update, confirm, or verify your banking information. These are tactics followed by most scammers do during the Wells Fargo Message Scam.
Beware of the Unsubscribe Trap
Scammers also try to fool you by sending you a text or email that requires you to respond whether you want to ‘stop future texts.’ Replying to such a text alters the scammer that your phone number is working and active.
Remember that banks and credit card agencies will never text, email, or call you asking for personal information. If you receive a text message, email, or phone call from an agency like a bank that you do not even have an account with, you will know that it is definitely a scam.
A good idea is to sign up with your bank for actual alerts and text messages. This will ensure that you receive legitimate messages from your bank or credit card company. Keep in mind that your bank will never try to solicit personal information from you. If you receive fraudulent text messages, you will automatically spot the difference between the scammers and the legitimate bank.
Before you enter any information about your bank’s website, always check and re-check to ensure that the site is authentic. There is no harm in being doubly cautious when it comes to divulging your personal information.
If you know or feel that a Wells Fargo Alert Text Scam has scammed you, please contact your bank immediately and freeze your account. Do not trust random text messages, emails, or phone calls that you receive from unfamiliar numbers.
Wells Fargo Suspicious Activity: How To Report a Scammer
Warn your family and friends about the Wells Fargo Message Scam by sharing this article as soon as possible. If you wonder how to report phone scams, you can officially do it to the FTC (Federal Trade Commission) using the link below:
How To Prevent Identity Theft and More
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