You check your email and see an update about a new bank account in your name. Or perhaps you view your checking account statement and find unauthorized debit card transactions listed. Whatever the case, being the victim of a banking scam is a terrible feeling.
Bank scams are common, and with increased use of technology and digital-savvy fraudsters, the problem is getting worse. In fact, the Federal Trade Commission (FTC) reported that consumers lost more than $10 billion to fraud in 2023.
Despite the prevalence of fraud, you can prevent it from happening to you by learning how common bank scams work and taking steps to protect your information.