Sophisticated Scam Targets Digital Payments: A Warning from Montecito Bank & Trust

Doris Roof, Fraud Manager at Montecito Bank & Trust, shares a warning from processors of debit and credit cards. Fraudsters have found a way to trigger an alert about a suspicious transaction (which they instigated). After you receive a two-step verification code, the crooks call you and pretend to be your bank. They may request the two-step verification code that you were sent, pretending to try to help you. Don't fall for it! It's a ruse to gain access to your account so they can reset your password and gain access to your account. Remember, the caller ID may LOOK like it's coming from your own financial institution! Always call your bank directly after researching their legitimate phone number! Be sure to subscribe to Scam Squad so you don't miss any important Scam Alerts!