A BANK of America customer was left in despair after more than $20,000 was swindled from his bank account.
Jeff Drobman claimed the codes used to verify wire transfers are not safe.
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Thousands of dollars were wiped from his account after his cell phone was hacked, per Los Angeles-based NBC affiliate KNBC.
Before being told the money had vanished, Drobman said he received notifications from Bank of America.
The warnings claimed his password had been changed.
He then struggled to get through to his bank.
Drobman eventually got through to a worker who told him that around $21,000 had been taken – a sum that was eventually reimbursed.
“Are you kidding me?” he said.
It appears that Drobman’s number was transferred to a new device.
Fraudsters then accessed his texts and used two-factor authentication to deprive him of the funds.
“So the text message went not to my phone, but their phone,” Drobman fumed.
“So by hijacking my phone, they intercept my text back codes.”
A representative for Spectrum, his cell phone provider, said PINs are required when numbers are being transferred.
“I want to get the word out that text back codes are not safe,” he said.
A Bank of America representative said that Drobman’s case was resolved.
“We take identity theft very seriously, and it sometimes takes additional investigation to verify the fraud,” they said. “We are always working to improve our client’s experience toward a positive resolution.”
The U.S. Sun has approached Spectrum for further comment.
Bank of America has shared a series of tips regarding how its customers can detect signs of fraud.
Top tips on avoiding scams from a bank
As scams become more sophisticated with the use of artificial intelligence, it is important you know how to spot a scam:
- Be skeptical of online deals that seem too good to be true, especially on social media.
- Scammers will often use tactics to make you panicked so you make quick decisions – be cautious if you are told to take immediate action and verify who has contacted you.
- Chase Bank warns customers to “never return any unexpected funds without calling Chase first.”
- Never send money to someone you have only spoken to online or by phone as this is likely a romance scam.
- Unless you 100% know who you are talking to, never give someone remote access to your device.
- Never accept help from strangers at an ATM and always be vigilant when making withdrawals.
- Do not send money or click any links indicating that you have won a prize.
Source: Chase.com
Customers should be wary if they receive messages promising free gifts.
Users have been urged to read any text messages or emails that contain spelling or grammar errors.
They are also encouraged to forward any suspicious emails to the company’s fraud team.
Common signs of scams include messages that don’t address customers by name.
Officials at major banks have warned scammers can spoof cell phone numbers.
This tactic makes it seem like unsuspecting victims are receiving a call from their bank.
But it is designed to lure them into a false sense of security.
Banks never ask customers to share PINs, social security, or tax identification numbers.
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