DOTHAN, Ala. (WDNews) — The Federal Bureau of Investigation is warning residents about a fast-growing scam that allows cybercriminals to take over personal and business financial accounts, often draining them before victims know anything is wrong.
According to the FBI’s Internet Crime Complaint Center, scammers are increasingly using Account Takeover Fraud Schemes. Criminals impersonate banks or financial institutions through calls, texts, emails or fake websites to trick victims into giving up login details, one-time passcodes or other sensitive information. They often pose as bank employees or technical support, claiming to be verifying suspicious activity.
Once the scammers have enough information, they log in to the real account, initiate a password reset and lock the victim out. In some cases, they claim the victim’s information was used to make fraudulent firearm purchases, then transfer the call to someone impersonating law enforcement to gain even more access. Fraudsters also use phishing websites designed to look like legitimate banking pages.
After gaining control, the cybercriminals quickly transfer funds into other accounts, many tied to cryptocurrency wallets, making the money difficult to trace or recover.
The FBI says it has received more than 5,100 complaints about account takeover fraud so far this year, with losses topping $262 million.
Officials urge the public to protect themselves by limiting personal information shared online, monitoring financial accounts closely, using strong and unique passwords, enabling two-factor or multi-factor authentication, and accessing bank websites only through saved bookmarks. They also warn against trusting caller ID and recommend hanging up and calling the verified bank number directly if anything seems suspicious.
Anyone who believes they’ve been targeted should report the incident to the FBI’s Internet Crime Complaint Center.
