Bank Fraud Attempts Driven by “Vishing”

Customers of three banks in the Eastern U.S. have been subjected to a new telephone phishing scam. In an attempt to retrieve personal account information customers receive an automated phone call, supposedly from their bank, asking them to call a toll-free number to renew their services need to be updated. For the customers that called the number, they were asked for account information.

Dubbed as “vishing”, a mix between “voice” and “phishing”, fraudsters use Voice over IP in their attempts to steal personal information. With email phishing become highly recognizable, vishing could be the next wave of fraud. As fraudsters become more creative in finding ways to obtain confidential information, companies must be equally creative and proactive to halt them in their tracks.