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Michigan AG warns of bank, credit union imposter scams

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Fraudsters have reportedly used spoofing technology to make the caller ID appear to be from a legitimate source.

Scammers ask for account credentials or personal information, which they can use to access and even drain accounts

Michigan Attorney General Dana Nessel on Wednesday reissued her consumer alert on imposter scams.This move follows reports of scammers impersonating banks or credit unions to steal financial and personal information.

Her office says the fraudsters have reportedly used spoofing technology to make the caller ID appear to be from a legitimate source.They then may falsely claim there is an issue with a consumer’s account, such as unauthorized transactions or overdrafts, and offer to resolve it.During these calls, the scammer asks for account credentials or personal information, which they can use to access and even drain accounts.

AG Nessel says, “Bad actors rely on urgency and spoofing technology to trick Michigan consumers into giving up access to their hard-earned money.”

Nessel’s’ office says consumers can protect themselves from imposter scams by never transferring or sending money, cryptocurrency or gold to someone you don’t know in response to an unexpected call.Also, do not share personal information with an unsolicited caller.

Michiganders should report any suspicious activity related to insurance and financial services either online, or by calling the Department of Insurance and Financial Services at 877-999-6442.

Jennifer is an award winning broadcast news journalist with more than two decades of professional television news experience including the nation's fifth largest news market. She's worked as both news reporter and news anchor for television and radio in markets from Grand Rapids and Kalamazoo all the way to San Francisco, California.
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