The FBI has issued a nationwide alert about a banking scam that has affected over 5,100 people, leading to losses of more than $262 million. Cybercriminals are posing as banks to steal money and sensitive information from individuals and businesses. Since January 2025, reports of these scams have surged by 21% compared to early 2024 and have skyrocketed by 141% since 2021.
Scammers use various tricks to access accounts, pretending to be bank employees or creating fake websites. They often reach out through texts, emails, or calls, acting as bank staff or tech support to get login details, including multi-factor codes and one-time passwords. During the holiday season, they specifically target shoppers, using names of popular brands to lure victims and steal their data. This makes the 2025 holiday period especially risky.
Once they gain access, hackers quickly transfer money to other accounts, often linked to cryptocurrency wallets, making it hard to recover lost funds. They may even change passwords to lock real users out of their accounts.
To stay safe, the FBI recommends checking your financial accounts regularly and using strong, unique passwords. Always enable two-factor authentication and be cautious of unexpected calls or messages claiming to be from your bank. Avoid clicking on login links from search results or ads. If you think you’ve been a victim of account takeover, contact your bank right away. Request a reversal of any unauthorized transactions and keep records of everything. Report suspicious wire transfers to your bank and the FBI. Update any compromised login information and inform any companies affected by the scam to help shut down fake sites. Stay alert and protect yourself!
