Feds Warn Veterans and Current Service Members About Impostor Scams
The Federal Trade Commission (FTC) and MilitaryConsumer.gov have been warning service members and veterans about malicious phone calls and other communications from impostors claiming to represent banking institutions and creditors. Scammers attempt to trick their targets into providing sensitive personal data or financial account information.
How the scams work
Bad actors are contacting current and former military personnel primarily via phone calls. They are also using text messages and emails to target potential victims. The criminals claim to be with the Navy Federal Credit Union, USAA Bank, and other financial institutions.
Once they contact their targets, the scammers request information, including Social Security, bank account, and credit or debit card numbers. They are also asking their victims to provide the credentials they use to log into their accounts.
Attackers claim that they need the information because they have detected suspicious or fraudulent account activity. They may claim that their targets' debit cards have been disabled or that some other urgent issue exists and needs to be resolved immediately.
All of these claims are, of course, false and are used by cybercriminals to gain access to their victims' accounts or personal data that may be used to facilitate other crimes up to and including identity theft.
The text messages and emails often include malicious links that, if clicked, will install malware on the victim's device.
How to avoid becoming a victim
Your financial institutions will not contact you and ask you for sensitive information like your account number or login credentials. Keep this in mind if you receive a phone call, text, or email that appears to be from your bank or a creditor requesting this type of information.
If your caller ID indicates that a call is coming from your bank or other financial institution, scammers likely will spoof the number from which they are calling. Spoofing refers to the tactic of causing a fake number to be displayed. Just because a call appears to be coming from a trusted source does not mean you should provide personal data or account information if requested. If you are asked to do so, terminate the call and contact the bank or financial institution using a number you know to be correct. Tell them about the call. If it was authentic, they will help you resolve the issue. If not, they will be alerted to the fact that a scammer is impersonating their personnel.
Do not click links in text messages or emails unless you are certain they are from a legitimate source. Don't open attachments in suspicious emails. Clicking links and opening attachments can lead to the installation of malware that could give an attacker complete control over your device, including access to sensitive data stored therein.
If you think you've been scammed...
If you believe you've been victimized by a cybercriminal, you can file a complaint online with the Federal Trade Commission at ReportFraud.ftc.gov.
If you are a victim of identity theft, you'll find resources at IdentityTheft.gov/#/ that allow you to file a report with the FTC and create a recovery plan. The plan will help you to notify creditors, place a freeze on your credit to limit the damages, deal with debt collectors, close bogus accounts opened in your name, file a criminal complaint with local law enforcement officials, and much more. This site is extremely helpful.
If you want to learn more about scams and other issues impacting active duty service members and veterans, visit MilitaryConsumer.gov.