Vishing (voice phishing) is the act of using the phone in an attempt to scam you into compromising private information that will be used for identity theft. The fraudster usually pretends to be from a legitimate business, and fools you into thinking that you may somehow profit.
Vishing is typically used to steal credit card numbers or other information used in identity theft schemes.
Customers receive an unverified SMS stating that a bank official will contact them to verify or update their details.
Fraudster claim to be from a legitimate financial institution to trick customers into divulging their personal account information for example, One Time Password, ATM PIN, card number etc.
Fraudsters often tell customers that if they fail to upgrade, verify or confirm their personal account information, access to their account will be suspended.
VISHING TIPS:
- Banks will never ask you for login details such as ATM PIN, One Time Password or Customer Selected PIN. Avoid giving your credentials over the phone or email.
- Protect your confidential account information from Vishing, Phishing and Malware by ensuring that you are receiving payment notifications.
- Report unknown and suspicious transactions on your account immediately.