With the use of digital wallets on the rise, an old phishing text scam has resurfaced, targeting mobile payment services such as Venmo, PayPal, and others. According to our Fraud Team, consumers have reported receiving a text message stating that their account was linked to a recent transfer and to contact Customer Support if it was not initiated by them.
Similar to other text scams, calling the Customer Support number provided in the text message connects the person to the scammer, who is posing as a customer service representative. The scammer claims that in order to refund the transaction, the person needs to download an application that allows remote access to their device, then will instruct them to sign in to their online banking.
Once the person is signed in to their account, the scammer will either move money between the person’s accounts or manipulate the online code to make it look like the person received a large refund. The scammer will then claim they refunded too much money to the account and will ask the person to use a mobile payment service to pay back the difference. If the person agrees, they will lose any money they send, and their device and bank accounts will be compromised.
It’s important to note that mobile payment services do send messages confirming activity. But they will not request remote access to your devices, nor will they ask for money. If you ever receive a similar call or text, ignore it and contact the service directly through the phone number provided on their website to confirm authenticity.
If you’re a Merrimack customer and are concerned your personal or financial information was compromised, please call us directly at 603.225.2793.