Protect your finances from 'smishing'

POSTED: Wednesday, October 26, 2011 - 2:22pm
UPDATED: Friday, April 13, 2012 - 8:54am

Bank card holders beware.

A new scam has developed and it's out to get your credit card information.

Smishing, or cyber fishing is on the rise.

Which is where someone claims to be from your bank asking you for personal information, and whether you're contacted through a phone call, email, text message or fax, there is one thing all banks want you to know to protect yourself.

"Never, under any circumstances, give our their personal or financial information because of an unsolicited phone call. If you just get a phone call from out of the blue, even if it's someone claiming to be from your bank, who says your account's been closed due to fraud, and they need your credit card, don't give it to them. Ask for a number where you can call them back and then call your banker and ask about it," Wells Fargo Vice President Joe Stroop said.

The American Bankers Association has a few other tips to help keep your money safe.

Do not respond to an email stating dire consequences, always contact your bank first to make sure it's valid.

Also, check your credit card statements frequently because criminals will sometimes take small bits of money in hopes that it'll go unnoticed.

Never submit personal information online without the padlock sign at the bottom of your internet browser.

Lastly,  if you have replied to any of these scams, cancel your accounts immediately, contact your bank and contact the Internet Crime Complaint Center.

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