When in Doubt: Hang Up, Look Up, & Call Back
Summary: A California tech and security veteran identified only as "Mitch" lost more than $10,000 in a weeks-long phone scam in which callers spoofed his bank's number, told him about real fraudulent charges on his account, and never asked for personal details. On the following Monday he found a $9,800 outgoing wire posted to his account, sent to an online-only bank account opened in his name after he read back a one-time code the bank had texted to his phone.
What you should know: The fraud was completed entirely over the phone, and Mitch and his bank determined the scammers never once logged in to his account online - the one-time code the bank sent to his phone was the only credential they needed, and he handed it over.
Read the original at Krebs on Security ↗
- Topics
- Fraud & Scams
- Related
- ArcticRAT Cybercrime Gang Profiles Victim Finances With AI Cyber Risks · Nov 13, 2026Three People Arrested for AI-Enhanced Impersonation Fraud Cyber Risks · Nov 11, 2026Medicare scam calls, texts and ads: What to watch for this Open Enrollment Cyber Risks · Oct 14, 2026