Get the app


5 Ways to Spot a Fake Online Banking Email

September 27, 2022

5 Ways to Spot a Fake Online Banking Email  

Identity thieves are getting more clever by the day. Whether they use scam phone calls or purchase people's personal information on the dark web, the methods they are using to separate you from your money are growing more sophisticated.

One smart way these criminals are duping everyday people is through fake online banking emails. Although these emails appear to be legitimate, there are a few ways you can tell if they are the real deal or not. Here's how you can spot a fake banking email and avoid getting taken for a ride.

1. Random Sender's Address

Look at the sender's email address. If it's from somewhere other than your bank, chances are it's a scam. If you're not sure which email address your bank usually uses, you can search through your emails for previous messages from the bank to see how they compare.

2. Overly Vague Message

The bank will know who you are, addressing you personally by name. If you find that the email uses a general or vague term to address you, or has used the wrong name, that's a big sign that there's something wrong.

3. Typos and Strange Grammar

Many times, scammers are operating out of countries where English is not widely spoken. They either type these messages themselves or buy them from other swindlers. If you see some typos, watch out! Copy and paste parts of the email into a search engine. More often than not, the entire email will pop up on a fraud tracking website.

4. Requesting Personal Information

Banks should not be asking for personal information that you have already provided. Identity thieves want to get your social security number, previous employers information, date of birth, and anything else they can to open credit in your name and start racking up bills. If the email is asking for any personal information, beware and don't reply.

5. Outside Website Links

Criminals who send fake banking emails include links that go to seemingly real websites where they can collect your information. These links will not go back to the website of the bank, but instead to a different website designed to look like a legitimate online banking site. Always double check the links in your web browser to make sure you're on the real banking website.

Online banking is a great tool for saving time and managing your finances. However, as the world becomes more dependent on online banking services, criminals will seek to use the internet to profit from others. Keep the points above in mind before you trust any online banking email, to stay one step ahead of these would-be scammers.

If you feel that you have received a scam email, remember not to log in via any links or provide your personal information. Instead, inform your bank so they are aware of the situation and can take steps to stop others from falling prey to a scam. To see if there actually is a problem with your account, either call your bank or go directly to the bank's website.