Scam Prevention: Trending Scams and Their Red Flags

Trending scams

Stopping scams is everyone’s responsibility. Together, we can help keep your accounts protected.

Scam red flags

Scam details change, but red flags remain the same. Even if a story seems to make sense, verify the information through a trusted source.

Impersonation

Scammers may pretend to be someone you trust, like an official, someone from a familiar organization, a bank employee, a friend or a family member.
Emotion

They may tell you stories to make you feel fear, sympathy or love. They may urge you to ignore your instincts or lie about why you’re moving money.
False sense of urgency

Scammers may say there’s a problem that needs immediate attention to make you act before you think and rush you into making hasty decisions without consulting anyone you trust.
Rewards or threats

They may offer money, a job, or a prize, make claims of an emergency, or threaten you with legal action or notifying law enforcement.
Deception

They may tell you not to trust Bank of America employees, say to ignore warning messages or coach you on what to say — including to lie.
Unusual payment methods

Scammers may tell you to send money or payment in less common ways, such as a wire transfer, gift cards or non-traditional forms of payment like gold, cryptocurrency or pre-loaded debit cards.

Actions to take

Imposters are real, but their requests are not. Their goal is to deceive. Yours is to detect — and protect.

Stop

Don’t rush. If someone asks for money or personal info and it feels off, trust your instincts and don’t engage.

Verify

Even if the request appears legitimate, talk it over with someone you trust - like a friend or family member - or call a trusted and known number like from your card or statement.

Prevent & protect

Create complex passwords, use multi-factor authentication and biometrics like Face ID to help prevent and protect from scams.

[Music in background throughout]

Kris Fador:

Every year, data breaches expose millions of records. Cybercrime costs the global economy trillions of dollars, and the threat landscape changes as criminals exploit new gaps in the expanding digital space.

Managing these risks requires acquiring or building the right tools, and then putting them in the hands of the most innovative and committed cybersecurity teams.

These teams are equipped with a top-to-bottom view of our operations and the information we use, as well as a robust framework that allows them to respond at any time.

Bank of America is deeply committed to protecting our company and our client's information and assets from persistent and emerging cybersecurity threats.

We're also creating new dynamic cybersecurity solutions that help our colleagues and our clients around the globe prepare for, prevent, detect, mitigate, and then respond to and recover from cyber events.

We're invested in powerful cutting-edge technology to ensure that our more than 3,600 cybersecurity teammates have global reach and always-on visibility into our network and our operations.

We look inward as well as outward. Our cybersecurity processes and guidelines cover our internal operations, and we're constantly designing new ways to keep the criminals out, detecting them before they exploit vulnerabilities and containing incidents while improving defenses through our collective experiences.

Our cybersecurity team collaborates to create new strategies for data protection, regulatory compliance, and third-party management, while always staying vigilant against cybercrime.

The Bank's Global Information Security program brings together some of cybersecurity's brightest talents. People with diverse backgrounds and deep experience across a variety of traditional and non-traditional industries. We all benefit when established leaders in the field work together with the sharpest minds across generations.

Our customers and clients are innovating, breaking new ground, and solving problems constantly. The Global Information Security team at Bank of America provides the comprehensive security and insights they need to succeed.

We are better when we're together. With the right framework, tools and people, we're able to be always on to engage in the present while preparing for the future and empowering our customers and clients with the confidence to set and attain their most ambitious goals in today's dynamic and digital marketplace.

What would you like the power to do?

[On screen copy]

Always on, always resilient:

Bank of America’s Global Information Security

[On screen visual]

A Bank of America company logo

[On screen disclosures]

Neither Bank of America nor its affiliates provide information security or information technology (IT) consulting services. This material is provided “as is,” with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this material, and without warranty of any kind, express or implied, including but not limited to warranties of performance, quality and fitness for a particular purpose. This material should be regarded as general information on information security and IT considerations and is not intended to provide specific information security or IT advice nor is it any substitute for your own independent investigations. If you have any questions regarding your particular IT system or information secukrity concerns, please contact your IT or information security advisor.

“Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, derivatives, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc., which is a registered broker-dealer and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. is a registered as futures commission merchant with the CFTC and are members of the NFA.

Investment products offered by Investment Banking Affiliates:

Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value

[End of transcript]

We're committed to cybersecurity

Learn how we're safeguarding your information

Common scams

Social media

Cybercriminals are getting crafty on social media—using posts to trick you into sharing personal info or even money. Consider keeping profiles private, avoid suspicious links and never share sensitive details in posts, comments or direct messages.

Internet sales

Scammers post fake listings, advertise unreal low prices or sell counterfeit goods. They often demand upfront payment — then vanish, leaving you empty-handed. Ensure you verify sellers and use secure payment methods.

Imposter

Imposters pose as bankers, advisors or other trusted figures using fake phone numbers, websites, emails and social media to steal your info. They may access your accounts or open products in your name. Verify who you’re talking to and don’t click links.

Real estate

Imagine showing up to your new home or vacation rental to find out it doesn't exist. Scammers may take over listings and change contact information. Book through trusted platforms and verify the listing and owner.

Employment

Scammers may pose as recruiters, promising high pay for little effort, pressuring you to respond fast. They may ask for money upfront or send an advance but ask for part of the money back. Always research companies.

Investment

“Investment managers” who contact you with news of “opportunities” promising to double your money or guarantee returns are almost always scams. Be skeptical of get-rich-quick offers and never share info with strangers.

Romance

Scammers use dating apps and social media to build trust fast — then exploit it with emotional pleas that end in requests for money. Don’t send money to someone you’ve only met online and be cautious of urgent or emotional requests.

Tech

A pop-up warning, with a convenient tech support number, is likely a scam. These fake warnings are designed to scare you, and the unsolicited support could cause you to lose money. Close the pop-up immediately and don’t call the number.

What to do if you experience fraud or a scam

Steps to take to move forward

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Stay scam savvy: Know the types

Scam red flags

Impersonation

Emotion

False sense of urgency

Rewards or threats

Deception

Unusual payment methods