People in the military are known for looking out for one another. That’s why scammers set up camp outside military banks pretending to need help — just to get through the holidays. But take a tactical pause. This might be a scammer looking to use your phone to drain your bank accounts. Learn to spot and avoid this scam.
We’re hearing from people who’ve been approached outside a military bank like USAA or Navy Federal. Someone stops them and says they’re in a tough situation, can’t access their bank accounts, and need money for groceries. Sometimes they even have a crying child with them. They’ll ask you to send them a few bucks using the bank’s mobile app.
But once you open the app, the scammer reaches for your phone. You think they’re entering their phone number or email address to complete the transfer from that one account. But instead, the scammer is taking money from your other accounts, too. Some reports say the scammer distracts you with questions about your travel plans…while they apply for instant bank loans in your name and use other payment apps to transfer your money to their accounts.
To avoid this scam:
- Never hand over your phone to someone you don’t know. That’s a sign of a scam. Also, your bank may not reverse fraudulent transactions since it looks like you initiated them.
- Slow down. Scammers pressure you to act immediately. Taking a moment to think will often help you spot the scam.
Share this advice with your military loved ones this holiday season. And if you spot a scam like this one, tell your local police and your state attorney general. Then, tell the FTC at ReportFraud.ftc.gov.
