Phone scam obtains bank account information

The association asks all bank customers to be aware of scam artists who are phoning with a variety of stories to obtain private financial information.

Among the false stories are:

o “We need to make sure your account is secure.”

o “The bank is failing and we want to protect your money.”

o “If you want to continue to receive your Medicare or Medicaid payments, we need your bank information.”

“Our banks do not ask for this information over the phone,” said Bill Ratliff, MBA executive vice president, in a news release. “If you think about it, the banks have this information already; they do not need to call their customers to get it.”

The association recommends customers contact their banks immediately if they have given out any personal information over the phone.