Uncovering the Bank of America “Verify Identity” Scams
Written by: Stelian Pilici
Published on:
Fraudsters are constantly inventing new scams and techniques to try to steal your personal information and money. One common tactic is to send fake fraud or identity verification alerts pretending to be from major banks like Bank of America.
These scam messages are designed to lure unsuspecting recipients to provide sensitive information on fake websites. Unfortunately, they often appear convincing at first glance.
By understanding how this scam works and what to watch out for, you can avoid falling victim. This comprehensive guide will equip you to spot and report fake Bank of America fraud alerts.
This article contains:
Overview of the Bank of America Fake Fraud Alert Scam
This scam typically begins with an SMS text or email alert stating there is suspicious activity on your Bank of America account. The message urgently prompts you to “verify” your identity to regain access before your account is locked or closed.
Of course, the alert is not really from Bank of America at all. It’s from scammers trying to steal your personal and financial information.
Here are some examples of fake alert messages scammers may send:
“Alert: Unusual activity on your account has been detected. Please verify account ownership by clicking here {malicious link}. Failure to comply may result in restricted access.”
“Attention BofA customer: Temporary block on your account due to suspicious transactions. Please confirm identity immediately at {fake site URL} or your account will be frozen.”
“BofA Fraud Alert – Immediate action required: Click here {malicious link} to verify recent transactions on your account and avoid suspension.”
The messages are designed to create urgency and panic so that recipients act before thinking it through. The scam banks on people not taking the time to check whether the message is real.
If you click the link, it takes you to a fake Bank of America login page that steals any information you enter. In other cases, it goes to an “account verification” page asking for personal details like your full name, SSN, account numbers, etc.
Armed with this info, scammers can steal your identity and drain your accounts. They may also sell your information on the dark web to other cybercriminals.
How the Bank of America Fake Fraud Alert Scam Works
Let’s break down how scammers carry out this scam from start to finish:
Step 1: Scammers Obtain Recipients’ Contact Information
The first thing fraudsters need to launch this scam is your phone number or email address. There are a few ways they can obtain this info:
Data breaches – Your contact info may have been exposed in a previous company data breach. Scammers can buy huge databases of people’s info on the dark web.
Phishing sites – You may have entered your phone/email on a fake website previously without realizing it was a scam.
Social engineering – Scammers may call pretending to be from your bank and trick you into providing your info.
Guessing – Some scammers send out mass texts or emails to random numbers/addresses hoping some belong to real BofA customers.
Step 2: Craft a Convincing (but Fake) Fraud Alert
Next, scammers need to create a message that looks legit enough to fool people. They often closely mimic the style of real Bank of America alerts.
Some techniques they use include:
Using Bank of America’s name/logo – This makes the message appear to come from a real @bankofamerica.com email address or recognized number.
Urgent wording – Phrases like “immediate action required” give the impression your account is at risk if you don’t act quickly.
Threats of account suspension – Scammers know recipients want to avoid disruption to their banking access.
Requests to “verify” identity – This sounds like a normal security measure banks take against unauthorized activity.
Official-looking links – The fake site URLs look convincing, often including BofA’s name or acronyms like “secure” or “protect.”
Step 3: Send Out Mass Alerts and Wait for Responses
Once scammers compile contact info and create fake alerts, they blast out mass messages. The more people they reach, the more potential victims they hook.
Low-tech scammers may manually call or text numbers. Those more sophisticated use bot programs to automatically spam thousands of numbers/emails at once.
Then scammers wait to see who takes the bait by clicking the link or calling the number included. People who respond become targets.
Step 4: Direct Victims to Fake Bank of America Websites
When someone clicks the link in the alert, it sends them to a fake website instead of the real Bank of America login page.
The sites are designed to precisely mimic the look and feel of actual BofA sites to trick people into entering their credentials.
In other cases, the link goes to an “account verification” page asking the user to enter a wealth of personal information – SSN, account number, address, full name, etc. – to “confirm their identity.”
Either way, any details entered end up in the hands of scammers.
Step 5: Steal Victims’ Personal and Financial Information
Once scammers have your sensitive info, they can use it in various damaging ways:
Drain your accounts – With account usernames/passwords, they can log in and initiate transfers or withdrawals.
Open new accounts – Armed with your SSN and other details, scammers can open fraudulent credit cards or loans in your name.
Sell your information – Scammers frequently sell identity theft victims’ information on the dark web for other crooks to use.
Commit tax fraud – Stolen SSNs can be used to file fake tax returns and steal refunds.
Access medical records – Scammers can obtain medical ID numbers and birthdates to illegally access health records.
As you can see, this scam can have far-reaching financial and identity theft consequences if you fall for it.
What to Do If You Get a Fake Bank of America Fraud Alert
If you receive an SMS, email, or call claiming to be a fraud alert from Bank of America, here are the steps to take:
Double Check the Message Source
Take a close look at where the message came from before acting on anything it says.
For texts: Check that the originating number matches Bank of America’s real fraud text alert system. The legitimate number is always 908-762-5998.
For emails: Carefully examine the sender address. If it’s not an @bankofamerica.com or @bofaml.com address, it’s fake.
For calls: Ask for the person’s name/employee ID number. Look up BofA’s fraud department number independently and call back to verify if they really tried to reach you.
If anything looks fishy, assume the message is a scam attempt.
Avoid Clicking Links or Calling Numbers
Never click links or call phone numbers provided in suspected scam messages. This risks exposing your device or information to scammers.
Instead, independently look up and dial Bank of America’s official customer service line if you want to check on possible account issues.
For text messages, forward them to Bank of America’s spam reporting number 7726 before deleting.
Log In Through Official Channels Only
Go directly to the Bank of America website or mobile app. Do not attempt to log in through any links sent to you.
Check your account for any messages from BofA noting suspicious activity – if the fraud alert was real, you’ll see the same warnings when securely logged in.
Contact Bank of America Immediately
If there are signs of unauthorized transactions or fraud, call Bank of America’s 24/7 customer service at 800-432-1000.
Also contact them if your account credentials may have been compromised at any point from a data breach, phishing scam, or other source. They can implement enhanced security measures.
You can also notify BofA of any scam texts or calls by forwarding details to abuse@bankofamerica.com.
Check Credit Reports and Account Statements Routinely
Keep a close eye on your credit reports and bank/card statements for any signs of misuse of your information. Immediately report any unknown accounts or charges to the company’s fraud department.
Consider setting up transaction alerts for real-time notifications as well. This allows quick action against any suspicious activity.
Beware of Follow Up Scam Calls
The initial fake alert may be followed by scam calls claiming there is an urgent issue that needs your cooperation to resolve.
If you get calls about preventing account suspension, fraud investigation, unpaid taxes, or any other pushy demands, hang up. Call back on Bank of America’s official line if concerned.
Update Passwords and Enable Extra Security
If there is any chance your Bank of America account credentials were compromised, change your username and password immediately. Make them long and complex.
Also set up two-factor authentication if available, which adds an extra layer of account security.
Avoiding Bank of America Scams in the Future
Once you know how to recognize and handle fake Bank of America alerts, you can avoid being fooled in the future by:
Never clicking links or calling numbers in unsolicited messages. Always log in directly.
Using security software that blocks spam texts/calls and alerts to risky links.
Enabling transaction alerts/notifications through your real BofA account.
Periodically changing account passwords and not reusing passwords between sites.
Checking your credit reports regularly and setting up transaction monitoring through your bank.
Educating family members, especially elderly relatives, on identifying common bank scams.
Staying vigilant will reduce the chances of falling victim to the endless array of scams aimed at Bank of America customers and tricking them into giving up valuable personal data.
Frequently Asked Questions about Fake Bank of America Fraud Alerts
How can I tell if a fraud alert text or email is really from Bank of America?
Legitimate Bank of America texts will always come from 908-762-5998. Emails should come from a @bankofamerica.com or @bofaml.com address. If the source looks different, it’s a scam.
What details should I avoid providing if I suspect a fake alert message?
Never give out your SSN, account numbers, online banking credentials, or other personal information in response to unsolicited requests. Real Bank of America fraud alerts will never ask for sensitive data over text or email.
What if I already clicked the link or called the number in a potential scam message?
If you may have already provided any sensitive personal or account information, contact Bank of America immediately to report it and have new account credentials issued. Monitor your accounts extremely closely for signs of misuse.
Is there a way to stop or block these fake Bank of America alerts?
You can report scam texts to 7726 and emails to abuse@bankofamerica.com. However, scammers constantly change numbers and addresses, so there’s no foolproof way to avoid them completely. Staying alert is your best defense.
Could a fake fraud alert message signal my device is infected with malware?
Possibly. If scammers have infected your phone or computer, they can more easily send messages that look like they’re coming from a legitimate source. Run security scans to check for malware or viruses just in case.
What should I do if I receive a follow up call related to a fake alert I got?
Scammers may call pretending to be BofA fraud agents to try to get your information over the phone. Hang up immediately and call Bank of America directly if you have any account security concerns.
Can these scammers really steal my identity just from getting some personal information?
Unfortunately yes. With just a few key details like your SSN and birthdate, criminals can open fraudulent accounts or access medical records. Protect your info from scammers at all costs.
Is Your Device Infected? Check for Malware
If your device is running slowly or acting suspicious, it may be infected with malware. Malwarebytes Anti-Malware Free is a great option for scanning your device and detecting potential malware or viruses. The free version can efficiently check for and remove many common infections.
Malwarebytes can run on Windows, Mac, and Android devices. Depending on which operating system is installed on the device you’re trying to run a Malwarebytes scan, please click on the tab below and follow the displayed steps.
Malwarebytes For WindowsMalwarebytes For MacMalwarebytes For Android
Scan your computer with Malwarebytes for Windows to remove malware
Malwarebytes stands out as one of the leading and widely-used anti-malware solutions for Windows, and for good reason. It effectively eradicates various types of malware that other programs often overlook, all at no cost to you. When it comes to disinfecting an infected device, Malwarebytes has consistently been a free and indispensable tool in the battle against malware. We highly recommend it for maintaining a clean and secure system.
Download Malwarebytes for Windows
You can download Malwarebytes by clicking the link below.
After the download is complete, locate the MBSetup file, typically found in your Downloads folder. Double-click on the MBSetup file to begin the installation of Malwarebytes on your computer. If a User Account Control pop-up appears, click “Yes” to continue the Malwarebytes installation.
Follow the On-Screen Prompts to Install Malwarebytes
When the Malwarebytes installation begins, the setup wizard will guide you through the process.
You’ll first be prompted to choose the type of computer you’re installing the program on—select either “Personal Computer” or “Work Computer” as appropriate, then click on Next.
Malwarebytes will now begin the installation process on your device.
When the Malwarebytes installation is complete, the program will automatically open to the “Welcome to Malwarebytes” screen.
On the final screen, simply click on the Open Malwarebytes option to start the program.
Enable “Rootkit scanning”.
Malwarebytes Anti-Malware will now start, and you will see the main screen as shown below. To maximize Malwarebytes’ ability to detect malware and unwanted programs, we need to enable rootkit scanning. Click on the “Settings” gear icon located on the left of the screen to access the general settings section.
In the settings menu, enable the “Scan for rootkits” option by clicking the toggle switch until it turns blue.
Now that you have enabled rootkit scanning, click on the “Dashboard” button in the left pane to get back to the main screen.
Perform a Scan with Malwarebytes.
To start a scan, click the Scan button. Malwarebytes will automatically update its antivirus database and begin scanning your computer for malicious programs.
Wait for the Malwarebytes scan to complete.
Malwarebytes will now scan your computer for browser hijackers and other malicious programs. This process can take a few minutes, so we suggest you do something else and periodically check the status of the scan to see when it is finished.
Quarantine detected malware
Once the Malwarebytes scan is complete, it will display a list of detected malware, adware, and potentially unwanted programs. To effectively remove these threats, click the “Quarantine” button.
Malwarebytes will now delete all of the files and registry keys and add them to the program’s quarantine.
Restart your computer.
When removing files, Malwarebytes may require a reboot to fully eliminate some threats. If you see a message indicating that a reboot is needed, please allow it. Once your computer has restarted and you are logged back in, you can continue with the remaining steps.
Your computer should now be free of trojans, adware, browser hijackers, and other malware.
If your current antivirus allowed this malicious program on your computer, you may want to consider purchasing Malwarebytes Premium to protect against these types of threats in the future. If you are still having problems with your computer after completing these instructions, then please follow one of the steps:
Scan your computer with Malwarebytes for Mac to remove malware
Malwarebytes for Mac is an on-demand scanner that can destroy many types of malware that other software tends to miss without costing you absolutely anything. When it comes to cleaning up an infected device, Malwarebytes has always been free, and we recommend it as an essential tool in the fight against malware.
Download Malwarebytes for Mac.
You can download Malwarebytes for Mac by clicking the link below.
When Malwarebytes has finished downloading, double-click on the setup file to install Malwarebytes on your computer. In most cases, downloaded files are saved to the Downloads folder.
Follow the on-screen prompts to install Malwarebytes.
When the Malwarebytes installation begins, you will see the Malwarebytes for Mac Installer which will guide you through the installation process. Click “Continue“, then keep following the prompts to continue with the installation process.
When your Malwarebytes installation completes, the program opens to the Welcome to Malwarebytes screen. Click the “Get started” button.
Select “Personal Computer” or “Work Computer”.
The Malwarebytes Welcome screen will first ask you what type of computer are you installing this program, click either Personal Computer or Work Computer.
Click on “Scan”.
To scan your computer with Malwarebytes, click on the “Scan” button. Malwarebytes for Mac will automatically update the antivirus database and start scanning your computer for malware.
Wait for the Malwarebytes scan to complete.
Malwarebytes will scan your computer for adware, browser hijackers, and other malicious programs. This process can take a few minutes, so we suggest you do something else and periodically check on the status of the scan to see when it is finished.
Click on “Quarantine”.
When the scan has been completed, you will be presented with a screen showing the malware infections that Malwarebytes has detected. To remove the malware that Malwarebytes has found, click on the “Quarantine” button.
Restart computer.
Malwarebytes will now remove all the malicious files that it has found. To complete the malware removal process, Malwarebytes may ask you to restart your computer.
Your Mac should now be free of adware, browser hijackers, and other malware.
If your current antivirus allowed a malicious program on your computer, you might want to consider purchasing the full-featured version of Malwarebytes Anti-Malware to protect against these types of threats in the future. If you are still experiencing problems while trying to remove a malicious program from your computer, please ask for help in our Mac Malware Removal Help & Support forum.
Scan your phone with Malwarebytes for Android to remove malware
Malwarebytes for Android automatically detects and removes dangerous threats like malware and ransomware so you don’t have to worry about your most-used device being compromised. Aggressive detection of adware and potentially unwanted programs keeps your Android phone or tablet running smooth.
Download Malwarebytes for Android.
You can download Malwarebytes for Android by clicking the link below.
In the Google Play Store, tap “Install” to install Malwarebytes for Android on your device.
When the installation process has finished, tap “Open” to begin using Malwarebytes for Android. You can also open Malwarebytes by tapping on its icon in your phone menu or home screen.
Follow the on-screen prompts to complete the setup process
When Malwarebytes will open, you will see the Malwarebytes Setup Wizard which will guide you through a series of permissions and other setup options. This is the first of two screens that explain the difference between the Premium and Free versions. Swipe this screen to continue. Tap on “Got it” to proceed to the next step. Malwarebytes for Android will now ask for a set of permissions that are required to scan your device and protect it from malware. Tap on “Give permission” to continue. Tap on “Allow” to permit Malwarebytes to access the files on your phone.
Update database and run a scan with Malwarebytes for Android
You will now be prompted to update the Malwarebytes database and run a full system scan.
Click on “Update database” to update the Malwarebytes for Android definitions to the latest version, then click on “Run full scan” to perform a system scan.
Wait for the Malwarebytes scan to complete.
Malwarebytes will now start scanning your phone for adware and other malicious apps. This process can take a few minutes, so we suggest you do something else and periodically check on the status of the scan to see when it is finished.
Click on “Remove Selected”.
When the scan has been completed, you will be presented with a screen showing the malware infections that Malwarebytes for Android has detected. To remove the malicious apps that Malwarebytes has found, tap on the “Remove Selected” button.
Restart your phone.
Malwarebytes for Android will now remove all the malicious apps that it has found. To complete the malware removal process, Malwarebytes may ask you to restart your device.
Your phone should now be free of adware, browser hijackers, and other malware.
If your current antivirus allowed a malicious app on your phone, you may want to consider purchasing the full-featured version of Malwarebytes to protect against these types of threats in the future. If you are still having problems with your phone after completing these instructions, then please follow one of the steps:
Restore your phone to factory settings by going to Settings > General management > Reset > Factory data reset.
Bank of America fake fraud alerts can seem legitimate and convincing at first glance. But as shown, they are an attempt by scammers to capture your information by impersonating a trusted institution.
Now that you know the detailed workings of this scam, telltale signs to spot, and steps to take if targeted, you can keep your accounts and identity secure. Don’t let scammers rush or panic you into clicking suspicious links.
Whenever contacted out of the blue regarding your accounts, take time to independently verify the communication before providing information or access. Putting scammers on mute by flagging their texts and emails helps shut down their shady operations too.
Staying calm and informed is your best defense against the nonstop barrage of scams targeting bank customers.
How to Stay Safe Online
Here are 10 basic security tips to help you avoid malware and protect your device:
Use a good antivirus and keep it up-to-date.
It's essential to use a good quality antivirus and keep it up-to-date to stay ahead of the latest cyber threats. We are huge fans of Malwarebytes Premium and use it on all of our devices, including Windows and Mac computers as well as our mobile devices. Malwarebytes sits beside your traditional antivirus, filling in any gaps in its defenses, and providing extra protection against sneakier security threats.
Keep software and operating systems up-to-date.
Keep your operating system and apps up to date. Whenever an update is released for your device, download and install it right away. These updates often include security fixes, vulnerability patches, and other necessary maintenance.
Be careful when installing programs and apps.
Pay close attention to installation screens and license agreements when installing software. Custom or advanced installation options will often disclose any third-party software that is also being installed. Take great care in every stage of the process and make sure you know what it is you're agreeing to before you click "Next."
Install an ad blocker.
Use a browser-based content blocker, like AdGuard. Content blockers help stop malicious ads, Trojans, phishing, and other undesirable content that an antivirus product alone may not stop.
Be careful what you download.
A top goal of cybercriminals is to trick you into downloading malware—programs or apps that carry malware or try to steal information. This malware can be disguised as an app: anything from a popular game to something that checks traffic or the weather.
Be alert for people trying to trick you.
Whether it's your email, phone, messenger, or other applications, always be alert and on guard for someone trying to trick you into clicking on links or replying to messages. Remember that it's easy to spoof phone numbers, so a familiar name or number doesn't make messages more trustworthy.
Back up your data.
Back up your data frequently and check that your backup data can be restored. You can do this manually on an external HDD/USB stick, or automatically using backup software. This is also the best way to counter ransomware. Never connect the backup drive to a computer if you suspect that the computer is infected with malware.
Choose strong passwords.
Use strong and unique passwords for each of your accounts. Avoid using personal information or easily guessable words in your passwords. Enable two-factor authentication (2FA) on your accounts whenever possible.
Be careful where you click.
Be cautious when clicking on links or downloading attachments from unknown sources. These could potentially contain malware or phishing scams.
Don't use pirated software.
Avoid using Peer-to-Peer (P2P) file-sharing programs, keygens, cracks, and other pirated software that can often compromise your data, privacy, or both.
To avoid potential dangers on the internet, it's important to follow these 10 basic safety rules. By doing so, you can protect yourself from many of the unpleasant surprises that can arise when using the web.
Meet Stelian Pilici
Stelian leverages over a decade of cybersecurity expertise to lead malware analysis and removal, uncover scams, and educate people. His experience provides insightful analysis and valuable perspective.
