Don’t Fall for the Fake BofA Account Closure Threat Email Scam

Getting an email supposedly from your bank asking you to verify personal information can be alarming. But when that message is actually from scammers trying to steal your data, failing to recognize it can have disastrous effects.

This in-depth guide will reveal the sinister workings of fake Bank of America account verification emails, how to spot them, and steps to take if you received one. Don’t let scammers fool you into handing over the keys to your sensitive information.

An Overview of the Fake Bank of America Verification Email Scam

This scam starts with an email appearing to come from Bank of America. It claims there is an issue with your account that requires immediate action to avoid consequences like suspension or closure.

The email prompts you to download an attached document or form to “verify” your identity and account ownership. But in reality, it is a phishing attempt to infect devices with malware or capture personal details for identity theft.

Here are some subject lines these scam emails use:

• URGENT: Please verify Bank of America account ownership
• BofA Account Alert: Identity confirmation required
• Continue uninterrupted access to your Bank of America accounts – Confirm account holder information NOW
• IMPORTANT: Account access will be terminated – Download update form attached

The emails are made to look like legitimate messages from BofA. They use logos, colors, and language mimicking real notifications. This tricks people into trusting the email enough to open the attachment.

Once downloaded, the “verification form” can unleash malware onto your device or prompt you to input information that scammers can use to infiltrate accounts and steal identities.

How Scammers Carry Out the Fake Account Verification Email Scam

Here is a step-by-step explanation of how scammers execute this scam:

Step 1: Obtain a List of Target Email Addresses

Scammers first need a batch of emails to spam their scam message to. They get these through:

• Buying stolen email lists on the dark web
• Phishing sites that collect entered emails
• Breached databases containing usernames and emails
• Guessing common email conventions like name@gmail.com

Step 2: Create a Convincing Email Appearing to be From Bank of America

Next, scammers need to draft an email that looks like it’s from BofA. They copy:

• Bank of America’s logo, colors, and font
• Standard email layout and sections
• Signature with employee name, department, contact info
• Professional tone and language

This makes the email appear 100% legitimate to recipients.

Step 3: Attach a Malicious “Verification” Document

A key part of the scam is the attached document that victims are prompted to download. It is displayed as a:

• PDF verification form
• Word doc account update questionnaire
• Text file new account holder agreement

But it actually contains embedded malware, viruses, or ransomware. Once downloaded, it infects the recipient’s device.

Step 4: Blast Emails En Masse to Recipients

Using email spoofing tools and bot networks, scammers send their scam messages to tens of thousands of recipients at once.

The more people who receive it, the more potential victims they entrap in their scam.

Step 5: Gather Data Entered by Victims

When recipients open the email attachment, it either:

• Installs spyware that logs keystrokes to steal login credentials
• Opens a fake BofA form asking for personal/account details
• Redirects them to a phishing site to enter info

Either way, unsuspecting users end up handing their sensitive information directly to scammers.

What to Do If You Get a Fake Bank of America Verification Email

If you receive an email claiming to be from BofA requesting account verification, here are the steps to take:

Check the Email Address of the Sender

Don’t go by the displayed sender name. Go into the email header and look at the actual address it was sent from.

Legitimate BofA emails will only come from addresses ending in @bankofamerica.com or @bofa.com. Anything else is an immediate red flag of a scam.

Do Not Open Attachments or Click Links

Whether it’s an attachment or embedded link, opening anything in a suspicious email risks infecting your device or entering your information on a phishing site.

Delete the email immediately without opening the contents. Then empty your Trash folder completely.

Contact Bank of America to Notify Them

Forward the scam email in its original form to phish@bankofamerica.com. This allows BofA to monitor emerging scams impersonating their alerts.

You can also call 800-432-1000 to notify them and have any account alerts or unusual activity investigated just in case.

Scan Your Device for Malware

If there’s any chance you downloaded an attachment from the email already, run a full system scan using Malwarebytes.

Also check for signs like sudden sluggish performance that may indicate malware infection from the fake verification document.

Monitor Accounts Closely for Suspicious Activity

Carefully review all account statements and transactions over the following weeks for any activity you don’t recognize. Verification emails are frequently a precursor to account infiltration attempts.

Enable transaction notifications as well to stay on top of all account activity in real time. Report any fraud to Bank of America immediately.

Reset Passwords on All Accounts

If you entered any account information into the phishing email content, change your passwords, PINs and security questions immediately.

Make the new passwords completely different and highly complex. Enable two-factor authentication for an extra layer of security.

Watch for Signs of Identity Theft

Keep an eye out for any suspicious communication referencing your SSN, new accounts or credit cards opened in your name, and other indicators your identity was compromised.

Check your credit reports regularly and place credit freezes if needed to protect your data.

How to Spot Fake Bank of America Verification Emails

Armed with inside knowledge of how scammers operate, you can spot their tricks in fake verification emails:

Grammatical or Spelling Errors

Legitimate companies proofread official emails. Scam emails often contain typos, awkward phrasing, or formatting issues.

Requests for Sensitive Personal Information

BofA would never ask for your full SSN, account logins, or other private data over email. Requests for such info are a red flag.

Threatening Account Suspension or Closure

Real BofA emails don’t threaten account access. Scams use fear of losing access to panic recipients into acting hastily.

Attachments from Unknown Senders

Think twice before downloading any attachments from unsolicited or unverified emails, no matter how official they look.

Email Address Spoofing

Even if the sender name says Bank of America, the actual email address is from somewhere else when spoofed.

Requests to Download Software

BofA will never tell you to download software from an email. Attachments with .exe or .zip files are signs of malware.

Staying vigilant against these types of scam indicators will help you avoid compromising your sensitive personal and financial data.

Preventing Future Fake Bank of America Emails

Once you have a handle on spotting and dealing with fake BofA emails, you can apply some best practices to avoid future threats:

• Use a spam call blocker and software that detects and quarantines scam emails before they reach your inbox.
• Never send sensitive information over email period. Legitimate companies will securely message you within their official apps.
• Hover over links to see the actual URL before clicking, which reveals mismatched or suspicious destinations.
• Keep software patched, updated and running real-time antivirus scans to block malware.
• Only communicate with Bank of America through known, verified channels like their official website or app.
• Set up paperless banking statements to avoid sensitive mail interception.

Staying proactive is key to avoiding the endless schemes scammers dream up to pilfer people’s personal data through emails.

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.

Frequently Asked Questions About Fake BofA Verification Emails

How can I tell if a BofA account verification email is fake?

Check that the sender email address ends in @bankofamerica.com or @bofa.com. Any other address is a sign of spoofing. Legit emails won’t have typos, threats, or attachments.

What should I do if I clicked the link or attachment in the email?

Contact BofA to block potential fraudulent account access. Run antivirus scans to remove any malware. Monitor your credit and accounts closely for suspicious activity.

Is it possible my account or information was compromised?

Possibly, if you entered account details on a phishing site or downloaded malware. Change all passwords immediately and enable fraud alerts and two-factor authentication.

What information do scammers want from the fake verification emails?

They want account logins, SSNs, IDs, or anything else they can use to infiltrate accounts or commit identity theft. Legitimate BofA emails will never ask for sensitive data.

Can I stop getting these fake Bank of America emails?

While difficult to stop completely, using spam filters and being cautious about opening emails can reduce them. Never reply or engage as it confirms your email is active.

What other types of fake emails could Bank of America send?

Watch for additional phishing attempts mentioning account verification, temporary account suspension, required account updates, unauthorized logins, and other urgent matters.

If my account seems fine, do I need to do anything after getting the email?

Still contact BofA to alert them of the scam. Monitor your accounts closely for a few weeks for even delayed signs of unauthorized access.

Who can I contact about these fake Bank of America emails?

Forward any suspicious emails to BofA at phish@bankofamerica.com. You can also report scam emails using the Report Phishing feature in your email provider.

Is it possible my device is infected with malware from the email?

Yes, if you downloaded and opened an attachment. Run a full system antivirus scan immediately. Look for signs of malware like sudden performance issues.

Conclusion

Fraudsters rely on convincing victims to take immediate action to avoid account suspension or closure in order to slip by security defenses. But any real bank would never operate this way.

Now that this scam has been completely dissected and exposed, you have the insight to recognize fake Bank of America verification emails on sight and handle them appropriately.

Trust your instincts if an email just doesn’t look right or makes requests that set off alarm bells. Stop and independently verify through official channels anytime you receive alarming demands out of the blue regarding your accounts or data.

With increased awareness and vigilance, we can reduce the power these phishing scams have to illegally capture people’s personal information and identities. Share this knowledge with family and friends to help spread awareness on how to take down these scammers.