It is no news that fake bank alert is the current mode of defrauding merchants or a perfect make-believe for individuals. Victims of this type of scam are usually swindled by a bank alert notifying them of a received payment for goods and services or money.
Anyone can be a victim of this type of scam since most people often rely on SMS notifications from their banks to ascertain if they’ve received the money. Meanwhile, most scammers only require a text message app and a well-structured alert message that’s convincing enough to make you believe you have received the money.
John a salesperson who specializes in selling beverages was recently swindled $580 for payment of goods sold. He assumed the buyer was legit since he dressed extravagantly while looking responsible, little did he know that people can not be trusted irrespective of how they appear.
There has been an increase of fraudulent cases reported that are related to fake bank alerts yearly since most businesses have adopted the cashless mode of payments for security purposes. This has been the benchmark for fraudsters to develop more methods of swindling people of their hard-earned money.
This publication is geared at exploring methods that you can use to detect fake bank alerts and how to avoid them completely.
Apps That Send Fake Bank Alerts
There are different apps used to send fake bank alerts to victims’ phone numbers in other to make them believe money has been deposited into their account, meanwhile the money cannot be viewed on the bank account statement.
You can learn the various apps used to commit such fraudulent acts, but this should only be used for educational & awareness purposes. For example, you can educate people around you to look out for these apps on their friends and families in other to report them to law enforcement agents before they commit more harm in society.
The following apps allow people to send fake alerts to their victim’s phone numbers;
- Money Prank Pro
- Millionaire Fake Bank
- Flash fund
- Fake alert maker
- Lofty sms.
Detecting Fake Bank Alert And How To Avoid It
Since the adoption of cashless transactions by merchants, some scammers have taken advantage of people’s intelligence by sending them a make-believe SMS message that notifies them of money received.
Scammers who want to play a fast one on you will always choose to pay via mobile transfer instead of paying with cash or their bank cards. However, the first red flag to look out for is when the sender asks for your phone number.
A person may work in your store and opt for the mobile transfer mode of payment. He may then come up with different reasons why he needs your phone number to send you money. Do note that you are obligated to only give out your bank account number, and not your phone number whenever you want to receive money.
Scammers who have access to the phone number linked to your bank account can use it to trick you with a fake bank alert. You may choose to supply the sender with a number that’s not in any way linked to your bank account.
For example, Joshua received a customer in his store who opted for the mobile transfer mode of payments and further requested his phone number. Joshua then proceeded to give him a number that was not in any way connected to his bank account. As crazy as it may sound, imagine the possibility of receiving a credit alert from a phone number that’s not in any way connected to your bank account.
If you happen to experience something like this, you should make your customer comfortable while you place a call to the police for help. Meanwhile, you can try other methods of keeping the person occupied until the police get there.
It’s also important that the world is constantly evolving, and some Fintech companies now allow people to send or receive money with just their phone number or email address. If you are presented with this mode of payment option, ensure you check your mobile bank app for confirmation, or at least try purchasing something online to see if the balance adds up to your account balance.
Alternatively, you can reject any mode of payment that involves giving out your phone number, and claim it is against management policies. Ensure you try convincing the person to try other modes of payment in other to event fraud.
How To Prevent Fake Bank Alert Scam
You can avoid being shocked and confused by learning four ((4) methods of preventing fake bank alert scams in 2023
1. Always check your email address
Always check your email address to confirm the money received. In other to make this work, ensure you have previously created and linked an active email address to your bank account
2. Compare your previous and current balances
You may opt to check if your previous account balance adds up with your current balance. That means if you previously had $500, and someone sends you an extra $200, you ought to have $750 as your account balance, and nothing lesser than that
3. Keep some certain bank account details safe
Ensure you don’t share your bank information with anyone aside from your account number, account name, and bank name
4. Use your Bank App or USSD Service
You can always use your mobile bank app or USSD service to request your bank account statement in other to confirm the bank alert received.
In conclusion, fake bank alerts are well structured message from apps designed to appear realistic.You can detect fake bank alerts in 2023 by confirming your bank account balance or statement, checking your email address for a valid confirmation.
