An account takeover begins with a fraudster sending a text message to your mobile phone. They usually claim they’re from a financial institution’s fraud department. They ask you to confirm a suspicious payment that was sent from your account — this may not be true and could be part of the fraud.
If this is a fraud attack, the fraudster typically follows up with a phone call and asks for your personal information to “cancel the payment.” NOTE: BankChampaign will NEVER ask for your personal information over the phone.
The account takeover fraud usually begins on a Friday, after business hours, and runs through the weekend.
The phone shows an example of a fraudulent “account takeover” text message.