Have you been getting more scam or spam texts on your phone? I would get the occasional “your car warranty has expired” robocall but not many texts.
Those times are over.
A text alert came through on my phone saying that my Truist account had been locked and was under review. I was directed to verify my activity by visiting an ‘https://etc’ site. I had never heard of Truist. What does it mean to have a Truist account? What can I do with my Truist account? Can I buy shoes? Do they sell food or books? Can I sign up for rewards? Does it have to do with money? Bingo!
For those of us who didn’t know, Truist was formed after the completion of the BB & T and Sun Trust merger earlier this year. This makes Truist the 6th largest bank in the United States according to a May report on Verified.org. That’s pretty big.
If any of you have gone through a corporate name change, you know what it means to have to roll out what is essentially a new product. It’s a large endeavor. This becomes the Moment of Opportunity for scammers. Consumers who are adjusting to the changes become a new pool of potential scammees. And, in the case of Truist, a HUGE pool of potential scammees.
These people may have been customers of the former entities or not. Does one of your credit cards go through a Truist institution? Could you be a Truist customer based on the merger? A lot of consumers may not be sure of their ‘customer status’. Scammers hope you don’t know.
The scammers count on the consumer being under-informed and also being protective of their money. (Yes, even though they’re being scammed. Kind of ironic, isn’t it?) Consumers are contacted and asked to ‘verify’ account numbers, addresses, and other personal information. You don’t want to do this! Keep in mind that this information can be used to steal your identity, open accounts, authorize purchases, and more.
Pay attention when your financial institution is going through a corporate change. Look at the new logo so it’s familiar to you. Where is there corporate headquarters? Who is your local ‘go-to’ person? Read about the changes that will be enacted.
Do not respond to a “cold” email or text that identifies as your new financial institution. Do not click on the link, and do not give personal information. Get out those notification of change papers (you’ve been sent information as an account holder) with a phone number directly linked to the new entity, and call if you have questions. Don’t use the phone number on the text or email
It’s getting more challenging as companies absorb other companies, and names (company and staff) that were familiar are eliminated. Businesses keep getting bigger and more distant. We have to be proactive.
Stay safe.
