So, I just received an email and text message that I had opened a savings account with a major bank I have never previously used. I didn’t open any links on the texts or email. I went to the major bank’s website directly from Google and called their fraud department. They confirmed there was an account under my name and closed it. I am filing a fraud report with the credit bureaus. I always have my credit frozen.
What is the scam here? What could some one do with a savings account linked to both my email and number?
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Besides some of the reasonable explanations mentioned, another reason they’ll sometimes do it is if they’re also stealing credit in your name (fraudulent credit card or line of credit). Opening a bank account with the address they’re using might let them “prove” that address to the creditor if they’re flagged for fraud there, via either account documents like statements, or the info now appearing associated with you.
While bank accounts may not go to credit bureau reporting, some of the info may end up sold to other data aggregators that financial corporations use to verify info to fight fraud.
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