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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I remember hearing that a friend had an attempted bank account take-over in which somebody managed to call the bank and use social engineering to get enough answers to the verification questions that they were able to update the contact info. My friend noticed the email the bank sent stating that the primary phone number had been changed and was able to get it changed back. In that situation, I think they managed to add some fake payees for their people payment system, but I could maybe see setting up a fake account at another institution to do an online banking external transfer?
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