The latest twist on this scam is when a consumer receives a text message which claims it’s from their bank’s fraud department and asks them to confirm if they’ve made suspicious charges or withdrawals by texting back a ‘yes’ or a ‘no’.

After responding NO, the consumer receives a call from the alleged fraud department directing them to log in to their online account to produce the authentication PIN number which is used to reset the account password. 

The caller asks the consumer to provide them with the PIN, which allows them to freeze the account and any suspicious activity. 

Once the caller has this code, they use it to access the account and change the password and start removing money from the account.