A new scam parading as TD Bank is tricking users into handing over their life savings.
Cybercriminals are sending text messages with an image of the bank’s logo, along with a message that claims a large charge is pending in the customer’s account and a link to click if they did not initiate it.
DailyMail.com received one of the messages that reads: ‘TD Alert. There’s a pending charge of $1,298.99 on your account, ignore if you initiated, if not follow https://www.dailymail.co.uk/sciencetech/article-14474399/TD-Bank-scam-text-message-savings.html?ns_mchannel=rss&ns_campaign=1490&ito=1490.’
The link appeared legitimate, validtddmobile.com, which took the user to a website that looks like TD’s mobile site and prompted them to put in their credentials.
However, DailyMail.com does not have an account with the US-based bank.
Other people have received messages that said a strange bill was paid from their account, while others were told they owed TD Bank money.
Martha Gaston, senior communications manager at TD Bank, told DailyMail.com: We are aware that bad actors have created a scam and recommend consumers stay vigilant. Consumers can take several steps to protect themselves from fraud.
‘The American Banking Association recommends that individuals avoid sharing sensitive information and never provide your Social Security number, account numbers or passwords to anyone who contacts you online, via text message or over the phone.’
DailyMail.com obtained one of the messages that reads: ‘TD Alert. There’s a pending charge of $1,298.99 on your account, ignore if you initiated, if not follow https://www.dailymail.co.uk/sciencetech/article-14474399/TD-Bank-scam-text-message-savings.html?ns_mchannel=rss&ns_campaign=1490&ito=1490’
This type of scam is known as SMShing, which is essentially phishing via text.
Phishing, which involves an email, uses the name and logo of a legitimate company, asking you to click a link and provide account details that are then used to commit fraud.
‘Creating fear or a sense of urgency is a common tactic for many scams,’ TD Bank shared.
The bank also warned Americans to never share their passwords and PINS, even with them.
The link in the malicious text message takes users to a mobile website claiming to be TD Bank, asking to provide their user name and password.
The site also features ‘Forgot user name and/or password,’ ‘Sign up for Online Banking’ and ‘View the Online Banking demo,’ which are all on TD Bank’s official site.
However, potential victims should look at the top of the site. TD Bank’s shows, ‘FDIC-Insured – Backed by the full faith and credit of the U.S. Government,’ while the fake one does not.
Once users enter their credentials in the fraudulent email, hackers have full access to their accounts and money.
The link in the malicious text message takes users to a mobile website claiming to be TD Bank, asking to provide their user name and password
They then transfer its entire balances to criminal accounts where it cannot be recovered.
TD Bank urges customers who fall victim to the scam to lock all credit and debit cards immediately and alert the company about the scam.
Bank scams have skyrocketed in recent years, with a new report showing one in three US adults (34 percent) have experienced financial fraud or a scam since January 2024, Bankrate, a consumer financial services based in New York City.
The firm’s Financial Fraud Survey, published March 5, shows that nearly two in five Americans (37 percent) lost money to such scams in the last year.
Sarah Foster, Bankrate economic analyst, said: ‘Financial scams today come in all shapes and sizes, advancing far beyond the typo-ridden text messages that so obviously look to be from a scammer.’
The survey found 37 percent of Americans who experienced financial fraud or a scam in the past 12 months said they lost money, including those who say someone took their funds after accessing their personal or financial information (19 percent) and those who sent funds to a scammer or paid for a phony service (23 percent).
‘If you suspect that someone has used your information falsely or that you’ve paid for a phony service, don’t panic,’ Foster advised.
‘The best steps toward reversing any monetary damage are having all parties aligned on the same goal and using every resource available to you.’
