December 12, 2023

Watch out for these Bank of America scams

Watch out for these Bank of America scams

The first half of 2023 saw phone scammers cause $46 billion in American consumer losses. That’s $7 billion more than in 2022, projecting another increase in annual losses to phone scams. Bank scams, like the Bank of America scams, are among the most spreading scams with nearly 364 million bank-related robotexts being sent in 2023. Bank scammers can be sophisticated and convincing, and they often strike before you realize you’re in trouble.

Scammers disguise themselves as companies you know and trust, and just one successful scam can lead to financial loss, identity theft, and psychological trauma. Read on to learn about Bank of America scams and how to protect yourself from severe and lasting financial consequences.

Bank of America scams: How do they work?

Bank of America scams are a specific type of bank scam that aims to steal confidential information by soliciting you in a fake problem or situation With the right personal and financial details, scammers can empty your bank account, open new lines of credit in your name, and steal your identity.

Scammers use a variety of techniques to appear legitimate and get away with your valuable data, including:

  • Caller ID spoofing: Scammers can manipulate caller ID to display any phone number they want, making it seem like the call is coming from Bank of America. If you suspect you’ve received a spoof call like this, call the bank at the number on the back of your card.
  • Social engineering: Fraudsters get the sensitive information they want by deceiving and manipulating their targets. They disguise themselves as trusted businesses like Bank of America and create an urgent (but fictitious) situation to get potential victims to take action quickly and without considering the potential consequences.
  • Malicious links: Scam texts and emails typically encourage you to follow a suspicious link to supposedly reset your password, secure your account, or address whatever the alleged problem is. The fake site you’re sent to may look like Bank of America’s official website, but it’s a facade
  • In some cases, simply by clicking the link, malware will upload to your laptop or mobile device and gives scammers access to your data.

Types of Bank of America scams

Bank of America scams tend to come in one of several forms, and some can be done using any of the primary three: phone calls, text messages, and emails. Regardless of the method used, Bank of America scams generally revolve around one of the following fake premises:

  • Account suspension: Your account has been frozen or suspended, possibly due to suspicious activity or potential fraud. Click the link to verify your information and restore your account.
  • Fraud warnings: Fraudulent activity was detected in your account. Transfer your money to a safe account to protect it from scammers.
  • Payment verification: A payment of $XX.XX was made. If it wasn’t you, respond to dispute the charge and secure your account.
  • Transfer notification: Money was transferred between accounts or through a payment app like Venmo. Respond or click the link for additional information.

Like the main goal of phone scams — to siphon information that can be used to steal money and identities — the premises are generally the same. However, the method of delivery may affect how the scam attempt plays out.

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Bank of America scam texts

Bank of America scam texts (or smishing schemes) are fraudulent text messages disguised as legitimate notices and correspondences. They typically direct you to click a link in order to address some kind of issue, like verifying a payment or responding to a potential fraud alert. However, the link is actually just a mechanism for stealing information.

For example, you may get a text message that appears to be a payment verification alert from Bank of America notifying you of a bogus transaction. The scammer instructs you to follow the link if you didn’t authorize the transaction (which, of course, you didn’t). The link brings you to a spoofed (fake) website that asks for contact information, account details, and other private data under the pretense that it’s necessary in order to cancel the fake charge.

Don’t trust unexpected texts that claim to be from Bank of America, especially if you haven’t signed up for mobile alerts. Bank of America sends texts from publicly listed shortcodes, so any texts from a 10-digit phone number claiming to be them are scams.

Bank of America scam calls

Although scam texts have become more popular, scam calls are still dangerous. Scammers claiming to represent Bank of America may call you or send you a voicemail instructing you to call them back at a number that leads to them.

A scam call might claim your Bank of America account has been compromised and encourage you to transfer your money to a secure account. In reality, you would be transferring your money directly to the scammer. Never transfer your money to a different account because you were instructed to do so via call or text. Bank of America will never ask you to do this.

If you get a voicemail claiming to be from Bank of America, don’t call the number left in the message or the number that called you. Instead, call Bank of America at the number on the back of your card or an official number listed online. Hang up on calls that ask for personal information, and use Robokiller’s phone number lookup tool to check suspicious calls against our database.

Bank of America scam emails

Bank of America scam emails (and phishing emails in general) work much like their smishing counterparts. They, too, tend to use links to trick customers into revealing sensitive account information that can be used against them. Unlike scam texts, however, fraudulent emails can convincingly mimic Bank of America in branding and design — much like the spoofed website hiding behind the link.

A Bank of America scam email may notify you of a fake hold on your account due to fraudulent activity, prompting you to click a link to verify your account number and reset your password. If you do, the link downloads malware onto your device or sends you to a fake website that asks for private information. Any details you enter will be sent to the scammer and may be used to steal money or additional data.

All legitimate Bank of America emails come from addresses ending in If you get an email from a different address claiming to be Bank of America, report and delete it.

Other popular disguises for bank scammers

Bank of America text scams and fraudulent calls can be dangerous, and scammers may do a convincing job of disguising themselves as the real bank. Unfortunately, Bank of America is just one of many trusted financial institutions that scammers use as a cover for their ploys.

Be wary of unexpected texts that claim to be from legitimate companies like:

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How to spot Bank of America scams

Follow the tips below to spot the red flags of Bank of America scams before they get too close for comfort.

  • Verify the caller/sender. Banks typically don’t call clients out of the blue, and they generally only send text messages to those who sign up for mobile notifications. If you get a suspicious call or text that claims to be from Bank of America, call the number on the back of your card.
  • Watch out for unsolicited requests for personal information. Bank of America will not ask for personal details like Social Security numbers, login credentials, or financial information. Scammers, on the other hand, seek this information so they can use it to hack into your bank accounts and steal your identity.
  • Beware of urgency and threats. Scammers want you to act before you realize you’re being tricked, so they try to create a sense of urgency. They may threaten to close your account if you don’t respond promptly. Bank of America won’t push you to act quickly or threaten to close your account via call or text.
  • Check for consistency and communication style. Legitimate Bank of America communications uphold the standards you’d expect from a well-known bank. Text messages won’t contain spelling errors, poor grammar, or suspicious links, and Bank of America employees will never be pushy or unprofessional on the phone.

Steps to take if you're a victim

If you’ve received a Bank of America scam call or text and you clicked a link or gave away information, it’s critical to know how to react. The sooner you take action, the better your chances of retaining your privacy, money, and identity.

  • Contact Bank of America immediately. Notify Bank of America right away so you can secure your account(s) and attempt to minimize the damage.
    • Call Bank of America’s customer service line at 800-432-1000 if you’ve given away personal or financial information.
    • Forward suspicious emails and text messages to
  • Monitor and/or freeze your accounts. Work with Bank of America to monitor your accounts for possible fraud activity. Freeze accounts and cards that may have been compromised, and regularly check your credit card and bank statements for unauthorized charges.
  • Change your login information. If you act quickly, you may be able to revoke the scammer’s access to your account. Change your login credentials with any other accounts that use the same username, password, and/or email address as well.
  • File a police report. Don’t wait to notify the police about a call or text message scam. This type of phone fraud can lead to financial loss and identity theft, so contact local law enforcement quickly.
  • Notify the authorities. Alerting the appropriate authorities can help protect other people from being targeted by the same scam.

Robokiller's role in scam prevention

Bank of America scams can threaten your identity and your family’s financial security, so it’s vital to protect yourself from all angles. Robokiller is a scam-protection app that virtually eliminates risky scam texts and relentless spam calls.

Robokiller’s critical scam-blocking features have led to an extensive resume that includes:

  • $600+ million in prevented losses to phone scams
  • 1.5+ billion phone numbers in our global database
  • 99% effective, real-time blocking of dangerous phone fraud like scam calls and spam texts
  • Customizable block and allow lists
  • Robust scam-blocking algorithm that uses machine learning and artificial intelligence (AI)

Protect your family and restore your peace of mind with top-tier protection from spam and scams. Say goodbye to Bank of America scams and other types of phone fraud when you start your free 7-day Robokiller trial.

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