The way the scam works is the consumer receives an automated call or text claiming that their credit or debit card has been deactivated or cancelled. The consumer is informed to press 1 to reactivate the card or the consumer is told that the problem is easy to fix by calling a customer service number and confirming some information.
If you press 1, you are ask to enter personal information including your card number. DO NOT!!
If you receive a call, you hear a recorded message that instructs you to enter your card number or call a customer service number. DO NOT!!
Unfortunately, the fraud alert and customer service number are fake, and consumers who follow the instructions are leaving themselves open to credit or debit card fraud.
To avoid becoming a victim, never give your personal information and/or your card number over the phone or by text. Verify the telephone number with your financial institution. Don’t call the number given in the text message or automated service. You can call your bank or locate your customer service number on the back of your card, in order to confirm the status of your card.
Keep in mind that in cases where a financial institution suspects your card has been used fraudulently, you will be instructed to destroy your card. You will not be instructed to reactivate your card. You will not be instructed to reply to an email, text or to open an attachment.
If ever in doubt call you bank.