These are the 4 banking scams that could target you. How to protect yourself

Although there are many benefits to having money in a banking account, the biggest reason people save their money is because they know it will be easier to access their money when they need it. added security this provides. Scammers may use clever methods to gain access to your bank account information and to request money from your secure accounts.

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Here’s a look at some of the most common banking scams — plus, how you can avoid becoming a victim.

Phishing Scams

Phishing is a form of fraud that targets consumers through sending them emails or texts that look like they are from their bank. Many times, these messages ask you to click a link or to enter your personal financial information. The scammer will then be able to access your accounts.

Emails can often be identified as fraudulent by looking at their sender addresses. You can tell if it comes from Gmail, Hotmail or Yahoo accounts or contains a lot of letters or numbers, it is probably not your bank.

However, if you receive a text or email that appears to be from your bank but you’re unsure of its legitimacy, it’s best to double-check by contacting your bank directly.

“Locate a number for the business that you know is legitimate, such as the number on the back of your credit card, to determine if they’re the ones reaching out to you,” said Chip Kohlweiler, senior vice president of security at Navy Federal Credit Union.

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Do not click on suspicious links in emails or text messages. Also, do not give out any sensitive information.

“Some financial institutions, including Navy Federal, do use text messages to verify suspicious purchases. However, those texts will never request personal information,” Kohlweiler said. “Check with your financial institution to see if it offers SMS text banking or mobile alerts — that way you can identify the difference between a real message and a scam.”

‘Vishing’ Scams

Scammers can also contact you by phone, in addition to emailing and texting.

“With vishing, fraudsters will call from unknown numbers impersonating a business or financial institution to trick you into picking up and believing the call is real,” Kohlweiler said. “From there, scammers will pressure victims into providing personal, account and financial information such as card numbers, passcodes, codewords and account summaries.”

To avoid falling victim to vishing scams, never answer a call from someone whose number you don’t know.

“Remember, if you don’t answer and they really need you, they’ll be able to leave a voice message,” Kohlweiler said. “If you do pick up, make sure you’re not sharing any sensitive information over the phone that the business should theoretically have themselves. If the call does not seem legitimate, hang up and call the number on the back of your card or account statement to speak to a representative.”

ATM Skimming

Scammers attach devices to ATMs in an ATM skimming scheme. These devices capture your card information as well as your PIN when you use the ATM.

“To avoid falling victim to an ATM skimming scam, it’s important to be cautious when using ATMs, especially if you notice any unusual or suspicious devices attached to the machine,” said Dennis Shirshikov, adjunct professor of finance and economics at the City University of New York and strategist at Awning.com. “You should also cover the keypad with your hand when entering your PIN to protect it from being captured by hidden cameras or other devices.”

Overpayment scams

If you own a small business or sell products online, you might encounter this scam. With these scams, a “customer” will “accidentally” send you a check for more than the agreed-upon price, and ask you to send them a check or Venmo payment back for the difference.

“In this scam, the buyer’s check is fake, and by the time you realize it, you’ve already sent the overpayment to the scammer,” said John Wilson, senior fellow of threat research at AgariProvider of email security.

Be wary if you receive an overpayment — more often than not, this is a sign of a scam.

“No normal person is going to send more for an item than the agreed-upon price,” Wilson said.

More Information from GOBankingRates

This article was originally published on GOBankingRates.com: How To Protect Yourself From These 4 Banking Scams That May Target You