The Wisconsin Bankers Association (WBA) has issued warning of a possible phone scam targeting consumers.

In this scam, you would receive a call from a recorded voice informing you that your bank account is frozen.  The recorded voice also provides a toll-free number for you to call to reinstate your account by verifying personal information. 

 

WBA believes such a scam could target consumers on the upcoming Fourth of July holiday as banks are closed and you may not have easy access to your accounts for verification purposes.

The number one defense against any scam is an educated, cautious consumer.  When you receive phone calls or emails from agencies claiming to be the bank, you should protect yourself by following these steps:

· Stop. Do not respond immediately.
· Think. Why would the bank need this information?
· Call us on the next business day.

 

No bank or legitimate business will request that you verify your personal information, such as PINs, account numbers or Social Security numbers, over the phone.  Unless you initiate the contact, you should never give out this information.

If you receive a request like this over the phone this coming weekend, make sure you note the name of the caller, the institution they purport to represent, and their contact information.  Then, call us at (800) 795-2151.  The same guidelines and suggestions apply to email requests for personal information.