Hacked Credit Reporting Agencies Leading to Rampant Scams That Drain American Bank Accounts, According to Expert: Report
An executive at one US bank reportedly says that the hacks of credit reporting agencies are fueling rampant scams that drain customers’ accounts.
Chris Zampogna, the senior vice president and security officer for Pennsylvania-based Mid Penn Bank, says that people are being fooled by scammers who know who they bank with by using information they obtain from the dark web, reports NBC10 News in Philadelphia.
“Losses are astronomical because they’re wiping people’s accounts out, because you gave them the keys to the castle.”
The scam begins with a call that appears as if it is coming from the victim’s bank.
“They say they’re with– they know the name of your bank. It’s all out there. This information is all out there. All the different credit reporting agencies over the years, many of them have been hacked.”
The scammers then instill fear by telling the victims there’s suspicious activity detected on their accounts.
“And they’ll call and say, ‘Hey, we’re just calling to talk to you about a couple wires that are in your account. We want to verify that you’re sending them, and that you wanted to send them.’ And you panic because you think, ‘I’m not sending a wire.’ And sure enough, they’ll say, ‘Well, let’s help. Let’s look into that to help you.'”
The scammers then convince the victim to tell them their username, password and the Multi-Factor Authentication.
“And once they have that [information] with a couple clicks of a button they can clean you out.”
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Xerox Campus Revitalization in Webster, NY: A Prime Prospect for Industrial Property and Development Investments
- Webster , NY's Xerox campus redevelops 300 acres of brownfield land with $9.8M FAST NY grant, targeting 2025 as a hub for advanced manufacturing and logistics. - Infrastructure upgrades include road realignment, sewer expansion, and electrical modernization to meet demands of semiconductor and food processing industries. - Tax incentives and PPPs attract firms like fairlife® (1M sq ft, 250 jobs) and Ranger Design, leveraging low 2% vacancy vs. national 7.4% average. - EPA-compliant remediation and sustai
AI-Powered Hybrid Staking Approach Connects Web2 and Web3, Enhancing Accessibility
- IntelliQuant's Lumint platform introduces a hybrid node staking model combining AI with blockchain to simplify operations for institutional and retail users. - The model uses account abstraction and gas fee sponsorship to lower entry barriers while integrating Web2/Web3 technologies for familiar user experiences. - An AI-powered investment platform with robo-advisory and crypto trend analysis is in development, supported by OKX partnership for global expansion. - The hybrid-incentive system aims to creat
XRP News Update: Institutional Dominance Drives CoinShares to Adjust Its Crypto Approach
- CoinShares abandoned U.S. XRP/Solana/LTC ETF plans due to a crowded market dominated by institutional giants like BlackRock and Fidelity. - The firm will pivot to high-margin thematic crypto products and active strategies, exiting leveraged Bitcoin futures ETF BTFX . - Institutional dominance in crypto ETFs now exceeds 90% of inflows, with BlackRock's IBIT controlling $70B+ in assets and 3% of Bitcoin's supply. - XRP ETFs saw $179.6M inflows this week, but CoinShares cited "low margins and slow growth" c
Ethereum Updates Today: Fed's QT Conclusion and FUSAKA Enhancement May Drive Ethereum's Upcoming Surge
- Ethereum tests $2,850 support as ETF inflows and FUSAKA upgrade boost institutional confidence. - FUSAKA upgrade introduces PeerDAS, boosting data capacity eightfold and cutting L2 fees by 90%. - Fed’s December QT end and rate cut expectations fuel liquidity and bullish sentiment. - Technical indicators show consolidation near $2,800–$3,080, with potential for $3,550 by mid-2026 if upgrades align with liquidity.
Trending news
MoreCrypto prices
More
