Michigan AG warns of bank impersonation phone scams

Michigan Attorney General Dana Nessel has reissued a consumer alert warning residents about scammers who pose as banks and credit unions to steal personal and financial information.

According to the alert, scammers can use spoofing technology to make a caller ID display the name of a legitimate financial institution. The caller may then claim there is a problem with the consumer's account, such as an unauthorized transaction or an overdraft, and offer to help fix it while asking for account credentials or other personal details.

Department of Insurance and Financial Services Director Anita Fox said legitimate financial institutions will never pressure customers to share information by phone, text or email, and urged residents not to share information with unsolicited callers and to verify concerns directly with their financial institution.

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