AG Nessel Warns of Bank, Credit Union Imposter Scams
Today, Michigan Attorney General Dana Nessel reissued her consumer alert on imposter scams following reports of scammers impersonating banks or credit unions to steal financial and personal information. The fraudsters have reportedly used spoofing technology to make the caller ID appear to be from a legitimate source. They then may falsely claim there is an issue with a consumer’s account, such as unauthorized transactions or overdrafts, and offer to resolve it. During these calls, the scammer asks for account credentials or personal information, which they can use to access and drain accounts.
“Bad actors rely on urgency and spoofing technology to trick Michigan consumers into giving up access to their hard-earned money,” said Attorney General Nessel. “If you receive an unexpected call claiming there is a problem with your account, hang up immediately and contact your bank or credit union directly. If you believe you’ve been a victim of one of these scams, my office is here to help.”
Consumers can protect themselves from imposter scams by:
- Not sharing any personal information with an unsolicited caller. Only share details with organizations you have contacted directly.
- Verifying the caller’s identity. If contacted about an urgent account issue, immediately hang up and call your financial institution using a trusted number.
- Never transferring or sending money, cryptocurrency, or gold to someone you don’t know in response to an unexpected call or message.
“Credit unions work diligently to provide alerts and educational resources to help members recognize and avoid fraud,” said Patty Corkery, President/CEO of the Michigan Credit Union League. “One of the most important reminders is to never share passwords or PINs with anyone, even if the request appears to come from the credit union. Bank and credit union imposter scams are becoming increasingly common and sophisticated, and unfortunately, older Michiganders are often the primary targets. We encourage everyone to take advantage of the educational resources available through the state, local credit unions and TryACreditUnion.com to stay informed and protect against fraud.”
In addition to the Department of Attorney General, the Department of Insurance and Financial Services (DIFS) Fraud Investigation Unit (FIU) investigates criminal and fraudulent activity related to the insurance and financial markets, and DIFS works with the Attorney General and other state, county, and local law enforcement to investigate these cases and refer them for prosecution.
“Imposter scams continue to pose a serious threat to Michiganders, especially when fraudsters pretend to be trusted banks or credit unions in an attempt to steal personal and financial information,” said DIFS Director Anita Fox. “Legitimate financial institutions will never pressure you to share information by phone, text, or email. Your best defense is simple: never share any information with anyone who contacts you. If something feels off, stop and verify it directly with your financial institution.”
In addition to the work done by the FIU, DIFS also offers a variety of resources to help fight fraud, including the DIFS website, publications, videos, and the DIFS Locator, which enables consumers to verify that they are working with properly licensed individuals and businesses in the insurance and financial services industries.
Michiganders should report any suspicious activity related to insurance and financial services either online or by calling DIFS at 877-999-6442, Monday through Friday from 8 a.m. to 5 p.m.
If you have a general consumer complaint, you may file a complaint with the Attorney General's Consumer Protection Team at:
Consumer Protection Team
P.O. Box 30213
Lansing, MI 48909
517-335-7599
Fax: 517-241-3771
Toll-free: 877-765-8388
Online complaint form
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