Scammers will initially cast their nets wide, sending thousands of fake text messages seemingly from legitimate companies. But for some, that’s just the start of the con, as we found victims can often suffer a secondary hit from the same criminals.
This one-two jab can be highly effective for fraudsters. They use the initial bogus text to establish trust, and at times, even the caller ID has been spoofed to make it look like your bank's genuine phone number. Read more about this type of scam.