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Fraud Is Changing: What Every FreedomBank Customer Needs to Know

Fraud is Changing: What Every Customer Needs to Know

Scammers are using caller ID spoofing, artificial intelligence (AI), and social engineering to make calls, texts, voice cloning, and emails appear more legitimate.

At FreedomBank, protecting our customers is one of our highest priorities. If you receive an unexpected message about your debit card or bank account, slow down and contact FreedomBank or SHAZAM using a trusted phone number before sharing information or taking action.

A New Twist on an Old Scam
One of the fastest-growing scams involves criminals pretending to be your bank, a debit card fraud department, or SHAZAM, the company that helps monitor FreedomBank debit card transactions for potential fraud.

A scam may begin with an unexpected call or text claiming there is suspicious activity on your account. The caller may already know some information about you, making the interaction seem legitimate, and may ask you to share information, approve a transaction, or take immediate action.

These scams are designed to create urgency so you'll act before taking time to verify who you're talking to.

How SHAZAM Handles Fraud Alerts
If SHAZAM detects potential fraud on your FreedomBank debit card, here's what you can expect.

Typically, SHAZAM will:

Send a fraud alert text message first (if you've enrolled to receive fraud alerts).
If no response is received, SHAZAM will place an automated phone call.
Ask you to verify whether a specific transaction is legitimate.
Ask questions about recent account activity, such as recent transactions, deposits, or ATM withdrawals.

SHAZAM will never ask for:

Your online banking password, Social Security number, PIN, full debit card number, CVV, debit card expiration date, or a verification code sent to your phone.
To move money to another account.
To purchase gift cards, cryptocurrency, precious metals, or send cash.

If anyone requests this information while claiming to represent SHAZAM or FreedomBank, end the call immediately. So how do scammers make these fake calls seem legitimate?

What is Spoofing?
Spoofing allows scammers to make a phone call, text message, or email appear as though it is coming from SHAZAM, FreedomBank, or another trusted source.

Just because your phone displays "FreedomBank" or "SHAZAM" doesn't mean the call is legitimate.

If something doesn't feel right, hang up and contact your local FreedomBank location or call the number on the back of your debit card.

What is Vishing?
Vishing, short for voice phishing, is a phone scam where criminals pretend to be someone you trust.

A fraudster may pretend to be from your bank, SHAZAM, law enforcement, the IRS, or another organization to convince you to share sensitive information, approve fraudulent transactions, or send money.

Legitimate organizations will never pressure you to make immediate financial decisions. If you feel rushed or threatened, end the conversation and verify the request using a trusted phone number.

AI is Making Scams More Convincing
Some criminals are using AI to clone a person's voice after recording only a short conversation. Combined with caller ID spoofing, scammers can make a call appear and sound surprisingly legitimate.

That's why it's more important than ever to verify who you're talking to before sharing information.

Why FreedomBank May Ask Different Questions
Because scammers may already know personal information about you, FreedomBank may verify your identity using personal questions that only you would know.

Remember the Four U's
If you receive an unexpected call, text, or email, take a moment and ask yourself:

Urgency: Are they telling me I need to act immediately?
Unexpected: Was I expecting this message or phone call?
Unnerving: Are they trying to scare me or create panic?
Under no circumstance: Never share your password, PIN, Social Security number, full debit card number, or online banking credentials.

If any of these warning signs are present, stop and verify before taking action.

If You Think It's a Scam

Stop the conversation — hang up the phone.
Don't click links or respond to suspicious messages.
Don't share personal or financial information.
Contact FreedomBank using a trusted phone number.
Monitor your accounts and report suspicious activity immediately.

We're Here to Help
Fraud continues to evolve, but so do the tools and safeguards designed to protect you. If something does not seem right, contact your local FreedomBank location before responding.

We'd much rather answer your questions today than help you recover from fraud tomorrow.

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