M&T Bank is warning about a phone scam that purports to represent the bank and tries to get access to the recipients’ secure information – and their money.
The robocalls are randomly generated, since people with and without M&T accounts have reported receiving them, in Buffalo and other regions. The calls claim that a temporary hold may have been placed on an account and directs the recipients to call a number – which is not an M&T phone number – to verify their information.
“These fraudulent phone calls claim to represent M&T Bank, and ask the recipient to provide personal information such as card number, PIN and expiration date,” the bank said. The scammers are then using that information to make illegal cash withdrawals at ATMs.
“It’s important that our customers understand that we do not call and ask them to provide their card number, PIN and expiration date,” M&T Bank said. “Any such request is fraudulent, and people should immediately hang up the phone and not provide such information.”
M&T declined to share details of how many of its customers have been affected or how much money has been reported lost to the fraud.
Customers wondering about the legitimacy of a call they receive from someone claiming to represent M&T, or if they believe they have been victimized by fraud, should contact M&T at (800) 724-2440. The bank said it is working with law enforcement to combat the scam.
Experts say in any case of suspected fraud, a customer should look up an authentic number for the business they are instructed to call, rather than relying on the number provided on a recording. The Federal Trade Commission’s website – consumer.ftc.gov – offers advice on dealing with robocalls, as well as online forms for filing complaints and signing up for the national Do Not Call Registry.