Avoid This Caller ID Scam

Identity theft comes in many forms, but the essence of any identify theft scam is to get your personal, financial information (bank account numbers, credit card numbers, social security number, etc.). Even before “identify theft” became a common term, it was always good financial advice to avoiding giving out your information over the phone. Anyone can call and claim to be from your bank, credit card company, or even a charity.

But then came caller ID. Now you can know for certain if the person on the end of the line is telling the truth, right? Well… not so fast.

Scammers and thieves can easily change the name and number you see on your phone or caller ID box. They can let the caller ID do the convincing for them while they talk trusting consumers into revealing information, for “validation” or (ironically) “security” purposes.

Anyone can easily purchase a fake caller ID name and number. Websites advertise services that can help you “play tricks on your friends” and are “great for private investigators.” Furthermore, they aren’t very expensive so they’re not just for successful investigators or wealthy pranksters.

The old rules stands: never give your personal information to anyone who calls. A real bank representative would understand your hesitation and will provide you an alternative method of relaying information, and they should never pressure you. But scammers are often very good at what they do. Some will even provide portions of your information to you and request you to verify if it is correct.

If you receive a call from anyone requesting your information do not provide it. If they are making an offer you would like to pursue tell them you’ll call back. Do not use the number they provide but the number listed on the company’s website or in the yellow pages, which you can be certain is valid. As a rule, if you’re going to give out your information over the phone, do it only when you’re the one who made the call.