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Banks warning customers of increased frequency of extortion scams

Hackers will text victims mimicking bank employees, trying to gain access to financial information.

AUSTIN, Texas — Central Texas-based Randolph-Brooks Federal Credit Union (RBFCU) is warning customers of an increased frequency of extortion scams.

RBFCU reported that in May and June alone, there was a 230% increase in reported phishing texts compared to the previous six months.

The scam will typically consist of hackers posing as bank officers, texting victims in an attempt to gain valuable financial information.

According to the Federal Trade Commission (FTC), scams like these have become 20 times more common than they were as recently as 2019.

People who receive these messages should not respond and should instead contact their bank directly and report the situation.

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