It seems like bad guys are becoming more and more sophisticated in their attempts to steal money and information. One common scam circulating in recent months is a text message scam. People are receiving a text message that says something like: "Your debit card has been restricted, call 1-XXX-XXX-XXXX for assistance." The phone number may vary. When the number is called, a recording requests your 16 digit debit card number. This is NOT a legitimate text message. This is a phishing attempt. When in doubt, always call your financial institution directly at the number you have for them, or call the number appearing on the back of your card.
Phishing is luring someone into providing personal/financial information to a scammer posing as a legitimate business. The scam involves a convincing message that would directly affect the reader. The message comes with a "bait" action of what-to-do to help resolve the issue. The success of these scams depend on the reader's initial response to the message and what their next step is, which is typically motivated by fear, uncertainty, and/or doubt. Phishing scams can be conducted through a variety of ways including email, phone call, text messages and even social media.
Always remember that your financial institution should never solicit your personal information via email, phone call, text messages or social media.