Fake Mobile App Scams

Since the beginning of the COVID-19 pandemic, the use of mobile banking has been on the rise. Its useful features allow members to do their banking from the comfort of their own home rather than traveling to a branch. However, the Credit Union Times article, “FBI Alert: Lock Down Mobile Banking Apps,” has recently warned the public about fake mobile banking apps.

Scammers create fake mobile banking apps that look identical to a financial institution’s app. But these apps are designed to steal your login and banking information while you think you’re using the real version.  

The FBI announced several precautions to take when downloading a mobile banking app:

• Only download apps from trusted sources, such as official app stores or directly from bank websites.
• Use two-factor or multi-factor authentication, including biometrics or authentication apps.
• Use strong passwords and good password security.
• If a banking app appears suspicious, call the financial institution.

Using these precautions may prevent you from downloading a fraudulent app and save yourself from scammers stealing your information. To safely download American 1’s mobile app, visit our Mobile App page.

Read the full Credit Union Times article here.  

« Return to "American 1 Blog"