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According to an article from AARP, “14 Top Scams to Watch Out for in 2023”, credit reporting company Experian warns consumers that scammers utilize bots, or automated programs, to trick people into sharing the two-factor authentication codes sent to them via text or email from banks, credit unions, or even places such as Amazon or UPS. The bot will make a robocall or send a text that appears to come from a credited institution, asking you to authorize a charge. It will then ask you to enter the authentication code you’ve just been sent if the transaction isn’t yours. But beware – it is actually the bot that’s trying to log into your bank account! Once the swindler is authenticated, they can perform unauthorized transactions from the accounts. Essentially, the scam works like this:

  1. The scammer gives the victim’s information to the automated bot.
  2. The bot then contacts the victim and asks to verify account information – or OTP.
  3. The victim provides the bot with their information.
  4. The bot distracts the victim while the scammer accesses the account instead.
  5. The scammer then steals money and card information from the victim’s account.


How to stay safe: Never share authentication codes, or provide other information, in response to an unsolicited phone call or text!