What You Need to Know About M&T Bank Scams

What You Need to Know About M&T Bank Scams

M&T Bank is a regional bank based in Buffalo, New York, that offers a range of financial services, including checking and savings accounts, loans, and credit cards. However, like any financial institution, M&T Bank is not immune to scams and fraud. In this article, we will discuss some of the common M&T Bank scams and how to protect yourself from becoming a victim.

Phishing Scams

Phishing scams are one of the most common types of scams targeting M&T Bank customers. In a phishing scam, fraudsters will send you an email or text message that appears to be from M&T Bank. The message will typically ask you to click on a link or provide personal information, such as your username and password. Once you provide this information, the fraudsters can use it to access your bank account and steal your money.

To protect yourself fromphishing scams, you should never click on links or provide personal information in response to an unsolicited email or text message. Instead, log in to your M&T Bank account directly through the bank's official website or app.

ATM Skimming Scams

ATM skimming scams involve fraudsters attaching card skimming devices to ATMs to steal your debit card information. When you insert your card into the ATM, the skimming device reads your card's magnetic stripe and captures your PIN number with a hidden camera.

To avoid becoming a victim of an ATM skimming scam, you should always inspect the ATM for any signs of tampering before using it. Look for any loose or unusual attachments, such as a card reader that looks different from the rest of the ATM. Additionally, cover the keypad with your hand when entering your PIN number to prevent any hidden cameras from capturing your keystrokes.

Fake Check Scams

Fake check scams involve fraudsters sending you a check that appears to be from M&T Bank or another legitimate source. The check is usually for a large amount of money, and the fraudsters will ask you to deposit the check into your bank account and then wire a portion of the funds back to them. However, the check is fake, and once it bounces, you will be responsible for repaying the full amount to your bank.

To avoid becoming a victim of a fake check scam, you should never accept a check from someone you do not know or trust. Additionally, be wary of any requests to wire money to someone you have never met in person.

Investment Scams

Investment scams target investors looking for high returns on their money. Fraudsters may offer you an investment opportunity that promises high returns with little risk. However, these investments are usually too good to be true and are designed to steal your money.

To avoid becoming a victim of an investment scam, you should always do your research before investing your money. Check the credentials of the person offering the investment and the legitimacy of the investment itself. Additionally, be wary of any investment that promises high returns with little or no risk.

In conclusion, while M&T Bank scams are a reality, there are steps you can take to protect yourself from becoming a victim. By being vigilant and aware of the common scams targeting M&T Bank customers, you can keep your money and personal information safe. Remember to never provide personal information in response to an unsolicited email or text message, inspect ATMs for signs of tampering, be wary of any check or investment offers that sound too good to be true, and do your research before investing your money.