"The Wells Fargo Impostor Scam, as it’s being called, contacts people by phone or text and alerts them that their bank account has been frozen because someone has been using it illegally.
Then, it advises customers that if they want to un-freeze their account, they will need to provide their personal banking information.
People who do provide that information soon start to see unauthorized charges multiplying on their account from overseas.
“It's just a very difficult situation. I know people get very frustrated. They want to know what we can do and what we are doing is getting out the word and letting people know to be careful about these things to protect yourself and your personal financial information," explained Tony Green, with the Oregon Dept. of Justice.
Green said the best way a customer can protect themselves against this kind of scam is to hang up the phone and never respond to text messages that ask for personal banking information.
That’s because banks already have that information about each of their customers, so there would be no reason they would need to get it again."