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DIFS Warns Consumers to Beware Scam Calls Impersonating Banks or Credit Unions

Media Contact: Laura Hall, 517-290-3779,
Consumer Hotline: 877-999-6442,


(LANSING, MICH) The Michigan Department of Insurance and Financial Services (DIFS) is warning consumers about the rising frequency of scams where victims receive spoofed calls or texts from criminals posing as bank or credit union representatives in an attempt to access customer accounts and steal customers’ money and information. In a spoofed call, the caller ID will make it look like the call is coming from the credit union or bank even though it is a scam.

“Spoofed call scams are becoming more sophisticated, and once they have you on the line, the caller will try to use fear and false urgency to pressure you to act immediately, putting you at risk of losing substantial amounts of money and disclosing your personal information,” said DIFS Director Anita Fox. “Remember that your financial institution will never reach out to you requesting your password or other personal information to access your account. When in doubt, hang up with the caller and check with your bank or credit union directly using the phone number from your statement or card.”

In these scams, criminals use “spoofing” to make their calls or texts appear as if they are coming from your financial institution. In the call or text, the scammers may falsely claim that there is an issue with your account, such as unauthorized transactions or overdrafts, and offer to resolve it. They will then ask for account credentials or personal information, which they can use to access and drain your account.

These scams rely on psychological tricks to get you to share sensitive information. Never provide your financial details to unsolicited callers.

Here are some key steps to protect yourself from falling prey to financial scams:

  • Do Not Share Information: Never give out personal or account information to anyone who calls you, even for "verification purposes." Only share such details with organizations you have contacted directly.
  • Verify Caller Identity: If contacted about an urgent account issue, immediately hang up and call your financial institution using a trusted number from your debit/credit card, account statement, or official correspondence. Avoid using numbers provided in unsolicited texts or voicemails.
  • Use Multifactor Authentication: Optimize your account security by using multifactor authentication (MFA), which requires a second step after entering your password, such as security codes sent via text or email, in order to access your account. It is crucial that you never share these security codes with anyone. MFA can also include biometric verification like fingerprints, retina scans, face recognition, or passcodes from an authentication app.

The DIFS Fraud Investigation Unit (FIU) investigates criminal and fraudulent activity related to the insurance and financial markets and DIFS works with the Attorney General and other state, county, and local law enforcement to investigate these cases and refer them for prosecution. In addition to the work done by the FIU, DIFS also offers a variety of resources to help fight fraud, including the DIFS website, publications, videos, and the DIFS Locator, which enables consumers to verify that they are working with properly licensed individuals and businesses in the insurance and financial services industries.

Consumers who have questions or disputes that cannot be directly resolved with their financial institutions can contact DIFS Monday through Friday 8 a.m. to 5 p.m. at 877-999-6442 or file a complaint online at

The mission of the Michigan Department of Insurance and Financial Services is to ensure access to safe and secure insurance and financial services fundamental for the opportunity, security, and success of Michigan residents, while fostering economic growth and sustainability in both industries. In addition, the Department provides consumer protection, outreach, and financial literacy and education services to Michigan residents. For more information, visit or follow the Department on Facebook, X, or LinkedIn.