This Twitter scam is a smart way to steal bank passwords - Don't fall for it

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With billions of people logging into their social media accounts daily, scams abound. Here’s one making the rounds that you need to watch out for.

Banking on social media

It’s not uncommon for businesses to maintain social media profiles. They get their message and products out there and gain new followers in hopes of turning them into customers.

Everything from streaming services to smartphone manufacturers has Facebook, Twitter and Instagram pages. This also offers customers the opportunity to share their input and concerns. Even customer service reps or chatbots can help you with problems through their social media pages.

And this is where the scam comes in. Crooks are impersonating banks on Twitter to target new victims.

Here’s how the scam works

A customer posts a complaint about their bank account and tags their bank (@Citi or @Chase, for example). A scammer posing as a customer service rep from the bank responds and gives a helpline number. If you call that number, the scammer will collect what information they can, such as your login credentials, and use it to get into your account.

BleepingComputer tagged Axis Bank in a tweet and received a reply from an account as a quote tweet, which is a Twitter feature that allows one account to share another account’s post with their own comment added.

The Axis Bank account did not have a blue checkmark (or even a gold one that indicates a verified business), which should raise suspicions. The problem is that thanks to Twitter Blue, anyone can purchase a blue checkmark next to their name for $8 per month or $84 per year.

Confounding the confusion is the fact that many businesses maintain separate accounts for their customer service. Citibank is a prime example. The main Twitter account is found at @Citi, while the customer service account is @AskCiti. Both of these pages have gold checkmarks, by the way.

And it gets worse. In February, Twitter CEO Elon Musk replied to a tweet that legacy Blue Verified accounts (those with blue checkmarks before the subscription service added them) would be done away with.

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