How to Avoid Online Banking Fraud


With pandemic-related fraud schemes on the rise, protecting your personal information is more important than ever. And these days, con artists can try to reach you through social media, email, mobile, and more. We want to help you keep your financial and identification information safe, so we put together some top safety tips.

As they say, an ounce of prevention is worth a lifetime of cure, and the same rule applies when it comes to scammers. If you know what to look out for, you can avoid becoming a victim. 

Types of cons to look out for

Remember, fraudsters are looking to elicit an emotional reaction — typically joy (“You’ve won money!”) or fear (“Your account will be closed unless…”).  Once we think emotionally, we lose our critical thinking skills and become impulsive. We are less likely to question and more likely to do. That’s when cyber criminals try to gain your trust and seize your personal information and money.

The best way to keep your guard up is to know what to look out for. Here are a few shady situations you may encounter:

Social Media

Scammers often impersonate businesses on social media to prey on unsuspecting customers for their financial details and identification information. They may request to follow you or send you a direct message with an exciting giveaway invitation. Fraudsters even pretend to be Customer Care specialists and may respond to your post inquiries and advise you to visit a particular website or download a program.

Pro tip: Check to see if the business account is verified. If the account does not have a check mark or verification badge next to its name, you may be dealing with an imposter. If you’re not sure, click the social media links located at the bottom of the MoneyLion homepage and see if the accounts match. You can also check to see if the account has one of our social media handles:

Facebook: @MoneyLion

Twitter: @MoneyLion

Instagram: @MoneyLionInc

Do not click links or download programs as they may contain malware or lead you to fake websites. If you need help with a MoneyLion product or service, please call our Customer Care specialists at 801-252-4427.

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Phone Calls

Con artists may call you pretending to be MoneyLion Customer Care specialists. They may ask you for your password or Social Security number because your account has been “compromised.” Once they have your personal information, they can sell your data or use your funds. 

Pro tip: If you receive an unexpected call from us requesting personal information, you can ask to hang up and call us directly at 801-252-4427 to verify the legitimacy of the caller.

Text Messages

Same story as above. Scammers can text you pretending to be a part of the MoneyLion team to secure your bank account details, Social Security number, or any other valuable information. They can also send texts with harmful links. 

Pro tip: If you receive a text message from someone identifying as a MoneyLion Customer Care specialist and you’re unsure whether or not that person is lying, please contact us at 801-252-4427.   


Your spam filters may keep many phishing emails out of your inbox, but they can occasionally slip through the cracks. These kinds of messages usually say: 

  • Your account has suspicious activity or log-in attempts
  • There’s a problem with your account or payment information
  • You’re eligible for a government refund

Don’t let the urgent tone fool you — it’s a trick to get you to submit personal information on a whim. 

Pro tip: Check to see if the email was addressed to a username or a generic title, like “sir” or “madam.” Writers of fraudulent emails have varying degrees of information about the recipient, and the whole point of their messaging is to learn more. Legitimate companies usually address customers by their full name. Just like social messages and texts, emails can contain harmful links, so don’t click any if you’re suspicious of the sender.  

Fake Websites

Con artists will go to great lengths to steal your information, and when it comes to banking, they pull out all the stops. That includes creating fake websites. They may share links to their websites in emails, texts, or direct social media messages saying there has been a breach and you need to change your account password. 

Pro tip: Look at the URL closely and see if there are words out of place. If you happen to end up on the site (never click a link you’re suspicious of!), are there grammatical errors on the page? If you’re ever unsure, please call our Customer Care specialists at 801-252-4427.

How to stay safe 

Now that you know what to look out for, consider preventative measures to secure your data:

  • Never share personal information — like passwords, Social Security number, and bank account details1 — with anyone, this includes social media
  • Use unique, tough-to-crack passwords and try to update them regularly to keep hackers at bay
  • Use caution when using free/public WiFi as they have poor security measures
  • Install anti-virus and spyware protection 
  • Sign up for a bank account with robust security
  • Never write identifying information on your debit card
  • Sign up for MoneyLion emails and follow our Facebook, Twitter, and Instagram channels so you can tell when a promotion is authentic

We want to help

Our customers’ safety is our top priority, and we’ll continue to work hard to protect you against fraud. We encourage you to work alongside us and take reasonable steps to prevent unauthorized account access and identity theft. If you ever encounter a fake MoneyLion account or similar scam, please contact our Customer Care specialists at 801-252-4427.


1 We may ask you for the last four digits of your Social Security number and bank account to verify your identity.


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