Text message scams, or smishing, have become more prevalent than phone call scams, with fraudsters frequently impersonating banks to steal sensitive information. One of the most common scams involves scammers posing as a financial institution, such as TD Bank, and sending alarming messages about unauthorized charges.

These messages often include a fraudulent link that leads to a website designed to look like the bank’s official page. Once a victim enters their login credentials, the scammers gain full access to their bank account. In some cases, simply clicking the link can install malware that records keystrokes or locks the user’s device with ransomware.

This scam is particularly effective because many people sign up for legitimate bank alerts, making it difficult to distinguish between real and fake messages. Additionally, some scammers purchase phone numbers similar to those of banks, hoping to deceive victims who misdial while trying to verify the message.