While BankIowa has not experienced any known cases involving our customers, call forwarding scams are becoming more common and are impacting consumers in our area. As your trusted financial partner, we want our customers to be aware of this growing fraud trend and know how to protect themselves.

How the Call Forwarding Scam Works

Fraudsters typically initiate this scam by contacting victims out of the blue. Fraudsters contact victims while pretending to be from a bank, phone carrier, technical support company, or another trusted organization. To make the interaction seem legitimate, scammers frequently use "spoofing" technology to fake their Caller ID, making it appear as though a genuine organization is calling.

Once on the line, they create a sense of urgency and instruct the victim to dial a code on their phone. For example, the caller might claim that dialing the code will secure a compromised account, stop an unauthorized money transfer, or fix a critical cellular service outage. Unknowingly, the victim activates call forwarding, which redirects incoming calls to a phone number controlled by the fraudster.

Once call forwarding is enabled, the fraudster may receive phone calls intended for the victim, including fraud verification calls or security code calls. Criminals use this hijacked call feed to bypass Multi-Factor Authentication (MFA) protocols. When a bank's automated system calls with a one-time passcode to verify a new login or approve a transaction, the fraudster intercepts the forwarded call, captures the passcode, and breaches the account.

How to Spot the Warning Signs

The most immediate sign of an active call forwarding scam is an unexplained drop in incoming phone calls. Because your inbound calls are being routed directly to the criminal, your phone will simply stop ringing. If you suspect your phone is forwarding calls without your permission, you can typically disable it by dialing your mobile carrier's deactivation code (such as *73 for many major US carriers) or by checking the call forwarding options within your smartphone’s internal settings menu.

How to Protect Yourself

Staying vigilant is your best defense against these attacks. Keep these critical safety tips in mind:

  • Never follow instructions from an unsolicited caller to dial codes on your phone that begin with * or #.
  • Be cautious of callers who pressure you to act immediately. Legitimate businesses will never force you to make rushed or panicked decisions.
  • Never share one-time passcodes, PINs, security codes and answers, or online banking credentials.
  • If someone claiming to be from BankIowa calls you about possible fraud, hang up and call us directly using a trusted phone number. It is always best to use a verified number, such as the one printed on the back of your debit card or listed on our www.bankiowa.com website.

Remember BankIowa will never ask you to activate call forwarding on your phone or provide security codes over the phone. If you receive a suspicious call or have concerns about your account, please contact us directly.

Not sure if a call is legitimate? Stop the conversation and contact BankIowa using a phone number you know and trust.