Does Capital One Text Customers About Suspicious Activity? Beware of Scammers

a Capital One bank

One prevalent scam on the rise in the United States is smishing, a form of social engineering attack that uses fake mobile text messages to deceive individuals into downloading malware, divulging sensitive information, or transferring money to scammers. 

The number of Americans falling victim to text-messaging scams is increasing, resulting in significant financial losses. According to a report by the Federal Trade Commission (FTC), U.S. consumers lost a staggering $330 million to fraudulent texts in 2022, a substantial increase from $131 million in 2021 and $86 million in 2020.

These scam texts often deceive consumers into believing that their bank accounts have been compromised. As a Capital One customer, you may receive text messages alerting you to suspicious activity on your account or credit card. But are these messages really from Capital One? Keep reading to find out.

Will Capital One Text You About Suspicious Activity?

One valuable feature that Capital One offers to help protect customers from fraud is 2-Way Text Alerts. By opting in, Capital One will notify you via text if they detect potentially suspicious activity on your account. This allows you to respond immediately to prevent fraudulent transactions. 

Unfortunately, scammers have exploited this service by sending fake text alerts to customers, claiming there is suspicious activity on their account in an attempt to steal their account information and money.

Some of these fraudulent text messages often falsely state that your credit or debit card has been locked and instruct you to call a specific phone number to resolve the issue. When you call the number provided, you will be prompted to enter your credit card details as part of a phishing scam.

However, there are certain indicators in these fraudulent alerts that, if recognized, can help you avoid becoming a victim of fraud.

How To Identify A Fraudulent Capital One Text Alert

If you receive a text alert from Capital One that seems suspicious, there are a few key things to look out for that can help you identify whether it is fraudulent:
  • The sender's phone number: Always verify the phone number sending the text. Capital One uses specific short codes for their alerts, such as 227898 and 227767. If the text comes from a different short code or a ten-digit number, it is likely a scam.
  • The presence of a phone number in the text: If the text instructs you to call a specific number, it is a red flag for a scam.
  • Suspicious links: Capital One does not include links in their text alerts. Be cautious of clicking on shortened URL links like TinyURL or Bitly, as they could lead to security threats.
  • Requests for sensitive information: Never disclose sensitive information via text messages. Instead, contact Capital One directly through their official website or customer service line to confirm the legitimacy of the alert.
  • Urgency in the message: Scammers often create a sense of urgency, pressuring you to act quickly. If a text from Capital One urges you to make a payment, transfer funds, or provide personal information, take a moment to assess the situation rationally. Always verify with your bank through official channels before taking any action.
Do not send any personal information via text messages. Be aware that Capital One will never ask you to provide your account number, username, password, or full Social Security number via text.


Report Fraudulent Text Alerts

If you get a sketchy text from someone claiming to be Capital One, don't respond or click any links. Instead, snap a screenshot of the message and shoot it over to abuse@capitalone.com. Make sure to include the phone number it came from and what the message said. 

Once you've done that, delete the text from your phone. 

If you did click a link and gave out any account info, give Capital One a call using the number on the back of your card if you think something fishy is going on.

According to Ken Dodelin, Vice President of Mobile, Web, Conversational AI, and Messaging Products at Capital One, the company boasts a remarkable 99% success rate in accurately interpreting customer responses to SMS fraud alerts.

This high level of understanding demonstrates Capital One's commitment to effectively communicating with and protecting its customers from potential fraud.
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