ST. GEORGE — Fraudsters may once again be at it with a series of sophisticated phishing attacks designed to steal bank account information from consumers who purchase items from any of the thousands of online retailers hosted on social media giant TikTok.
St. George News recently received information about residents whose bank account information was stolen after they made online purchases through the TikTok store.
After their account information was compromised, victims had to have their card blocked and request a replacement card from the bank.
The reader said some of the victims had accounts at Mountain America Credit Union.
The credit union’s public relations director Steve Wright and vice president of fraud management Rob Woellhalf told St. George News during a conference call Friday that they had recently received reports of fraudulent activity related to the TikTok Shop.
Woellhalf said that unlike a data theft, which often involves a specific financial institution or company, this case was an orchestrated attempt by malicious actors to obtain a customer’s financial credentials and data, regardless of which bank issued the card, so the scheme had an impact on other financial institutions as well.
Read the full article at St. George News.
