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How to spot imposter scams

Wells Fargo issued a warning regarding a surge in sophisticated imposter scams targeting consumers, with criminals posing as trusted entities to manipulate victims into sending money.
Scammers are increasingly utilizing artificial intelligence to clone voices, making fraudulent calls appear legitimate. "It sounds absurd, but it's happening," Margarita Alvarez, head of Wells Fargo Consumer Deposits, noted.
Fraudsters often pressure victims to act quickly, demanding payments through untraceable methods like gift cards, cryptocurrency, or peer-to-peer apps to resolve alleged fraudulent charges.
Once funds are transferred via these instant payment methods, they are typically impossible to recover. Wells Fargo advises that legitimate institutions will never demand immediate payment or pressure users to bypass security protocols.
Experts urge consumers to verify the identity of any caller claiming to be a trusted contact and never share one-time access codes, passwords, or personal information regardless of urgency.

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