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Rolling out to Android devices in the coming weeks, a new security feature will automatically end a phone call from a spoofed bank number.
Scammers love to impersonate businesses you trust in hopes of convincing you to fall for their cons. One tactic they use is to call you pretending to be from your bank or financial institution. The goal is to trick you into sending them money or revealing your account details. Now, Google is rolling out a new security tool that aims to combat these types of spoofed calls.
Designed to protect you from financial theft or account compromise, the feature aims to detect spoofed calls. Here's how it works.
Also: The patching treadmill: Why traditional application security is no longer enough
First, you need to install your bank's app on your Android device. When you receive a call that seems to be from your bank, Android queries the app for confirmation to determine if the call is legit. If the app finds that no one from the bank is actually calling you, the call is disconnected.
In some cases, a bank could also assign certain phone numbers to be inbound-only, meaning they're never used to call customers. Any call spoofing from one of these numbers will also automatically be ended.
Spoofing a number from a trusted business like your bank isn't that difficult. Scammers use internet-based calling systems to spoof their caller ID so it appears they're calling from a different number. This type of caller ID spoofing can easily turn you into a victim of financial fraud. These scams have led to annual losses of more than 850 million euros (around $997 million), according to a paper released by Europol last October.