How to avoid Citibank scams: 8 common scams and how to protect yourself

The growing threat of Citibank scams

According to the Federal Trade Commission, consumers reported losing over $12.5 billion to fraud in 2024, which is 25% more than the prior year. Also, 90% of 2,432 American online respondents in a Citi survey believed they could detect and prevent financial scams, despite more than 27% of them reporting falling victim at some point.

Scammers prey on people’s emotions and create a sense of urgency. They will imitate people and brands you trust, then trick you into revealing sensitive information, including your bank login credentials. Just think of your hard-earned cash, everything you have, gone in an instant. That’s why you must do everything you can to ensure your online and mobile banking safety. 

8 Citibank scams you need to know about

Cybercriminals use various methods to exploit Citibank customers’ trust. If you educate yourself on what these methods are, you will have a much better chance of avoiding becoming a victim of a scam. Here are eight Citibank scams you need to know about.

1. Citibank email phishing scams

Phishing involves a cybercriminal disguising themselves as a trusted entity to steal personal information. Scammers send emails pretending to be Citibank, urging you to click a link and enter sensitive data on a fake site that looks legitimate. Red flags include urgent language, spelling mistakes, and email addresses or links that don’t match Citibank’s official domain. For example, you might receive an email saying your Citibank account has been suspended, which includes a link to a fake site designed to steal your login details.

2. Citibank smishing scams

Smishing is a type of phishing attack carried out through text messages (SMS). In a Citibank smishing scam, victims receive texts that appear to come from Citibank, prompting them to reveal account information or click on malicious links. Watch for spelling or grammatical errors and a sense of urgency, as well as suspicious-looking links. 

3. Citibank vishing scams

Vishing, or voice phishing, involves scammers calling victims while pretending to be from Citibank. They claim there is an issue requiring you to share personal information. Red flags include requests for sensitive details, urgent language, and suspicious caller ID. 

4. Citibank fraudulent transaction alerts scam

This scam involves cybercriminals sending fake emails or texts, and sometimes mail, alerting victims of fraudulent payments. The scam convinces victims to reveal sensitive information, which is then used to access accounts or sold on the dark web. Red flags include a strong sense of urgency, suspicious email addresses, and generic greetings like "Dear Customer." For example, you may receive a text alerting you to transactions on your account and prompting you to click a link, which leads to a fraudulent site stealing your login information.

5. Citibank SIM swap scams

A Citibank SIM swap scam is a telecom-related attack that impacts your banking security. Scammers contact your mobile provider pretending to be you and request a new SIM card. Once activated, they receive your texts, including two-factor authentication codes, allowing them to access your Citibank account. Warning signs include sudden loss of phone service, unexpected account lockouts, or suspicious transactions. For instance, you might stop receiving calls and texts while a scammer uses your SIM to access your account.

6. Robocalls promoting fake Citibank offers

Cybercriminals use automated robocalls to promote false offers, such as better interest rates, to Citibank customers. These calls promise limited-time deals and ask for sensitive information, which is then used for fraud. Citibank will never ask for passwords or account numbers over the phone. Be cautious of urgent language and suspicious phone numbers. 

7. Citibank tech support scams

A Citibank technical support scam involves cybercriminals pretending to be Citibank technical support, claiming there is a problem with your account. You may receive a pop-up or text or visit a fake website urging you to contact support. The scammer may ask you to install remote access software or visit a fraudulent site to steal your information. Remember, Citibank will never ask for your password, one-time passcode, or remote access or request you send money to a new account. 

8. Citibank fake investment scams

In these scams, fraudsters impersonate Citibank representatives and offer fake investment opportunities. They promise high returns with low risk and ask you to transfer funds to an unfamiliar account. Warning signs include unsolicited contact, unverifiable representatives, and refusal to meet in person. 

How do cybercriminals target Citibank customers?

Cybercriminals use several tactics to target Citibank users. Below are some of the most frequent tactics these fraudsters employ to exploit Citibank accounts:

• Psychological manipulation. Fraudsters exploit victims’ curiosity by creating intriguing subject lines for their emails. 
• Use of technology. Scammers can use technology in several ways in Citibank scams. Some of them include AI, spoofing, automated calls, and malware.
• Personalized attacks. Scammers can collect financial information from data breaches, social media, and public records to personalize their attacks and make you more likely to trust them.
• Social engineering. Scammers use social engineering techniques to prey on a person’s emotions. They make them feel joy (a great-sounding investment offer), trust (impersonating representatives of your bank), and/or fear (fraudulent charges on your checking account).

How to verify if a Citibank email, call, or text is real 

Now that you're aware of how scammers operate, it's important to understand what legitimate communication from Citibank looks like. Use these tips to verify whether an email, call, or text claiming to be from Citibank is authentic:

• Check the sender’s email address. Official Citibank email addresses end with @citi.com. Keep in mind, though, that some scammers have spoofed websites and email addresses to look real.
• Be cautious of panic-inducing messages. Communications that threaten to lock your checking account or cause loss of funds are often scams.
• Contact Citibank directly from its official website. If prompted to click a suspicious link, log in to your online account and start a chat with a representative to verify the authenticity of the message.
• Watch for poor grammar and spelling errors. These are signs that the email isn’t real since a reputable bank like Citi is unlikely to include such mistakes.

How to protect yourself from Citibank scams

You might feel afraid to use your Citibank online account with scammers out to get you. There’s no need, though, if you’re proactive and learn how to avoid Citibank scams. Follow these tips to protect yourself:

1. 1.Use two-factor authentication (2FA). Two-factor authentication adds a layer of protection to your online accounts by requiring another factor in addition to your username and password to log in, like a code sent to your phone.
2. 2.Create strong, unique passwords. Passwords with capital letters, numbers, and special characters are harder to guess and will make your online accounts more secure. To generate strong passwords, you can use the NordPass password manager.
3. 3.Be careful when it comes to unsolicited communications. If you receive an email, text message, or email from Citibank that you weren’t expecting, be wary and contact Citibank directly.
4. 4.Monitor your account. Practice credit card safety by logging in to your Citibank online account regularly and making sure that you don’t see any unfamiliar charges or other shady activity.
5. 5.Scan site URLs. Use a link checker on any potentially shady URLs to check for malware, phishing attacks, and fake websites.
6. 6.Do not engage with suspicious links. If you have any doubt that a link to a website is authentic, don’t click on it.
7. 7.Use anti-malware software. Anti-malware software like NordVPN’s Threat Protection Pro™ will prevent you from visiting websites that host malware or phishing attacks. It will also scan the files you download and remove dangerous files.
8. 8.Report suspected fraud right away. If you think you’ve been the victim of Citibank fraud, immediately report it to both save you from any further consequences and prevent it from happening to others.

What to do if you fall victim to a Citibank scam

Even with all the knowledge in the world, you could still click on a phishing link and become the victim of a Citibank credit card scam or some other type of fraud. If this happens, here’s what you should do:

1. 1.Contact Citibank. For credit card fraud, call the phone number on the back of your card. For other types of fraud, contact your Citibank representative. Also, report the fraud to the Federal Trade Commission at reportfraud.ftc.gov.
2. 2.Come up with a new PIN and account passwords. As the victim of a Citibank scam, you need to change your PIN and account passwords as soon as possible so the scammer won't be able to log in to your credit and checking accounts.
3. 3.Watch your Citibank account for shady activity. Be on the lookout for any strange activity on your bank account.
4. 4.Put a fraud alert on your credit reports. To place this alert on your credit reports, contact one of the three major credit bureaus and request it. You only need to contact one, not all three.

How does Citibank fight scams?

Citibank offers a Fraud Early Warning system, which reviews customers’ accounts for unusual activity free of charge. Through monitoring users’ accounts using sophisticated technology, it often detects fraud before customers are aware of it. If Citi notices strange activity on your card, a representative may contact you by phone, text, or email to confirm that you have authorized that purchase. However, these scams do happen, and a 2024 lawsuit against Citibank alleged that it failed to protect its customers from scams.