FBI says new phone scam targets your bank account

The FBI is warning consumers to be on the alert for scammers who tie up their phone lines while emptying their bank accounts.

These "telephone denial-of-service" attacks are similar to ones that have been used by hackers for years to crash websites by flooding them with Internet traffic. But high-tech criminals are now using automated dialing programs and multiple accounts to overwhelm the phone lines of unsuspecting consumers and small- and medium-sized businesses.

The denial-of-service calls, which can include dead air, advertisements or phone sex menus, are actually diversionary tactics designed to tie up a victim's phone lines. And while the lines are busy, the fraudsters -- impersonating the victims -- raid their bank accounts, online trading and other money management accounts.