The Better Business Bureau says responding to that phony bank text message could cost you thousands. One of scammers' favorite tactics is impersonating a person or organization you know and trust. That's the premise of this new text message scam, which has been popping up in recent Scam Tracker reports. This time, con artists are impersonating your bank. Better Business Bureau’s Jessica Tharp says it all starts with you responding to that text that you think is from your bank, credit union, or lender.

Tharp says the best solution is just to ignore the text message, and if you can, block the number. If you spot a scam, report it to BBB Scam Tracker. Your report can help others avoid falling victim to similar scams.