Scammers are exploiting meltdown in the banking sector in an attempt to trick users into handing over sensitive financial information.

Phishing emails commonly pose as security checks from a prospective mark’s bank. The latest generation of the scam imitates communiques about bank mergers.

US consumer watchdog the Federal Trade Commission warned customers on Thursday not to take the bait. The FTC’s alert - Bank Failures, Mergers and Takeovers: A “Phish-erman’s Special” - can be found here.