If you receive a text message claiming your tax refund has been processed and approved and then asks for your banking information, it’s likely a scam.

The Colorado Department of Revenue is warning taxpayers of a new text-based scam that is spreading across the country. The text messages often claim your tax refund has been processed and include a link in the message stating you must submit “required payment information” by a fake deadline, otherwise you won’t receive the refund.

“The Department of Revenue encourages Coloradans not to respond or click links in text messages allegedly sent by the department,” the department announced in a news release Friday.

The department noted that it will not send unsolicited text messages asking for personal data or to update banking information.

The text messages often direct people to fraudulent websites designed to look legitimate so they can steal personal and banking information, the department said.

The affected states so far include California, Michigan, Minnesota, Missouri, Oklahoma, North Dakota, Pennsylvania, Texas and Virginia.

According to the Federal Trade Commission, scammers often try to get their victims to click on links in text messages or by promising you something, such as a free prize.

Scammers can also send fake messages that say they have information about an account or transaction. For example, they may claim that they’ve noticed suspicious activity on your account or that there’s a issue with payment information.

Reported losses to text scams have “skyrocketed,” according to the FTC. In 2024, victims reported $470 million in losses to scams, which is five times larger than in 2020. The number is likely higher since the “vast majority” of frauds aren’t reported.

According to the FTC, the top text scams for 2024 include fake package delivery problems, phony job opportunities, fake fraud alerts, bogus notices about unpaid tolls and “wrong number” texts.

People who receive the texts can report them to Stop Fraud Colorado. People can also report it to the FBI’s Internet Crime Complaint Center, or to the FTC.

The FTC also has an article teaching people how to better recognize text-based scams and what to do if you receive one.