The fake bank fraud department call that moves your money
This one is sneaky. The caller sounds so helpful. They say they work at your bank. They say they caught a thief. To protect or undo the charge, they tell you to move or send your own money. Or they tell you to read back a code they text you. That hands your money or your account straight to them.
Step 1 See what it looks like
Hello, this is the fraud department at your bank. We see a charge for 900 dollars from another state. Did you make this charge? No? Okay, do not worry, we can reverse it and protect your account. For your safety, we need you to move your money to a new secure account right now. To confirm it is really you, I am texting you a security code. Please read that code back to me. Stay on the line. Do not hang up or the thief will drain your account.
This is a made-up example to teach you. We will never show you a real person’s message.
Step 2 Find the red flags
- 1
“we can reverse it and protect your account”
A real bank stops or reverses fraud on its own. It never needs you to move or send money to do it.
- 2
“move your money to a new secure account”
A real bank never tells you to move money to keep it safe. The 'safe account' belongs to the scammer.
- 3
“read that code back to me”
A real bank never asks for a one-time code from a text. That code lets them into your account or approves their payment.
- 4
“right now”
The rush is on purpose. It stops you from pausing to think or to check.
- 5
“Stay on the line. Do not hang up”
They keep you on so you cannot call your real bank. A held line can also stay open for them.
- 6
“this is the fraud department at your bank”
Caller ID can be faked to show your bank's real name and number. Seeing the bank's name proves nothing.
Step 3 See why it works
It feels like a rescue, not a robbery. A helper is saving your money, so you trust them. The fear of losing money makes you act fast. So you skip checking. The same scam may ask other things. It may ask you to send a Zelle or wire to yourself. It may ask you to buy gift cards. It may ask you to read out a code. It is all the same trick.
- Take a slow breath. A real bank can wait while you check. Being picked is not your fault.
- Hang up the phone, even if they say not to. A real bank will not punish you for hanging up.
- Never move money, send a payment, buy gift cards, or read out a code. Do not do it no matter what they say.
- Do not call any number the caller gave you. Do not click any link or text back. Those reach the scammer.
- Wait a minute so the call fully ends. Or use a different phone, in case they keep the line open.
- Find your bank's number yourself. Look on the back of your card or a paper statement. Or type the bank's website by hand.
- Call that number. Ask if anything is really wrong with your account.
- Did you read out a code or share a password? Tell your bank now. Change your online banking password.
- Did money already move, or did you buy gift cards? Tell your bank right away. Keep any receipts.
- Report it at ReportFraud.ftc.gov. Reporting helps stop them. It is nothing to be ashamed of.
Your real bank will never ask you to move money to keep it safe. It will never ask for a one-time code from a text.