Banks & Money

The fake bank call

Someone says they are from your bank fraud team, that your account is under attack, and that you must act now: read out a code, confirm your login, or move money to a "safe account". Your bank will never ask for any of those three things.

How does it work?

It often starts with a text asking if you made a purchase. Reply "no" and the phone rings within minutes, which makes the call feel like a response to you.

Caller ID can be set to show your bank's real name and number. The FTC is direct about this: the name and number you see might not be real.

The code they need you to read out is the one your bank just sent because the caller is logging in as you at that moment.

What does one look like?

Phone call ยท Caller ID shows your bankIllustrative example
This is the fraud department. We have blocked a $1,240 transfer from your account. To stop it I need to verify you. I am sending a six digit code now, please read it back to me. Then we will move your balance to a secure account while we investigate.
  1. The code is a login code. Reading it out lets the caller into your account.
  2. "Secure account" means an account the caller controls.
  3. The call gives you no time to think, and pushes back if you say you will call back.

What are the warning signs?

  • You are asked for a verification code, PIN, or full password.
  • You are told to transfer, withdraw, or "protect" your money.
  • The caller resists when you say you will hang up and call the bank yourself.
  • You are told not to tell branch staff the real reason for a withdrawal.

How do I check it myself?

  1. Hang up. A real fraud team will not mind.
  2. Call the number printed on the back of your card, or use the bank app.
  3. Wait a minute and use a different phone if you can, in case the line was held open.

What if I already acted?

  • Read out a code or gave your login? Call the bank now on the number from your card and say your account may be taken over. Change the password and turn on two-factor authentication.
  • Sent money? Report it to the bank at once and ask them to reverse the payment. The FTC advises asking even though it may not succeed.
  • Then report it at ReportFraud.ftc.gov.

See the full recovery steps

Sources

Written by the Scammer Checker editors. Published September 21, 2026. Reviewed against the sources above on September 21, 2026. The example is ours and uses reserved example domains.