LINDEN

A caller says they are your bank and your money is at risk.

Bank impersonation calls use a fake fraud alert to get your login codes or your money, and this post explains the warning signs and what to do.

Source: This post is based on the FBI public service announcement Account Takeover Fraud via Impersonation of Financial Institution Support, published by the FBI’s Internet Crime Complaint Center (IC3) on November 25, 2025.

The phone rings and the caller says they are from your bank. They say there are fraudulent transactions on your account and they need to act fast. Then they ask for your login details or the one-time code just sent to your phone, or they ask you to move your money somewhere safe. This is a bank impersonation scam. Hang up, and call your bank yourself on the number printed on your card.

The FBI has warned about criminals posing as bank staff in the United States, and UK police have issued a similar warning about scam calls from spoofed numbers. A real bank will understand if you hang up to check.

What the scam looks like

The FBI says criminals impersonate a bank employee, customer support or technical support, by phone call, text or email. They may say there are fraudulent transactions on your account and send a link to a fake website where you think you are reporting the fraud. Their aim is to get your username, password and the one-time passcode your bank sends you.

In some cases, the FBI says, the fake bank caller claims your information was used to make fraudulent purchases and passes you to a second criminal posing as law enforcement. Once they can sign in, they quickly wire your money to accounts they control. The FBI says that in nearly all of these phone and message cases, the criminals also change the password, locking you out of your own account.

In an earlier warning about “Phantom Hacker” scams, the FBI described a caller posing as the bank who says a foreign hacker has accessed your accounts, tells you to move your money to a “safe” account, and tells you not to tell anyone the real reason. When the caller wants to send someone to collect your card instead, that is courier fraud.

Who it targets

The FBI says these criminals target individuals, businesses and organizations of all sizes. Since January 2025, the FBI’s IC3 has received more than 5,100 complaints of account takeover fraud, with losses of more than $262 million.

The FBI says the “safe account” version, which it calls the Phantom Hacker scam, significantly affects senior citizens. In that warning, it said almost 50% of the tech support scam victims reporting to IC3 between January and June 2023 were over 60.

Warning signs

  • An unexpected call, text or email from someone saying they are your bank’s fraud team or customer support.
  • A claim of fraudulent transactions or a hacked account that needs action now.
  • A request for your password or the one-time code sent to your phone.
  • A link to “report the fraud” or to sign in.
  • Being told to move money to a “safe” account, or to keep the reason secret.
  • A hand-off to someone who says they are from the police or a government agency.
  • A familiar number on the screen. Caller ID can be faked.

How to protect yourself

  • Hang up and call back yourself. The FBI says to be suspicious of unknown “banking” employees who call you and not to trust caller ID. Hang up, find the correct number, and call it yourself.
  • Never share a login code. The FBI says companies generally do not contact you to ask for your username, password or one-time passcode.
  • Use a bookmark to reach your bank. The FBI advises using a saved bookmark for login pages instead of search results, adverts or links in messages.
  • Keep two-step sign-in turned on. The FBI says to enable multi-factor authentication wherever you can and never disable it.
  • Check your accounts regularly for missing deposits, or withdrawals and transfers you did not make.
  • Know the rule. Report Fraud says genuine banks and the police will never call asking you to transfer money or share personal financial details.

A simple family plan

  • Agree that nobody moves money because of a phone call until they have hung up and called the bank themselves.
  • Keep the bank’s number from the card somewhere easy to find.
  • Agree that one-time codes are never shared with anyone who calls.
  • Make it easy to ask. A quick “does this sound right to you?” call is always welcome.

Scams don’t stop at borders

The FBI’s warning comes from the United States and Report Fraud’s from the UK, and calls from fake bank staff can reach people in Canada and anywhere else too. Wherever you live, it is worth staying informed and being wise before moving money or sharing a code because of a call you did not expect.

The same pattern elsewhere

In the UK, Report Fraud, run by the City of London Police, warned about scam calls from spoofed police and bank numbers on October 15, 2026. It said criminals use spoofing software to make calls look as if they come from a trusted organisation such as the police, a bank or a government agency, to get personal or financial details or to get people to transfer money. Report Fraud advises ending the call and contacting the organisation directly, using details you have found yourself from an official website or trusted correspondence.

What to do if you’ve been affected

If you shared a code or moved money, contact your bank as soon as you can. The FBI says to ask your bank for a recall or reversal of the transfer, and to change any passwords that may have been exposed. Being targeted is nothing to be ashamed of.

  • US: file a complaint with the FBI’s IC3 and report to the FTC at ReportFraud.ftc.gov. If you are 60 or older and need help filing with IC3, call the DOJ Elder Justice Hotline on 1-833-FRAUD-11 (1-833-372-8311).
  • UK: call 159 to reach your bank (Stop Scams UK) and report to Report Fraud or on 0300 123 2040.
  • Canada: report to the Canadian Anti-Fraud Centre.
  • Contact your bank on the number printed on your card or statement, not a number the caller gave you or a missed call that claimed to be the bank.

How Linden helps

Linden is being built so older adults and their families can talk a money decision through with someone they trust. When a caller says your money must move right now, a pause to check with someone you trust is the safest step.

Sources

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