Scammers can make your bank's real number show on caller ID, then pose as fraud staff to get your security codes or push you to move savings.
A call that shows your bank's real phone number can still be a scammer. Criminals can fake caller ID, then pretend to be the bank's fraud team to get a security code from you or talk you into moving your own savings.
Caller ID was built to help people identify who is calling. It does not guarantee the information is true. According to the Federal Trade Commission, criminals can change the caller information to impersonate legitimate businesses, including banks. The FDIC Office of Inspector General says scammers have shown a bank's actual phone number while trying to get customers' login details.
A typical call goes like this. The number matches the one on the back of your debit card. The caller says they work in fraud and that someone is trying to withdraw $4,800. They know your name and sound professional. None of that proves they work for your bank.
Many of these scams start with an alarming claim, such as a $2,500 wire transfer or a purchase of expensive electronics. The FDIC describes a version where fake fraud-alert texts come first, followed by a call that appears to be from the bank. The two together feel believable.
Then the caller usually wants one of two things. The first is a security code sent to your phone. The code may really come from your bank, because the scammer may have started a login or password reset. The second is your savings. The caller says to move $15,000 to a safe account, which may belong to the criminal. Getting that money back could be extremely difficult.
Anyone with a bank account, debit card or credit card who gets unexpected calls or fraud-alert texts. A polished conversation is not a sign of honesty. Scammers may use stolen personal information and real banking terms. Even if the caller correctly names your bank, your address or recent activity, that does not confirm who they are.
The steps are in the alert box above. The idea behind them is simple: end the call and reach your bank yourself, using a number you found on your own. The Consumer Financial Protection Bureau gives the same advice. Do not press redial, because that may not reach the real bank.
If you already shared information or sent money, speed matters. Tell your bank exactly what you shared and ask for help securing your accounts. The FBI's Internet Crime Complaint Center recommends notifying your bank promptly and filing a report at IC3.gov if money was transferred.
If a bank call worries you, hang up and call the number on your card, and never read out a code or move money on a caller's say-so.
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