Phone Call From Your Bank's "Fraud Department" — How to Tell It's a Scam
Someone called claiming to be from your bank's fraud department. They already know your name and the last four digits of your card. They say a suspicious transaction was detected and you need to verify your identity or move money to a 'safe account.' Real fraud departments never ask you to move money or share your full credentials over the phone.
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How This Scam Works
Critical Risk — Real Fraud Departments Never Ask You to Move Money
Your bank's fraud department will never ask you to transfer money to a "safe account" or share your full credentials over the phone. If they do, it is a scammer.
Note: This scam typically arrives via phone call, not email. If you received a suspicious email, forward it to check@scam.support for a free risk assessment. For phone scams, report to the relevant agency in your country — see all reporting agencies.
Someone calls claiming to be from your bank's fraud department. They already know your name and possibly the last four digits of your card (information available from data breaches). They say a suspicious transaction was detected and you need to verify your identity or move money to a "safe account" to protect it. The "safe account" belongs to the scammer.
According to UK Finance, authorized push payment (APP) fraud — where victims are tricked into transferring money — resulted in losses of 459.7 million pounds in the UK in 2023. In the US, the FTC reports that bank impersonation is among the most costly fraud types.
Red Flags
- Caller claims to be from your bank's fraud department
- They already know some of your personal details
- They ask you to move money to a 'safe account'
- They ask for your full PIN, password, or one-time passcode
- They tell you not to discuss the call with anyone else
What You Should Do
What To Do
- Hang up immediately
- Call your bank using the number on the back of your card
- Wait at least 5 minutes before calling — scammers can keep the phone line open
- Never transfer money based on an unsolicited phone call
- Remember: real banks will never ask you to move money to a safe account
Sources
- UK Finance — Annual Fraud Report 2024 (APP fraud losses: £459.7 million in 2023)
- FTC — Consumer Sentinel Network Data Book 2023 (bank impersonation fraud)