Scam: Bank fraud call
Turn your sound on and answer the call.
Hi, this is Daniel with your bank's fraud team. We just stopped a $940 transfer out of your account. I'm texting you a code to cancel it. Please read it back to me.
What would you do?
If a caller says the call is from my bank and asks me to read back a code, then I will...
If you're not sure how to answer, see How this scam works below.
How this scam works
What did the scammer want?ShowHide
The code your bank texts you. The scammer starts signing in to your account as you, your bank texts you a code, and the caller asks you to read the code aloud so the scammer can finish and move your money.
How do I spot this scam?ShowHide
The caller asked you to read back a code. A code from your bank is only for you to type in yourself, and your bank never calls to ask for one.
What should I do?ShowHide
Hang up, even when the number on your screen is your bank's. Call the number on the back of your card, or open your bank's application and check for any transfer you don't recognize.
Someone's story
Based on real scams reported in the US. Names and details changed to protect privacy.
Margaret R., 72
Mooresville, North Carolina
The phone rang on a Tuesday afternoon. A man said he was from the bank's fraud department, and he already knew her address and the last four digits of her card. He said her account was being drained right now, and to stop it she had to read back the code he would text her. Margaret read it back, and $31,000 was gone.
Full story
He did not sound like a criminal. He sounded calm and helpful, the way a real bank employee would, and he knew enough about Margaret that doubting him felt foolish.
The code he texted was real. It was her bank's own security check, the last thing standing between him and her money. The moment she read it aloud, she handed it over. She found out the next morning.
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