This scam flips your own caution against you. It starts with a warning about fraud on your account, then uses your worry to walk you into the real fraud. The tell is always the same: a real bank protects your money by keeping it where it is, never by moving it.
How this scam works
A text, email, or robocall warns of a suspicious charge on your Amazon, PayPal, or bank account and offers to connect you to the fraud department.
The agent confirms scary details, then moves you off the official app onto the phone where they control the story.
They ask you to read back a one time passcode that was just texted to you, which lets them into your account.
Or they tell you your account is compromised and you must move your money to a new safe account to protect it.
The safe account belongs to the scammer, and the transfer is yours to lose.
What it sounds like
Agent: For your safety we need to move your balance to a secure holding account while we investigate. Can you read me the code we just sent?
You: No. A real bank never asks you to move money or read back a code. Hang up and call the number on your card.
Red flags
- Any request to read back a one time passcode or verification code.
- Being told to move your money to a safe or secure account.
- Pressure to act immediately over the phone instead of in the official app.
- A caller who already claims to know your account is hacked.
What to do
- Hang up and call your bank using the number printed on your card or its official website.
- Never share a one time code. Real staff never need it.
- If you moved money or shared a code, call your bank immediately to freeze the account, then report to the FTC and FBI IC3.
How to report this scam
See the full reporting guide for every US agency and what each one handles.
Frequently asked questions
Will my bank ask me to move money to a safe account?
Never. This is one of the clearest signs of a scam. Banks protect your money by keeping it in place and investigating, not by asking you to transfer it.
Why do they want the code from my text?
That one time passcode is the key to logging into your account or approving a transfer. Anyone who asks you to read it back is trying to break in.
The caller ID showed my bank's name. Is it still a scam?
Yes, it can be. Caller ID and sender names are easy to spoof. Judge the call by what they ask you to do, and call back on a number you trust.
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