Is My Bank Really Calling? How to Spot a Fake Fraud Alert

What this helps with: What to do when a call, text, or email says it’s from your bank’s fraud team, and how to check if it’s real without putting your money at risk.

The short answer: Hang up. Then call your bank yourself, using the number on the back of your card or on your statement. Your real bank will never ask you to move your money to “keep it safe,” and it will never ask for the code it just texted you.

How the scam usually goes

The FTC, FBI, FDIC, and AARP all warn about this one. It often starts with a text, then a call:

1. A text that looks like a bank alert. “Did you make this $1,850 purchase? Reply YES or NO.” The FDIC says fake bank texts are one of the most reported text scams.
2. A call from the “fraud department.” The caller may know your name and your bank’s name. Caller ID may even show your bank’s name, because scammers can fake caller ID, the FCC says.
3. Something sounds urgent. “Someone is draining your account right now.” They want you scared, so you act fast.
4. They ask for a code. “We just sent you a code to confirm it’s you. Read it to me.” That code lets them into your account.
5. They tell you to move your money. They say to send it to a “safe account,” withdraw cash, buy gold, or feed cash into a crypto ATM (also called a Bitcoin ATM). AARP says its helpline hears about this more and more.
6. “Don’t tell anyone, not even the bank teller.” Secrecy keeps you from checking.

The story can grow. The FBI calls one version the “Phantom Hacker” scam. A fake “tech support” person says your computer was hacked. Then a fake bank worker calls. Then a fake government worker says your money must go to a new account to protect it. In October 2026 the FTC also warned about callers who pretend to be from the FTC and threaten to shut off your phone number. Different names, same goal: your money.

Three rules to remember

• Never move your money to “protect it.” The FTC says your money is fine where it is. Anyone who tells you to move it is a scammer.
• Never share a code that was texted or emailed to you. A real bank’s fraud team will never ask for it.
• Never let a caller into your computer or phone. Don’t download an app or program because a caller told you to.

What to do if you get a call or text like this

1. Don’t reply to the text, and don’t tap any link in it.
2. Hang up on the caller. You can say, “I’ll call my bank myself.” You don’t have to explain.
3. Find your bank’s real number on the back of your debit or credit card, on a paper statement, or in your bank’s app.
4. Call that number and ask, “Is there a problem with my account?” If the bank says no, it was a scam.
5. Or check your account in your bank’s own app or website. Type the address yourself, or use a bookmark you saved.
6. Talk to someone you trust before you move any money. A family member or a bank teller is a good start.

Is this bank even real?

Some scammers build fake bank websites. The FDIC says you can look up any bank by name or web address in its free BankFind tool, or call the FDIC at 1-877-275-3342 (1-877-ASK-FDIC) to check.

Make your account harder to break into

• Turn on alerts in your bank’s app, so you get a message for each purchase or withdrawal. Real alerts never ask you to call a new number or share a code.
• Turn on two-step login. See How to Turn On Two-Step Login.
• Block spam calls on your phone. See How to Block Spam Calls and Texts.

If you already sent money or shared a code

Act fast. The sooner you call, the better your chances.

1. Call your bank or card company right away, at the number on your card. Tell them you were scammed. Ask them to freeze your account and stop or reverse any payment.
2. Change your online banking password. If you use the same password anywhere else, change it there too.
3. Let someone into your computer? The FTC says to update your security software and run a scan. If you gave out a password, change it right away.
4. Sent a wire? Call Western Union at 800-448-1492 or MoneyGram at 800-926-9400.
5. Report it to the FTC at ReportFraud.ftc.gov and to the FBI at ic3.gov.
6. Gave out your Social Security number? Go to IdentityTheft.gov for a step-by-step plan.

Good to know: The FTC warns that bank accounts have fewer protections than credit cards. If you’re tricked into moving money yourself, you may not get it back. That’s why it’s so important to check first.

This is not your fault. These scammers fool careful people every day. Telling someone helps stop them.

For free, friendly help:

• AARP Fraud Watch Network Helpline: 877-908-3360 (Monday to Friday, 8 a.m. to 8 p.m. ET). You don’t need to be an AARP member.
• National Elder Fraud Hotline (U.S. Department of Justice): 833-372-8311 (Monday to Friday, 10 a.m. to 6 p.m. ET).

Want more ways to stay safe? See our guides to spotting a scam and family emergency scams.

Official sources

• FTC: Got a call about fraud activity on your bank account? It could be a scammer
• FTC: Never move your money to “protect it.” That’s a scam
• FTC: The FTC is not calling to deactivate your phone number (Oct 22, 2026)
• FDIC: Bank impersonation scams and fake banks
• FTC: How to spot, avoid, and report tech support scams
• FCC: Caller ID spoofing
• FBI: “Phantom Hacker” scams target senior citizens
• AARP: Fake bank alert: don’t hand over your code (Oct 15, 2026)
• AARP: Fraud Watch Network Helpline
• FTC: Report fraud

Last checked: Oct 25, 2026

This is general help, not personalized tech support, and not legal or financial advice. It covers the U.S. If you think you’ve lost money, contact your bank or card company and the official sources above.