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A call from your bank’s “fraud department”? How to tell if it’s real

Short answer: Hang up and call the number on your card or statement. The FTC says no real bank caller will ask for your verification code, and anyone who tells you to move your money to “protect it” is a scammer. Period.

By Agent Lane Editorial · Page dated 3 November 2026

How does the fake bank call work?

Someone calls, texts or messages saying they’ve spotted fraud or criminal activity on your bank, investment or retirement account. They offer to help “protect” your money. The FTC says these scams sometimes ask for a verification code and always end with you moving money out of your account.

A newer version starts with a pop-up on your computer saying your bank account was hacked, with a number to call. The FTC says the “support” person then passes you to someone pretending to be from your bank’s fraud department or a government agency such as the FTC or the FBI.

What will a real bank never ask?

  • Your verification code. The FTC says no caller, especially someone from your bank’s fraud department, will ever ask for it. The code proves you are you, so sharing it lets the scammer log in as you.
  • To move your money to keep it safe. The FTC says your money is fine where it is, and moving it means you’ll lose it.
  • To buy gift cards or bitcoin, or hand over cash or gold. The FTC says scammers ask for these to “protect” your money too.

The caller knew my name and the number looked right. Isn’t it real?

Not necessarily. The FTC says scammers can fake the name and number on caller ID. A calm, professional voice, or one that sounds like someone you know, proves nothing either: AI can clone voices. See check a call or video before you send money.

What should I do on the call?

  1. Don’t share a code, password or PIN, and don’t move any money.
  2. Hang up. A real bank will not mind.
  3. Call your bank on the number on your statement or the back of your card, never a number the caller gives you. The FTC says that number goes straight to the scammer.
  4. Never call a number in a security pop-up. The FTC says those pop-ups are always scams.

Not sure about a call that mentions crypto? Run it through the 10-question crypto scam checklist.

What if I already moved money or shared a code?

Call your bank or investment company right away, on a number you know is real, and tell them what happened. The FTC warns that bank accounts have fewer protections than credit cards, and money you were tricked into moving yourself is hard to get back, so speed matters. Change your online banking password. Then report it at ReportFraud.ftc.gov.

If they also got personal details such as your Social Security number, a free credit freeze stops new accounts being opened in your name.

Sources

Checked 3 November 2026 on each organization’s own site.

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