It Doesn’t Make Cents: FBI Warns of Banking Spoofing Scams

Summary

• Scammers are “spoofing” official bank phone numbers so the caller ID appears to be from your financial institution. 
• In a bank spoofing scam, fraudsters use stolen data, such as your exact account balance and account number, to gain your trust. 
• The goal is to trick you into revealing sensitive information or transferring money to a “secure” account under their control. 
• Legitimate companies and banks will never ask you for your username, password or to move money to a new account. 
• If you’ve received one of these calls or believe you’ve been targeted, contact the Identity Theft Resource Center for free help via text or phone call at 888.400.5530 or live chat on our company website. 

What’s Happening? 

Identity criminals are using spoofing technology to make their phone calls look like they are coming from your actual bank. They can even make the number on your caller ID match the one on the back of your debit card. To make the bank spoofing scam call feel real, they might read back your exact account balance or your account number to prove they are official. 

Once they have your trust, they turn up the pressure. They will claim your money is at risk and that you must immediately move it to a secure or safe account to protect it. This is a trap. That “safe” account is actually controlled by the scammer. Since they use high-pressure tactics, it can lead to a state of crisis paralysis, where it becomes hard to think clearly and spot the scam. Remember: a legitimate bank will never ask you to move your money to another account to keep it safe. 

What They Want 

Scammers use these high-pressure tactics to gain total access to your financial life and your identity: 

• Your Money: They want you to voluntarily transfer funds to accounts they control.  
• Sensitive Identity Information: They are looking for your usernames, passwords or multi-factor authentication codes. 
• Control of Your Accounts: By spoofing your bank, they aim to gain the access needed to drain your accounts or lock you out of your digital life. 

How to Protect Yourself from Bank Spoofing Scams 

• Switch to Passkeys: Use passkeys whenever possible; they are more secure than passwords because they are unique to your device and cannot be “phished” or stolen by a caller. 
• Set Up Multi-Factor Authentication: Always enable MFA on your financial accounts to add an extra layer of security. 
• Don’t Click or Call Back: Never click on unsolicited links in texts or emails, and never call the number provided in a suspicious message.  
•  Hang Up and Verify: If “your bank” calls and asks you to move money, hang up. Call the bank back using a verified number from the back of your physical card or their official website. Do not Google the number, as criminals often buy web ads promoting a fake customer service number and a spoofed website that looks like the real thing. 
• Protect Your Credentials: Remember that legitimate banks will never ask for your password or username over the phone. 

Contact the ITRC 

If you feel like you’ve been targeted by a bank spoofing scam or moved money to what you thought was a secure account, don’t wait to take action. The Identity Theft Resource Center provides clear, step-by-step guidance to help you protect your identity. Our advisors are experts who provide free help and a plan to keep you safe. Contact the ITRC for free help at 888.400.5530 or live chat on our company website.