'Your account is compromised, move your money now.' Hang up.
A scam: the FTC says anyone telling you to move money to 'protect it' or asking for a verification code is a scammer, even if they say they're from your bank.
The check
Answer these honestly. A single "yes" to a warning sign is enough to stop.
- Is someone telling you to move or transfer money to keep it safe?The FTC: never move or transfer your money to 'protect it'. Your money is fine where it is.
- Are they asking for a code sent to your phone?The FTC says no caller, especially from your bank's fraud department, will ever ask for the verification code.
- Did they ask you to install software or an app, give remote access, or tap your card on your phone?The FBI warns never to let an unknown person who contacted you control your computer. The Dutch gang used an app that copied victims' card data to withdraw cash.
- Did they tell you not to tell your family, bank branch or police?The FBI says these callers keep victims on the phone and tell them not to contact anyone. That isolation is the scam.
- Do they want payment by wire, cash, crypto, gift cards or a courier?The FBI says officials will never ask for payment by prepaid card, cryptocurrency or courier.
- Is caller ID showing your bank's real number?That doesn't prove anything. The FBI says scammers spoof official phone numbers.
If it's happening right now
Hang up. Call your bank yourself on the number on your card or statement, not one the caller gave you. Don't move money, share codes or install anything. If you already did, call your bank's fraud line now.
How this scam works
A call, pop-up or automated message says there's fraud, a hack or suspicious activity on your account or computer.
Sometimes a 'tech support' agent first gets you to install remote-access software and look at your accounts.
Then someone posing as your bank's fraud team, and sometimes a 'government' official after them, says your money isn't safe and must be moved to a new 'safe' account, by wire, cash or crypto.
You may be told to keep it secret, to read out a verification code, or to install an app and hold your bank card to your phone.
Once the money moves, it's gone. The FTC notes your bank may not stop a transfer you were pressured into.
What AI changes
Dutch police say one 2026 gang used AI to make dozens of recorded 'bank' warning calls in different voices and scenarios, and the FBI says scammers now use AI to appear as officials on video calls.
What to do, step by step
- Hang up and call the number on your card.The FTC says to stop and verify by calling your bank, broker or adviser on the number on your statement.
- If you moved money or shared a code, call your bank immediately.Tell them it was a scam and ask them to stop or reverse the transfer. For a wire through a company like Western Union or MoneyGram, the FTC says to report it to that company right away.
- If you gave remote access, clean up the device.The FTC says to update your security software, run a scan, delete anything it flags, change your passwords and turn on two-factor authentication.
- If you sent cash by mail or courier, act fast.The FTC says to contact the US Postal Inspection Service at 1-877-876-2455 for cash sent by mail, or FedEx or UPS as soon as possible.
- Report it.To the FBI at ic3.gov and the FTC at ReportFraud.ftc.gov. If you're 60 or over, the Elder Justice Hotline (1-833-372-8311) can help you file.
How big this is
Real cases
- Netherlands. Police arrested two men over bank-helpdesk fraud: AI-made recorded calls warned of suspicious activity, a fake bank employee told victims to install an app and hold their card to the phone, and the card data was used to take cash. About 170 victims lost about €380,000 in three weeks. (NL Times) The case file → (NL Times)
- United States. The FBI warned that scammers posing as police and government officials, sometimes using AI on video calls, demand payment through prepaid cards, couriers, wires, crypto or cash at crypto kiosks. (FBI IC3)
- United States. The FBI described the 'Phantom Hacker' scam: fake tech support, then a fake bank, then a fake government official, each telling victims, many of them seniors, to move their savings to 'safe' accounts. (FBI IC3)
Where to report it
- Your bank's fraud line: the number on the back of your card or on your statement
- The FBI's Internet Crime Complaint Center: ic3.gov
- The FTC: ReportFraud.ftc.gov
- If you're 60 or over and need help reporting: the Justice Department's Elder Justice Hotline, 1-833-FRAUD-11 (833-372-8311)
Questions people ask
Would my bank ever call and ask me to move money to a safe account?
No. The FTC says anyone telling you to move money to protect it is a scammer, and that's always a scam.
The caller knew my name and account details. Doesn't that make it real?
No. Scammers often have some personal data. Caller ID can be spoofed too. Hang up and call the number on your card.
I read out the code they texted me. What now?
Call your bank immediately using the number on your card and change your passwords. The FTC says codes prove you are you, so sharing one can let a scammer log in.
Will my bank refund me if I made the transfer myself?
It may not. The FTC says bank accounts have fewer protections than credit cards and money sent in a scam may not be recoverable. Call your bank at once anyway; speed helps.
Can a 'government agent' really come to collect cash or gold?
No. The FBI says officials will never ask for payment by prepaid card, cryptocurrency or courier.
What's the Phantom Hacker scam?
The FBI's name for a three-step scam: fake tech support, then a fake bank fraud team, then a fake government official, all pushing you to move your savings.
Related
- AI voice clone scam call: what to do right now →
- AI scam texts: how to spot them and what to do (2026) →
- Is my boss really asking for gift cards or a transfer? →
Sources
- FTC: Never move your money to 'protect it.' That's a scam (Mar 5, 2024)
- FTC: Got a call about fraud activity on your bank account? It could be a scammer (Jul 2024)
- FBI IC3: 'Phantom Hacker' scams target senior citizens (PSA I-091223, Sep 29, 2023)
- FBI IC3: Scammers impersonating law enforcement and government officials (PSA I-091726, Sep 17, 2026)
- NL Times: Police arrest two suspects in AI-powered bank fraud (Oct 21, 2026)
- SecurityWeek: FBI cybercrime losses neared $21 billion in 2025
- FTC: What To Do if You Were Scammed
Spot an error or something out of date? Tell us; corrections are made and logged. Written with AI assistance from public sources; every fact checked and approved by Colin Balfe. General information, not legal, medical or financial advice.