THE BANK CALL SCAM: DON’T LET A FAKE BANKER TALK YOU OUT OF YOUR CASH

A phone call that sounds like it is coming from your bank can feel very convincing. But scammers are now using fake bank employees to persuade Arizona seniors to withdraw cash and hand it over to a stranger.

HOW THE SCAM WORKS

The scammer calls pretending to be from your bank.

They may tell you:

• Someone is trying to steal money from your account.
• Your account is in danger.
• You need to withdraw cash to protect it.
• Someone will come to collect the money for safekeeping.

That last step is the trap.

Your real bank will not send a stranger to your home to collect your cash.

RED FLAGS TO WATCH FOR

Be especially careful if the caller:

• Says your money is in immediate danger.
• Tells you to withdraw cash to protect your account.
• Says a government investigator is involved.
• Tells you someone will come to collect your money.
• Pressures you to act before you have time to think.

A real bank will never ask you to move your money to “protect” it.

WHAT YOU SHOULD DO

If you get a call like this:

1. Hang up. Don’t stay on the phone while the caller pressures you.

2. Do not withdraw cash.

3. Do not give anyone your banking information, PIN, password, or verification code.

4. Call your bank using the phone number on your bank card or statement.

5. Tell someone you trust what happened.

Remember: You do not have to make a financial decision while someone is on the phone pressuring you.

PETE’S BOTTOM LINE

Your bank may call you about a real problem. But you never have to trust the caller just because they know your name or some information about your account.

If the call makes you feel rushed, scared, or confused, hang up and call your bank yourself using a trusted phone number.

Slow down. Verify first. Protect your money.

SOURCE

Arizona Attorney General’s Office — Consumer Fraud & Scams

When in doubt, hang up and verify using a trusted phone number.

Scam-Proof Senior Call to Action

If you ever receive a call like this, stop before you act. Talk to someone you trust and verify the call independently.