Scam category

Banking & payment scams

Critical risk SMSPhoneEmail

Banking and payment scams impersonate your bank's fraud team via text or call, push you to 'verify' through a link, share a one-time code, or move money to a 'safe account'. Speed and authority are the main tools.

Last reviewed 2026-06-15.

How these scams usually work

A bank-impersonation scam usually arrives as an urgent text or call claiming fraud has been detected on your account. The 'fraud team' sounds calm and official and may already know basic details about you. You are pressed to confirm your identity through a link, read out a one-time code, install software so they can 'help', or move your money to a 'safe account' in your name. Each of these hands over access or funds. The urgency and the appearance of authority are designed to stop you pausing to verify.

What the scammers want

Online banking logins
One-time codes
Transfers to 'safe' accounts

Common red flags

Fake authority or official One-time code (OTP) request Remote access or screen sharing Urgency and pressure

What to do

Call the number on your card.
Never share OTPs.
Log in only through the official app.

What not to do

Do not move money to a 'safe account'.
Do not approve logins you didn't start.
Do not install remote-access apps.

Common scam messages in this category

Top scam types

Related trend reports

If you were affected

See our recovery guides and report through official channels via the reporting directory. Be wary of anyone offering to recover lost money for an upfront fee.

Official sources checked

CFPB - Classic warning signs of fraud and scams - High reliability
Canadian Anti-Fraud Centre - Fraudsters impersonating the CAFC - High reliability
FTC Consumer Advice - Imposter scams - High reliability

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Frequently asked questions

Would my bank ask me to move money to keep it safe?

No. A request to transfer to a 'safe account' is always a scam. Hang up and call the number on your card.

The caller knew my name and some account details - is it still a scam?

Possibly. Scammers often hold some personal data from breaches or earlier messages, and knowing details does not prove they are your bank. Hang up and call the number on your card.

What is a 'safe account' and why is it dangerous?

There is no such thing. It is an account the scammer controls, and a genuine bank never asks you to move money to keep it safe.