Slow Down Before You Share
Fraud prevention reminder: Scammers often pretend to be from a bank, credit card company, government agency, or even the Federal Trade Commission to create panic and pressure people into sharing sensitive information.
Imposter scams continue to be one of the most common ways criminals steal money and personal information. These scams work because they feel urgent, convincing, and personal. A fraudster may claim there is a suspicious charge, a compromised account, or a government investigation designed to make you react quickly before you have time to think.
A Common Scenario
You receive a call that appears to be from your bank or credit card company. The caller says there is a bogus charge on your account. You panic—and that is exactly what the scammer wants.
Before you do anything, stop and verify. Hang up and contact your bank or credit card company using a trusted phone number, such as the number on your statement or the back of your card. Do not use a phone number provided in a text message, email, pop-up, letter, or by the caller.
How the Scam Escalates
If you stay on the line, the fraudster may claim they need to transfer you to the Federal Trade Commission, or another government agency, for additional help. The next person may say they found suspicious activity on another card or bank account. They may ask for your debit card number, an online banking username, a password, or a code sent to your phone.
That code may look harmless, but it can give scammer access to your account or allow them to add your card to a digital wallet. Once they ask for login credentials or verification codes, the red flags should be flashing.
Red Flags to Watch For
- A caller says your bank needs to transfer you to the Federal Trade Commission or another government agency.
- Someone asks for your full account number, debit card number, password, PIN, or online banking credentials.
- Someone asks you to read back a one-time passcode or verification code.
- You are pressured to act immediately, move money, or keep the conversation secret.
- The phone number, link, or contact information came from an unexpected text, email, pop-up, or letter.
What Banks and Credit Card Companies Will Not Do
Banks and credit card companies may contact customers about possible fraud, but they will not transfer you to the Federal Trade Commission. They will not ask you to provide information they already have, such as your full account number. They will not ask for your online banking password, and they will not ask you to share security codes to “help close the case.”
How to Protect Yourself
- Slow down. Scammers rely on panic and urgency.
- Hang up and call your bank directly using a trusted number.
- Do not click links or use phone numbers from unexpected messages.
- Never share passwords, PINs, account numbers, or one-time passcodes.
- If something feels off, say: “I will check into that and call my banker.”
Bank imposters, government imposters, and FTC imposters are successful when people respond too quickly and do not verify the source. Stay vigilant, pause before sharing information, and help slow down criminals trying to take your hard-earned money.