Scam library · Banking & payment apps · Phone calls · Seniors
'Safe account' bank transfer scam
A call from your bank's 'fraud department' says your account was hacked, or that a bank employee is under investigation. To protect your savings, you need to move them to a new 'safe' account, today.
The safe account belongs to the scammer. Once you transfer, the money is gone.
What the message looks like
From: Caller ID shows your bank's name
This is the fraud department. Your account has been compromised and an employee at your branch is involved. We need you to move your savings to a protected federal account.
Please don't discuss this with branch staff. An agent from the Treasury will call you next.
How this scam works
Scammers often work in layers. First someone from 'the bank' calls, then a 'federal agent' or 'FTC investigator' joins to confirm the story. They may tell you to keep it secret because the bank is compromised.
They might ask you to wire money, use a payment app, buy gold, withdraw cash for a courier, or deposit cash into a Bitcoin ATM. The FBI calls this the 'Phantom Hacker' scam when it combines tech support, bank and government impersonation.
Older adults lose the most to these schemes. The FBI reported that in 2024, people over 60 filed the most complaints and suffered the largest losses of any age group in its Internet Crime Report.
The single most important fact to remember: your bank will never ask you to move your money to protect it. No government agency will either. Once you know that rule, every version of this scam falls apart, however convincing the caller sounds.
Red flags
- Being told your money is at risk and must be moved.
- A 'safe', 'protected' or 'federal' account.
- Instructions not to tell bank staff or family.
- Multiple people from different agencies calling.
- Requests to wire money, buy gold, withdraw cash or use crypto.
How to tell it’s fake
- Hang up and call the number on the back of your card.
- Visit your branch in person and tell staff what happened.
- Talk with a trusted family member before moving money.
- Remember: no bank or agency will ask you to move money to protect it.
What to do if you clicked, paid or shared info
Don’t panic, and don’t blame yourself. These scams are built by professionals. Act quickly, one step at a time.
If you clicked a link or called back
- Hang up. Don't move any money.
If you paid
- If you transferred money, call your bank right away to try to recall it, and report to ic3.gov and ReportFraud.ftc.gov.
If you shared personal info, a password or a code
- If you gave remote access or account details, change passwords, get your device checked and ask your bank about extra protection.
Where to report and get help (U.S.)
If a message seems legit and you’re still not sure, get a second opinion before you act. Reporting helps stop scammers, even if money can’t be recovered. If you are in danger, call 911.
- Your bank or card issuer
Call the number on the back of your card or on your statement, not one from the message. Ask them to stop or reverse the payment and to watch the account. - Federal Trade Commission (FTC) · ReportFraud.ftc.gov
Report the scam and get a step-by-step recovery plan. - FBI Internet Crime Complaint Center (IC3) · ic3.gov
Report scams that happened online, especially if money was lost. Include phone numbers, websites and payment details. - AARP Fraud Watch Network Helpline · aarp.org helpline
Free, for anyone of any age: trained volunteers help you sort out next steps. 877-908-3360, Monday to Friday, 8 a.m. to 8 p.m. Eastern. - IdentityTheft.gov · IdentityTheft.gov
If you shared your Social Security number or someone opened accounts in your name.
How Gmork Scam Guard would warn you
Scam Guard runs in Chrome and Edge on your computer, so it can't hear calls. Many safe account scams start with a fake pop-up or email, and Scam Guard warns before you call the number or let anyone onto your computer. If a call seems legit, get a scam expert's opinion before moving a dollar.
Scam Guard can miss things, so the checks above still matter. See what it warns about and what it keeps private.
Questions people ask
- Would my bank ever ask me to move money?
- No. Banks don't ask customers to move money to protect it.
- What's the Phantom Hacker scam?
- An FBI-named scheme combining tech support, bank and government impersonators to make victims move savings.
- They knew my account details. Is it real?
- Scammers often have leaked data. Call your bank yourself.
- How can I protect my parents?
- Agree that any request to move money gets a call to you first.