Scam awareness
Fake "fraud department" bank calls
A caller claims to be your bank's fraud team and tries to move your money "to keep it safe."
Reviewed September 2026
Warning signs
- A caller says there's suspicious activity and they need to "protect" your money.
- They ask you to move money to a "safe account," or read out a code texted to you.
- They ask for your full PIN, password, or card details.
- They tell you not to discuss it with branch staff.
What to do
- Hang up. Then call your bank using the number on the back of your card.
- Your real bank will never ask you to move money to a "safe account."
- Never read out a one-time security code to anyone who phoned you.
- Take your time — a genuine bank is happy for you to call them back.
A real example
George's 'bank' called about fraud and asked him to move his savings to a new account for safety. He hung up and called the number on his card — the bank confirmed it was a scam.
If it already happened
- Call your bank immediately on their official number to freeze accounts and report it.
- Change your online banking password from a device you trust.
- Report it to the FTC (links below).
Reassurance: being targeted is not your fault, and it happens to careful people every day. Acting quickly helps.
The phrase “move your money to a safe account” is one of the clearest signs of a scam. Your real bank will never ask you to do that.
Report it or get help