Caller who 'helps' you move your own money
Scammers tell Social Security beneficiaries that a bank employee is committing fraud and that the only way to protect their money is to transfer it. They may stay on the phone for hours and even coach you through a call with your real bank.
How it works
A caller says there is fraud or identity theft on your account and claims to be from your bank or a government agency. They may already know some of your details, which can make the call feel real. They keep you on the line, sometimes for hours, and may start a three-way call with your actual bank so you will unlock or move money. Then they tell you to transfer funds to another account 'to keep it safe,' load a barcode, or share account access. Social Security and other agencies will never help you move your money to protect it.
Red flags
- The caller will not let you hang up, or tells you to keep the call a secret.
- They offer to stay on the line while you call your bank.
- They want you to move money, load a barcode, or share account access.
- The call lasts a very long time and feels like they are walking you through every step.
What to do
- Hang up. Call your bank back yourself using the number on your card or statement.
- Never move money or share account access based on an unexpected call.
- Report the scam at ssa.gov/scam and at reportfraud.ftc.gov.
- If you already sent money or shared information, tell your bank right away and review the FTC's advice on what to do if you were scammed.
Where to report it
- reportfraud.ftc.gov — the FTC's report form.
- ic3.gov — the FBI's Internet Crime Complaint Center.