FRAUD ALERT: HOW TO SPOT FAKE BANK CALLS AND PROTECT YOUR FAMILY BEFORE THE HOLIDAYS

🚨 FRAUD ALERT: HOW TO SPOT FAKE BANK CALLS AND PROTECT YOUR FAMILY BEFORE THE HOLIDAYS

With the holidays approaching, The806er is encouraging families to talk about financial scams, especially with older relatives whose retirement income and life savings could be at risk.

These scams often begin with a frightening phone call. Someone claiming to represent your bank says your account has been compromised, an employee is stealing money, or suspicious transactions require immediate action. The caller then offers to help you move your money somewhere “safe.”

That supposed solution is how they steal it. The new account, cryptocurrency wallet, or payment destination is controlled by the scammer.

A legitimate bank may contact you about suspicious activity, but it will never tell you to protect your money by:

• Transferring it to a “safe account” provided by an unexpected caller. • Buying gift cards and sharing the numbers or PINs. • Withdrawing cash and depositing it into a Bitcoin ATM. • Handing money to a courier supposedly collecting it for safekeeping. • Lying to a teller or keeping the transaction secret from your family.

“Don’t tell the teller what you’re doing. Just lie if they ask” is a serious warning sign.

Scammers give those instructions because an honest conversation with bank staff could expose the scheme. They may insist you stay on the phone while driving to the bank or claim employees cannot be trusted because they are involved in the fraud. Those tactics keep you isolated and under pressure.

If a teller asks why you are withdrawing money, explain the call and the instructions you received. That conversation could help prevent a loss.

A familiar number or voice does not prove a caller’s identity.

Scammers can manipulate caller ID so a call appears to come from your bank, a government agency, or a local number. Knowing your name or personal details also does not establish that someone is legitimate.

AI can imitate a loved one’s voice using a short recording, including audio posted online. A caller might sound like your child or grandchild and claim they were arrested, injured, or involved in an accident. Another person may then pretend to be a lawyer, police officer, or doctor demanding money.

Before paying, hang up and call your loved one using their saved number. If you cannot reach them, contact another trusted relative or friend to check the story.

For a suspected bank call, contact your bank using the number on your statement, in its official app, or on the back of your card. You can also visit a branch. Avoid numbers supplied by the caller. Never share passwords, PINs, or banking verification codes with an unexpected caller.

Families can prepare by helping older relatives save verified bank numbers and choose someone they can contact before making an unexpected payment. Make sure they feel comfortable asking for help, even if they have already sent money.

If money has been sent, act immediately.

Contact the bank, payment app, wire service, gift card issuer, or cryptocurrency provider involved. Explain the scam and ask whether the payment can be stopped, reversed, or refunded. Recovery is not guaranteed. Keep receipts, gift cards, messages, and transaction details. Change any exposed passwords and report the fraud to the Federal Trade Commission and local law enforcement.

Be cautious if someone later contacts you promising to recover the money for an upfront fee. That can be another scam targeting the same victim.

Check on your people. A conversation today could help protect the savings they spent a lifetime building.