Someone you care about might be at a bank counter right now, preparing to send money to a stranger. The voice they’re hearing sounds calm, official, and urgent. This voice may belong to a professional scammer who has instructed them on what to say. According to the FBI’s 2025 Internet Crime Report, reported losses from internet crime exceeded $20 billion. The FTC reports impostor scams as the leading category, with losses reaching $3.5 billion. These figures highlight the threat, which often begins with a single phone call.
Recognizing Bank Scam Warning Signs
A scammer might coach a victim before they even enter the bank, advising them on what to say and how to explain their withdrawal. Darius Kingsley, Head of Consumer Fraud and Scam Prevention at JPMorgan Chase, discussed these scams on my CyberGuy Report podcast. He explained how scammers often create fear and urgency, posing as law enforcement or other authorities to make smart individuals freeze. They may cite real agencies or use real agent names to increase pressure.
Once a victim arrives at a bank, the scammer might have already prepared them with a script, including plausible reasons for their withdrawal, like home renovation expenses or family needs. In some cases, scammers even tell victims not to trust the bank, complicating the situation further.
Why Bank Tellers Ask Questions During Scams
When a bank teller asks questions during a transaction, it might feel intrusive, but there’s a reason. While most transactions are legitimate, tellers are trained to spot red flags, such as a nervous demeanor or inconsistent stories. This conversation could be crucial in stopping a scam before money is transferred.
Spotting Phone Scammers
Scammers are not always individuals working alone; many are part of organized scam centers abroad. These centers often use trafficked workers to target individuals, operating within criminal networks involving cartels and traffickers. Once money is sent, they quickly move it through various accounts, often across borders. Therefore, timing is critical in these situations.
Preventive Measures for Families
The best defense is awareness before money moves. Families should be alert to behavior changes, not just suspicious emails or links. Warning signs include someone needing privacy around money, rushing to the bank, or defensiveness about financial transactions. Crypto ATMs are another warning sign if someone is following instructions while using them. In such cases, calmly interrupt and help them contact their bank.
Steps to Take After a Scam
If you suspect that someone has sent money to a scammer, act promptly. Contact the bank immediately, as they may be able to freeze or trace funds, though this is not guaranteed. Additionally, report the incident to the police and the FBI’s Internet Crime Complaint Center at IC3.gov. Even if the money isn’t recovered, reporting helps law enforcement understand and address the problem.
Ways to Safeguard Against Bank Scams
- Activate bank alerts: Enable fraud alerts via text, email, or app for large transactions.
- Use two-factor authentication: Enable 2FA for bank, email, and financial apps to secure accounts.
- Set up a trusted contact: Designate someone your bank can contact if needed.
- Create a family code word: Use for emergency money requests to verify identities.
- Limit available personal data: Use a data removal service to reduce exposure.
- Delay urgent requests: Pause before money transfers, and confirm authenticity.
- Note secrecy demands: Be wary of those who ask for confidentiality with transactions.
- Report scams promptly: Alert your bank and file reports with law enforcement promptly.
Conclusion
Falling for a scam does not reflect folly but human nature. Scammers exploit fear, shame, and urgency, often sounding official to prompt immediate action. Prior conversations about warning signs and setting protocols can protect your family. Discuss these elements and ensure no one moves money under pressure. Hear more from Kingsley’s insights in my podcast at CyberGuyPodcast.com, where we further explore how scams unfold and what preventive steps families can take.