Bank impersonation scams continue to be one of the costliest types of fraud affecting both businesses and consumers. In a recent consumer alert, the Federal Communications Commission (FCC) warned that scammers are increasingly posing as banks through phone calls and text messages attempting to steal money and personal information. Victims are often pressured to act immediately under the guise of protecting their accounts. 

According to the FCC, scammers may:  
  • call or text with fake fraud alerts. 
  • ask for account details. 
  • request security codes.  
  • claim funds must be moved to a "safe" account.  
Some scams become even more convincing by pretending to involve government agencies or fraud investigations.  

The FCC emphasizes that legitimate banks will never call or text and instruct you to move your money to protect it. If you receive a suspicious call, they recommend that you:  
  • hang up and contact your bank directly using a trusted phone number from your account statement, debit card, or the bank's official website.  
  • never share account numbers, passwords, PINs, Social Security numbers, or security verification codes with unexpected callers or texters.  
  • exercise caution when clicking links in unsolicited text messages.  
  • use call-blocking tools when available. 
Read the FCC's complete consumer alert on bank impersonation scams at fcc.gov.

Staying informed is one of the best ways to protect yourself from fraud. If you receive a suspicious call, text, or email claiming to be from your bank, stop, verify the request independently, and contact your financial institution directly before taking any action.