Imagine receiving a call from a person claiming to be from your bank’s fraud department. The caller knows your name, address and other personal information.  

They tell you there’s a serious problem with your account, your money is at risk and you need to act quickly.

You’re told that employees at your local bank branch may be involved, so you’re instructed not to explain to the teller why you’re withdrawing money.

After you withdraw the cash, you’re told a courier will pick it up to be investigated.

It may sound like you're following instructions to protect your money. In reality, you've been manipulated into handing it directly to a scammer.

This is a bank impersonation scam, also known as a bank imposter scam. Unlike some scams that focus on stealing passwords or account information, this scheme is designed to convince you to willingly give up your money.

Key Takeaways

• FNBO will never instruct you to withdraw cash and give it to a courier or another individual.
• FNBO will never ask you to move money to a “safe account” at another bank to protect your funds.
• Fraudsters may use real employee names and other personal information to make an imposter call sound legitimate.
• A sense of urgency and secrecy are major warning signs.
• If you're unsure whether a call is really from FNBO, hang up and contact the bank using a trusted phone number, such as the number on the back of your FNBO debit card or found on the bank’s website.

Turning the Bank into Part of the Story

Fraudsters know that people are more likely to trust a message when it appears to come from a familiar organization.

In cases reported to FNBO, individuals claimed to be calling from the bank's fraud department. They may use the name of an actual bank employee and spoof the bank’s phone number to make the call seem authentic.

One particularly concerning tactic is convincing customers that legitimate bank employees are involved in the scam.

The caller may say that the local branch is under investigation and employees cannot be trusted. The customer may be told to give the teller a fake story about the large withdrawal, like needing money for a down payment on a house or to help a grandchild buy a car.

This is an intentional part of the scam. The goal is to prevent the customer from talking with someone who might recognize what is happening and help stop the fraud.

Why Bank Imposter Scams Can Be Convincing

Bank imposter scams rely on social engineering — using trust, secrecy and urgency to influence someone's decisions.

Fraudsters spend significant time developing these tactics. It's their full-time job, and they know that fear about losing money can make people act quickly.

Urgency and Fear

A scammer may tell you that your account is under immediate threat to create panic and a sense of emergency. This may include pressuring you to stay on the line or to act immediately. 

False trust

In many of these scams, the fraudster will claim they are calling from the fraud department, to make you feel as though you can trust their instructions.

Secrecy

The scammer may tell you not to speak with branch employees, family members or friends. They may instruct you to keep the situation private or give someone a different explanation for what you're doing.

What Will Your Bank Never Ask You to Do?

It's important to understand that receiving a call from your bank about potential fraud isn't necessarily a sign of a scam. FNBO may legitimately contact customers to verify suspicious activity.

The distinction is in what you're being asked to do.

FNBO will never ask you to:

• Provide your digital banking credentials or passwords.
• Move money to a “safe account” outside of FNBO.
• Withdraw cash as part of a confirmed or suspected fraud investigation.
• Give cash to a courier or another person as a way to protect your money.

What to Do if a Scammer Calls Pretending to Be Your Bank

If you're not sure whether someone contacting you is really from your bank, give yourself time to stop and verify.

1. Hang up. You don't have to stay on the phone with someone simply because they claim to be calling from your bank. If the call is legitimate, you can contact FNBO directly to verify it.
2. Don't use the caller's contact information. Don't call back using a phone number provided during the conversation or sent by text. Instead, use a trusted number, such as the number on the back of your FNBO debit card or found on the bank's website.
3. Contact FNBO directly. Tell the bank what happened and what the caller asked you to do. You can also visit an FNBO branch to discuss the situation in person.

What to Do if You've Already Given Money or Information to a Scammer

If you've already shared information, transferred money or withdrawn cash as a result of a suspected scam, contact FNBO as soon as possible. The sooner you contact us, the sooner we can begin working with you.

And don't be embarrassed to tell the bank what happened.

Criminals are skilled at creating convincing situations and pressuring people into making decisions quickly. Providing the fraud department with as much information as possible can help the bank investigate the situation and determine what steps may be available to protect your accounts and remaining funds.

Depending on the circumstances, the bank may be able to take steps to attempt to recover certain funds or transactions.

Remember: Take time to pause and think. Scammers want you to believe you must act immediately. If a caller creates that sense of urgency, take a step back. A legitimate call from your bank shouldn't make you feel as though you've called 911.

Taking a few minutes to verify what's happening could help protect your money.