Often yes. Scammers send fake fraud-alert texts (“Did you authorize a $500 payment? Reply YES/NO”). When you reply NO, a “fraud department” agent calls to “secure your account” — and talks you into moving money or handing over codes. Real banks don’t resolve fraud by having you transfer funds or read out one-time passcodes.
What this scam looks like
This one weaponizes a real feature: banks do send legitimate fraud-alert texts. Scammers copy the format exactly. The goal is to get you on the phone with a fake agent (or to have you call back a fake number). Once on the call, they create urgency — “we need to move your money to a safe account” or “read me the code we just sent to confirm it’s you.”
That code is usually a genuine login or transfer approval code — reading it out authorizes the thief.
Example is illustrative and de-fanged; links are shown broken so they can't be clicked.
Red flags to watch for
- You’re told to expect a call, or given a callback number, right in the text.
- The “agent” asks for a one-time passcode that was just texted to you — never share these with anyone, ever.
- You’re urged to move money to a “safe” or “holding” account — a real bank never asks this.
- Caller ID shows your bank’s name. Caller ID is easily spoofed and proves nothing.
- Pressure to act in the next few minutes “before the payment clears.”
What to do if you got one
- Don’t reply and don’t call the number in the text. If a call comes, hang up.
- Call your bank back using the number on the back of your card or its official app/website — not any number from the message.
- Never read out a one-time passcode or move money at someone’s phone instruction, no matter who they claim to be.
- Report the text (forward to 7726) and tell your bank so they can flag the impersonation.
- Not sure if an alert is genuine? Paste it into GotAScam, then verify inside your banking app.
Frequently asked questions
Genuine alerts ask you to confirm a charge, and that’s it. They never ask you to move money, share a passcode, or call a number to “reverse” a transfer. When unsure, ignore the text and open your banking app directly.
No — that information is often exposed in data breaches or guessed. Knowing a few details is a trust trick, not verification.
Act fast: call your bank immediately using the number on your card, change your online banking password, and ask them to review recent transfers and re-secure the account.
Not sure about a message you got?
Paste the exact text, email, or screenshot into GotAScam and get a clear verdict — Likely Safe, Uncertain, or Likely Scam — backed by live threat intelligence. It's free, and no sign-up is required for text checks.