How bank impersonation works
In a bank impersonation scam, a caller or text message claims to be from your bank's fraud or security department. They say suspicious activity or a fraudulent transaction has been spotted on your account and that they are calling to protect your money. The caller ID or sender name may be faked to match your real bank.
To stop the supposed fraud they tell you to move your money to a new safe account, or to read out a one-time code, TAN or password so they can cancel a transaction. In reality this lets them take your money or approve their own transfers.
Why it works and who is targeted
The scam works because the caller appears to be on your side, warning you about fraud rather than asking for a favour. That framing lowers suspicion, while urgency and the fear of losing your savings push you to act before you think. A spoofed number that matches your bank makes the call feel verified.
Anyone with a bank account can be targeted, and scammers often have some real details about you from data leaks, which makes them sound legitimate. Action Fraud and the BSI both stress that no genuine bank ever asks you to move money to a safe account or to share a one-time code.
Warning signs in detail
The clearest warning sign is any request to move money to a safe or holding account, or to read out a one-time code, TAN, PIN or password. No real bank needs these from you, because it can stop fraud from its own side. Pressure to act immediately and instructions to keep the call secret are also red flags.
Be suspicious of calls or texts that ask you to confirm a payment you did not make by sharing a code, or that send a link to log in. A matching caller ID or bank name proves nothing, since both can be spoofed.
How to protect yourself and what to do
If you get such a call or message, do not act on it. Hang up, wait a moment, and call your bank back on the number printed on your card or statement to check. Never move money to a new account on someone's instruction over the phone and never share a one-time code, TAN, PIN or password with anyone, including a caller who claims to be your bank.
If you have already shared a code or transferred money, contact your bank immediately on its official number to freeze the account and try to recall the payment, then report it to the police. In the UK report to Action Fraud, and in Germany to the police and the BSI; acting fast gives the best chance of recovering funds.
