Your loved one might be at the bank right now, attempting to send money, possibly to someone they don’t even know. The person on the other end could sound completely calm, or maybe a bit urgent. But there’s a chance that it’s a professional scammer who has given instructions on how to behave.
The FBI’s Internet Crime Report for 2025 shows that losses from internet-related crimes exceeded $20 billion. Additionally, the FTC warned that scams will remain the leading type of fraud, with estimated losses hitting $3.5 billion.
These figures are truly concerning. Yet, it often starts with just one phone call.
Warning Signs of Bank Fraud Families Should Know
Darius Kingsley, who focuses on consumer fraud at JPMorgan Chase, shared insights with me about how these scams unfold at banks, including how tellers can spot signs of trouble. He emphasizes the need for families to stay vigilant.
According to Kingsley, scammers typically create a sense of urgency and fear, often posing as trusted figures like law enforcement. “What they want to do is instill a sense of immediacy,” he explained, as many victims believe they’re speaking to police.
This fake authority can paralyze even the most cautious individuals. Scammers might mention real agencies or even name actual officers. Once panic sets in, they start issuing directives.
By the time a victim walks into a bank, the scammer may have scripted everything already. “They will prepare you,” Kingsley remarked, detailing how victims may be told to fabricate reasons for their withdrawals, like home renovations or family emergencies. Sometimes, victims are led to believe that their bank is somehow complicit.
Why Bank Tellers Ask Questions About Fraud
If a teller engages you while you’re trying to withdraw a considerable amount of money, it might feel intrusive. But Kingsley assures us that there’s a valid reason behind that. Most transactions are routine, as people frequently withdraw cash for various reasons.
Thus, bankers are trained to look for clues of potential fraud rather than treating every unusual request as suspicious. They might notice if someone seems anxious or is overly talkative on the phone. “We instruct our tellers to pay attention to individuals who seem jittery or unorganized,” he said.
Interacting at the counter could be crucial. This might be the last opportunity to stop a transaction before it happens, so if you get asked questions, it’s not personal. That moment could actually protect you.
What to Do If You Receive a Suspicious Bank Transfer Alert
Scammers often have a playbook. They aim for urgency, wanting their victims to react before they can think it through. So, if you notice a loved one needing privacy regarding financial matters or behaving in a hurried manner, take note.
Other signs to watch for include a loved one staying on the phone while going to the bank or refusing to clarify why they require cash. Also, cryptocurrency kiosks should be treated as red flags—if someone is following a phone directive to deposit cash, step in calmly.
Common Bank Fraud Scenarios
The landscape of scams is shifting. While some may picture a lone scammer, large networks are also involved, particularly overseas. Kingsley pointed out concerning operations in Southeast Asia where criminal groups exploit vulnerable workers.
This situation reveals that some of those making scam calls could be victims themselves, trapped in harsh conditions. Ties to organized crime complicate matters further, as these scams move money rapidly, often overseas.
How Families Can Combat Bank Fraud
Prevention is vital. Families should observe behavioral changes as potential red flags—not just look out for suspicious emails or links.
Scammers thrive on urgency, so create a family rule about money transfers. If a request seems off, take the time to check. It’s better to be cautious than to rush into a decision.
After Being Scammed: Immediate Steps to Take
If you suspect that either you or a family member has been duped, don’t hesitate. Acting swiftly is essential—delay can complicate recovery efforts.
“Your first step should be to contact your bank immediately,” advised Kingsley, as there may be options to freeze or trace any funds involved. Reporting the incident to law enforcement and the appropriate agencies can also help, even if it feels unlikely that you’ll regain lost money.
Protecting Yourself from Future Bank Fraud
Implementing specific safety measures can significantly reduce the risk of falling prey to scammers. For instance:
1) Enable Alerts
Ensure that your bank account has fraud alerts activated for large transactions.
2) Use Two-Factor Authentication
Activating two-factor authentication on your banking and financial apps adds an extra layer of protection.
3) Register Trusted Contacts
Consider designating a trusted contact with your bank to receive alerts about unusual activities.
4) Establish a Family Codeword
Having a secret code for urgent money requests can help verify legitimacy.
5) Minimize Personal Data Exposure
Scammers craft believable narratives when they have deep personal information.
6) Delay Urgent Requests
Instruct family members to avoid making hasty financial decisions over the phone.
7) Respect Privacy Requests
If a loved one insists on secrecy regarding urgent financial matters, be cautious.
8) Report Any Scams
Always report any fraudulent activity to your bank and law enforcement.
Final Thoughts
Falling for a scam doesn’t reflect poorly on you. Scammers exploit fear and urgency, often sounding authoritative. The best strategy for families might be to discuss these warning signs beforehand. Emphasize that no one should feel pressured to act without validation—because by the time someone is at the bank counter, it might already be too late.
