Every day, someone could be poised to wire money to an unknown individual, believing the voice on the phone to be legitimate. This voice may sound calm and official but could very well belong to a scammer.

In 2025, the FBI’s Internet Crime Report noted that internet crime losses surpassed $20 billion. The FTC highlighted impostor scams as the leading scam category, with reported losses of $3.5 billion. These figures point to the significant impact of scams, often initiated with a single phone call.

For more information on detecting scams early and safeguarding yourself, visit CyberGuy.com, where millions trust CyberGuy for daily insights.

Bank scams often involve a scammer coaching the victim on what to say when withdrawing money. As Darius Kingsley from JPMorgan Chase explains, these scams often create a sense of fear and urgency, with scammers posing as law enforcement or trusted authorities.

By the time a victim reaches the bank, they’ve likely been given a script and a story to tell. Scammers might advise victims to fabricate reasons like a home renovation or family assistance to explain withdrawals.

Recognizing Scam Indicators at Banks

Bank tellers play a crucial role in spotting fraud. During large withdrawals, they may ask seemingly intrusive questions, but these inquiries help identify potential scams. Tellers look for nervous behaviors, phone conversations, or inconsistent stories as warning signs.

Another red flag is if a scammer suggests the bank is complicit, making the victim view friendly bankers with suspicion, complicating scam prevention.

How Scammers Operate

Modern scams often involve organized operations overseas. Kingsley describes compounds in Southeast Asia where trafficked workers are forced to participate in these scams, with their passports confiscated and buildings walled with barbed wire. These operations are linked to criminal networks.

Once money is wired, scammers move it swiftly through accounts, complicating recovery.

Family Awareness and Scam Prevention

Stopping a scam before money is moved is ideal. Families should watch for secrecy around money, rushed bank visits, or defensive behavior. Signs also include staying on the phone during bank visits or stress over transactions.

If a loved one is at a cryptocurrency ATM following phone instructions, intervene and inform the bank using the number on their card.

Actions After a Scam

If a scam is suspected, act quickly. Contact the bank immediately, as timely action can potentially freeze or trace funds. Reporting to the police and reporting to the FBI’s Internet Crime Complaint Center at IC3.gov is also crucial for law enforcement tracking.

Tips to Stay Safe

• Turn on bank alerts for activities like large withdrawals.
• Enable two-factor authentication on bank and financial accounts.
• Add a trusted contact to your bank accounts for alerts.
• Establish a family code word for verifying urgent money requests.
• Reduce personal information exposure through data removal services.
• Slow down urgent money requests and verify before taking action.
• Address secrecy seriously, as genuine authorities will not demand it.
• File a report with banks, the police, and IC3.gov if a scam occurs.

Discussing warning signs with loved ones and setting guidelines for handling money requests are important steps toward prevention.

For more on these scams and protective measures, listen to the full conversation with Darius Kingsley on the CyberGuy Podcast.

For straightforward ways to detect and avoid scams early, visit CyberGuy.com and receive the Ultimate Scam Survival Guide for free upon joining.