Fake Bank Calls Push Victims to ‘Safe’ Accounts

A UK survey found that many people targeted by scams do not report them, especially when they have not lost money. It also identifies a common phone scam: callers impersonate banks, police, or government bodies and pressure people to move money into a supposedly safe account.

Key findings

• 42.7% of surveyed scam targets did not report the incident to their bank, police, or the platform involved.
• Among people who did not report, 47.2% said they had lost nothing and did not think reporting mattered; only 7.2% cited embarrassment.
• 60.5% of scam-targeted 18-to-24-year-olds reported receiving calls impersonating a bank, police, or government body.
• The callers' reported objective was to persuade targets to move money to a supposedly safe account, including one in the victim's own name.
• People aged 25 to 34 had the highest reported rate of financial loss, at 35.7% of those targeted by a scam.

Who’s being targeted

• Commonly targeted roles: All employees, Finance and accounts-payable teams, Employees authorized to make payments or transfers, Customer-facing staff.
• Affected industries: Banking, Financial services, Government, Law enforcement.
• Attack channels: vishing.
• Impersonated: A bank, the police, or the government.

Awareness takeaways

• Treat unexpected calls about money as suspicious. Hang up and contact the bank through a trusted number rather than continuing the call.
• Report scam attempts even if no money was lost, because reports can help authorities identify and disrupt repeat scams.
• Do not let urgency override verification. Stop and independently check any request to pay or transfer money.
• Report phishing emails and scam texts through the official reporting routes so the intelligence can be acted on.

Red flags to watch for

• Unexpected call about money
• Pressure to act immediately
• Request to move funds to a 'safe account,' including an account in the target's own name