Scam calls aren’t slowing down. In fact, Americans lose billions of dollars each year to phone scams, according to the Federal Trade Commission. And many of those scams start the same way: a sudden, urgent call claiming your money is in danger.
Related Page: The Top Scams and Fraud Threats to Watch for in 2026 (and How to Protect Yourself)
Your account has been compromised.
A wire transfer is pending.
Suspicious activity has been detected.
You need to act now.
It’s designed to make your heart race. That’s not accidental.
Let’s walk through exactly how to handle unexpected calls that claim your money is at risk — calmly, confidently, and safely.
Why Scam Calls About Your Bank Account Work
Scammers rely on emotion, not logic.
They create urgency.
They create fear.
They impersonate trusted organizations — your bank, the IRS, law enforcement, even a family member.
Modern spoofing technology allows criminals to make it look like your bank’s real phone number is calling. That’s why caller ID alone cannot be trusted.
Understanding this is powerful. Once you know their playbook, you’re far less likely to fall for it.
The Most Common “Your Money Is at Risk” Phone Scams
Here are a few versions we see most often:
1. “Suspicious Activity” on Your Bank Account
The caller claims there’s fraudulent activity and asks you to:
- Confirm your account number
- Provide online banking credentials
- Share a one-time passcode
- Move money to a “secure account”
No legitimate bank will ever ask for your password or one-time code over the phone.
2. Government or IRS Threat Calls
Someone claiming to represent the Internal Revenue Service says you owe money and must pay immediately to avoid arrest or asset seizure.
The IRS does not demand immediate payment by phone. They do not request gift cards, wire transfers, or cryptocurrency.
3. Tech Support or “Fraud Department” Transfers
The scammer transfers you to a second “department” to make it seem more legitimate. They may even keep you on the line while directing you to log into your online banking.
This is social engineering — and it’s very effective.
What To Do Immediately If You Get a Suspicious Call
When someone claims your money is at risk, pause. Breathe. Then follow these steps.
Step 1: Do Not Share Any Personal Information
That includes:
- Account numbers
- Online banking usernames or passwords
- Debit card numbers
- One-time passcodes sent to your phone
- Social Security numbers
If someone pressures you for these details, that’s your signal. End the call.
Step 2: Hang Up — Even If It Looks Legitimate
Do not press numbers to “opt out.”
Do not call back the number that called you.
Instead, hang up completely.
If you’re unsure whether the call was real, wait a few minutes. Then call your bank using the official phone number printed on your debit card or listed on the bank’s website.
If you’re a customer of Liberty Savings Bank, call the number on your card or visit one of our branches directly. We would much rather you double-check than risk your security!
Step 3: Monitor Your Accounts
Log in directly through your bank’s official website or mobile app — not through a link sent by text or email.
Review:
- Recent transactions
- Pending transfers
- External account links
- Profile contact information
If anything looks unfamiliar, contact your bank immediately.
Red Flags That a Phone Call Is a Scam
Keep this quick checklist in mind:
- The caller creates urgency and demands immediate action.
- They ask for secrecy.
- They request unusual payment methods (gift cards, wire transfers, crypto).
- They ask for passwords or one-time security codes.
- The story feels slightly off.
Trust your instincts. If something feels wrong, it probably is.
What If You Already Shared Information?
First — don’t panic. Acting quickly can limit damage.
Here’s what to do:
- Contact your bank immediately.
- Change your online banking passwords.
- Enable or confirm two-factor authentication.
- Place a fraud alert with one of the credit bureaus through IdentityTheft.gov
- Monitor your credit report closely.
The faster you act, the more options you have.
How to Protect Yourself from Future Scam Calls
Prevention isn’t complicated, but it does require awareness.
Use Account Alerts
Set up real-time alerts for:
- Large transactions
- Login attempts
- Profile changes
- Wire transfers
These notifications give you early warning if something truly happens.
Register on the Do Not Call List
You can reduce legitimate telemarketing calls by registering at DoNotCall.gov. While it won’t stop scammers entirely, it can reduce noise.
Talk About It
Scams thrive in silence. Talk to your family members, especially seniors and young adults, about common fraud tactics.
Why Community Banks Take Fraud Prevention Seriously
At a community bank, fraud prevention isn’t just policy. It’s personal.
We know our customers. We see you at the grocery store. We sit next to you at local events. When someone targets your hard-earned money, it matters to us deeply.
That’s why we encourage something simple: when in doubt, call us directly. Walk into the branch. Ask questions. There is never embarrassment in double-checking.
Scammers rely on isolation and urgency. We rely on relationships.
Stay Calm, Stay Connected
If you receive an unexpected call claiming your money is at risk, remember this: urgency is a tactic. You are allowed to slow the conversation down.
Hang up.
Call your bank directly.
Verify before you act.
Your money deserves protection. And so do you.
Here in our community, we look out for one another. If you ever feel unsure about a call, message, or email, reach out to us. We’re here to help — not just as your bank, but as your neighbor.
