How to Protect Your Family from Bank Scams

JPMorgan Chase's Darius Kingsley talks about bank scams on the "Beyond Connected" podcast.

A loved one could be at a bank, ready to send money to a stranger. The voice on the phone may sound calm and official, but it could be a scammer.

The FBI says internet crime losses were over $20 billion in 2025. Impostor scams were the top type of scam, with losses of $3.5 billion.

These numbers are alarming. But the real story often starts with one phone call.

Learn how to stop impostor bank scams.

A scammer may coach a victim before they go to the bank, telling them what to say and how to explain the withdrawal.

Darius Kingsley talked to me on the CyberGuy Report podcast about what these scams look like from inside the bank.

Kingsley says scammers often create fear and urgency. They may pretend to be law enforcement or another trusted authority.

Scammers bring urgency to the situation. They may claim to be from law enforcement.

The fake authority can make people freeze. The caller may use a real agency's name or a real agent's name.

By the time a victim gets to the bank, the scammer may have a script ready. The victim may have been coached on what to say.

The scammer may give a fake reason for the withdrawal. The victim may be told to say the money is for a home renovation or a family member.

Some scammers tell victims the bank is part of the problem. This can make the scam harder to stop.

If a teller asks questions during a large withdrawal, it may feel nosy. But there is a good reason for it.

Bankers look for clues, such as someone who seems nervous or is on the phone. They may notice a story that does not add up.

The conversation at the counter may be the last chance to stop a scam. If your bank asks questions, do not take it personally.

Be careful with bank transfer alert texts. They might be scams.

Bank tellers may ask extra questions during unusual transactions because they are trained to spot signs of fraud.

Many people think of a scammer as one person in a basement with a phone. But the larger threat now includes organized scam centers overseas.

Kingsley pointed to scam compounds in Southeast Asia, where criminal groups use trafficked workers to target Americans.

Some scam callers may also be victims of brutal criminal networks. These operations can be tied to cartels or arms merchants.

The money from a scam does not stay in one place for long. Scammers often move it quickly through accounts and overseas.

The best time to stop a scam is before the money moves. Families need to notice behavior changes, not just strange emails or links.

Kingsley says relatives should pay attention when someone suddenly needs privacy around money or becomes defensive about a transaction.

Other red flags include a loved one staying on the phone while going to the bank or acting unusually stressed about a payment.

Crypto ATMs are another major warning sign. If someone is feeding cash into a crypto kiosk while on the phone, treat it like an emergency.

Beware of fake credit card account restriction scams.

Families can help stop bank scams by watching for sudden secrecy, urgent money requests, or loved ones who seem stressed or defensive.

If you think you or someone in your family sent money to a scammer, act fast. Waiting can make recovery harder.

Contact your bank immediately. That call is important because banks may be able to freeze or trace funds in some cases.

Kingsley also urges victims to file a police report and report the scam to the FBI's Internet Crime Complaint Center.

Reporting a scam may not bring the money back right away. But it helps law enforcement understand the problem and connect cases.

A few simple safeguards can make it harder for scammers to rush you or someone you love into a costly mistake.

Log in to your bank account and make sure fraud alerts are active. Use text, email, or app alerts for large withdrawals and card activity.

Turn on two-factor authentication for your bank, email, and financial apps. This extra step can block criminals who get your password.

Ask your bank or brokerage if you can add a trusted contact. This person cannot make transactions for you, but the bank may be able to reach them if something looks wrong.

Set a private family code word for urgent money requests. If someone calls claiming to be a grandchild or police officer, ask for the code word.

Scammers can sound more believable when they already know your name, address, or other personal details. A data removal service can help remove your information from people-search sites.

Scammers hate delays. They want victims to act before they think. So make one family rule: no wire transfer, crypto payment, or large cash withdrawal happens because of a phone call alone.

If a loved one says they cannot talk about a money request, take that seriously. Scammers often coach victims to hide the transaction from family or bank staff.

Call the bank immediately. Then file a police report and report the scam to the FBI's Internet Crime Complaint Center.

Falling for a scam does not make someone foolish. It makes them human. These criminals know how to use fear, shame, and urgency.

You can hear my full conversation with Darius Kingsley on the CyberGuy Report podcast.

Have you or someone in your family ever been pressured to move money by a caller who sounded official but turned out to be a scammer?

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Kurt "CyberGuy" Knutsson is an award-winning tech journalist who has a deep love of technology and gadgets.

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