THE FRAUD CODEXSCAM DETECTION
HIGH RISK

Bank Alert Text Scam

Fake fraud alert texts pretending to be from your bank, asking you to confirm transactions or click links to "secure" your account.

Losses: Part of $330 million in bank impersonation losses (2024)
Targets: Bank customers
Updated: 2026-01-06
Also known as: Bank Fraud Alert Scam • Account Verification Scam • Banking Smishing

1How It Works

You receive a text appearing to be a fraud alert from your bank: "[Bank Name] Fraud Alert: Did you authorize $534.98 at Walmart? Reply YES or NO, or call 1-800-XXX-XXXX" **Scenario 1 - You reply:** Scammer calls you pretending to be the fraud department and tricks you into revealing login info or transferring money. **Scenario 2 - You call the number:** You reach a fake call center that sounds legitimate. They "verify your identity" by collecting your banking details. **Scenario 3 - You click a link:** You're taken to a fake banking site that captures your login credentials.

How Scammers Make Contact

Text messages

2Warning Signs & Red Flags

  • Text asks you to click a link to verify your account
  • Reply number or call-back number doesn't match your bank's official number
  • Link goes to a website that's not your bank's official site
  • Text creates urgency — "Respond immediately"
  • Asked for information your bank would already have
  • Message has typos or formatting issues
  • You don't have an account at the bank mentioned

3Real-World Example

"I got a text saying someone spent $800 at Target on my debit card. I called the number in the text. They sounded professional, verified my address, then asked me to confirm my card number and PIN to 'block the fraudulent card.' The next day, $3,000 was withdrawn from my account."

— FDIC Consumer Alert

4How to Protect Yourself

  • Don't click links in texts claiming to be from your bank
  • Call your bank using the number on your card or official website
  • Real fraud alerts from banks let you reply with a simple YES/NO and nothing more
  • Don't call phone numbers in text messages
  • Set up fraud alerts through your bank's official app
  • Know what real alerts from your bank look like

5What To Do If You're a Victim

  1. 1If you gave login info, change your password immediately
  2. 2Contact your bank's real fraud department using the number on your card
  3. 3Enable two-factor authentication
  4. 4Monitor your accounts for unauthorized transactions
  5. 5Report to FTC at ReportFraud.ftc.gov
  6. 6Consider a credit freeze if personal info was shared

Report This Scam

FTC Report Fraud FBI IC3 Identity Theft

?Frequently Asked Questions

What is Bank Alert Text Scam?

Fake fraud alert texts pretending to be from your bank, asking you to confirm transactions or click links to "secure" your account. You receive a text appearing to be a fraud alert from your bank: "[Bank Name] Fraud Alert: Did you authorize $534.98 at Walmart? Reply YES or NO, or call 1-800-XXX-XXXX" **Scenario 1 - You reply:** Scammer calls you pretending to be the fraud department and tricks you into revealing login info or ...

How common is this type of scam?

Bank Alert Text Scam is classified as a high risk threat. Reported losses: Part of $330 million in bank impersonation losses (2024). This primarily targets Bank customers.

Can I get my money back?

Recovery depends on how you paid. Credit card payments may be reversed through chargebacks. Wire transfers and cryptocurrency are rarely recoverable. Report immediately to your bank and file complaints with the FTC at reportfraud.ftc.gov and FBI IC3 at ic3.gov.

How do I report this?

Report to the FTC at reportfraud.ftc.gov. For internet crimes, file with FBI IC3 at ic3.gov. For identity theft, visit identitytheft.gov. Also contact your local police and your bank.

Sources & References

FDIC: Banking ScamsFTC: Bank Text Scams

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