Frequently Asked Questions About Imposter Scams

An imposter scam occurs when a fraudster poses as someone you trust—such as a bank employee, government official, tech support representative, or even a family member—to trick you into providing account access, personal information, or money.

Legitimate banks will never call you to ask for your PIN, password, one-time confirmation codes, or Social Security number. If you receive such a call, hang up immediately. If you are concerned about an issue with your account, call the number printed on the back of your debit or credit card (or from a monthly statement you know to be bona fide (e.g. that appears on your account portal). 

Hang up immediately. Do not provide any information, even if the caller sounds convincing or creates a sense of urgency. Then contact your bank directly using a verified phone number (from your card or a recent statement) or visit a branch in person.

Not necessarily. Federal laws including the Electronic Fund Transfer Act (EFTA), the Fair Credit Billing Act (FCBA), the Truth in Lending Act (TILA), and the Fair Credit Reporting Act (FCRA) provide strong protections for consumers. In many instances, the bank is required to essentially act as the insurer against these types of losses.  Even if your bank initially denies your claim, you may have legal options to recover your losses. 

Scammers often target seniors because they may be more trusting of authority figures, less familiar with evolving fraud tactics, and more likely to have significant savings. The scams are also designed to create panic, which can affect anyone but may be especially effective against those who are isolated or unfamiliar with how modern banking communications work.

You should not share your passwords with others. There are, however, ways of making another person an authorized user or giving that person viewing access. 

Whether you decide to do so is a personal decision that depends on your individual circumstances. While authorizing another person to view or access the account can be helpful in some situations, it can also increase the risk of unauthorized access (by both outside fraudsters and by family members).  It can also raise sensitive questions about financial independence.

If you do decide to give a family member access, it is not a substitute for knowing your rights and following basic security practices.

If a creditor violates the notice procedures, you may recover $1,000 in statutory damages plus actual damages and fees. 

If you bring a declaratory action under the statute, a court can declare you not liable, enjoin collection, order deletion of credit reporting, and award costs and attorneys’ fees.

(The statute also allows the creditor to bring a debt collection action against the abuser.) 

This is not recommended. Scammers have been known to create fake customer service numbers that appear in search results. While Google has improved on this front over recent years, it is safest not to rely on phone numbers that you have looked up via internet search. Instead, use the phone number printed directly on your card, on your bank statement. Or visit your local branch in person. 

Never give account access information—including your PIN, passwords, confirmation codes, or Social Security number—to anyone who contacts you unexpectedly, regardless of who they claim to be. If someone says you need to act quickly to protect your money, that’s a red flag that you’re dealing with a scammer.