Receiving an unexpected phone call saying your money is in danger can be alarming. Scammers rely on that fear to pressure people into acting quickly — often before they have time to verify what’s really happening.
Knowing how these calls work and what legitimate organizations will and won’t do can help you protect your finances.
How These Scam Calls Typically Work
Scammers may call claiming there has been suspicious activity on your account, that your money is at risk, or that immediate action is required to prevent a loss. They often pose as representatives from banks, government agencies, or well-known companies to sound credible.
The caller may insist you move money, share account details, provide verification codes, or follow specific instructions right away. Urgency is a key part of the scam and the goal is to keep you from pausing or double-checking the situation.
Red Flags to Watch For
Be cautious if a caller:
• Contacts you unexpectedly about a problem with your money
• Pressures you to act immediately
• Asks for account numbers, passwords, or one-time codes
• Tells you not to contact anyone else
• Instructs you to move money to a “safe” account
Legitimate organizations will not use fear or secrecy to control your actions.
What Legitimate Organizations Will Do
Banks and government agencies understand the importance of security and verification. They will not demand immediate action over the phone or ask you to share sensitive information during an unsolicited call.
If there is a real issue with your account, you will always have the opportunity to verify it using official contact information you trust.
How to Protect Yourself
If you receive a call claiming your money is at risk, pause before responding. Do not provide personal or financial information, and do not follow instructions to move funds.
Hang up and independently verify the claim by contacting the organization directly using a phone number you know is legitimate. Taking a few extra minutes to confirm can prevent significant financial loss.
If you believe a scammer may have contacted you about your GCSB account, reach out to us right away. We’re here to help you review your account and take the appropriate next steps.
Trust Your Instincts
Scammers depend on fear and urgency. If a call doesn’t feel right, that’s often a sign something is wrong. Slowing down and verifying information is one of the most effective ways to protect yourself.
Fraud prevention starts with awareness, and GCSB is committed to helping you stay informed and protected. If you ever have questions or concerns, don’t hesitate to contact us.