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Fake bank call: "move your money to a safe account"

Someone rings claiming to be from your bank's fraud team and asks you to move money to a new "safe account".

How this scam works

You get a call, often in the evening, from someone who sounds calm and professional. They say your account has been hacked and your money is at risk right now. They may already know your name, your address, and even the last few payments you made. They tell you the only way to protect your savings is to move everything into a new "safe account" that they will set them up for you.

That safe account belongs to the criminal. Once the money leaves your account it is usually gone within minutes.

This is the single most expensive scam in the UK for people over 50, because it often takes an entire life savings in one go. The caller may keep you on the phone for an hour and tell you not to speak to anyone, including bank staff.

Your real bank will never ask you to move money to another account. Ever. Not to protect it, not to test it, not to catch a fraudster.

Warning signs

• They ask you to move money to a different account "for safety"
• They tell you not to discuss it with family, staff or the police
• They create urgency: "this has to be done in the next ten minutes"
• They ask you to stay on the line while you go to the bank
• The number on your screen looks like your bank's real number (numbers can be faked)

What to do

1. Hang up. You are allowed to hang up on anyone, no matter how official they sound.
2. Wait five minutes before calling anyone back, so the line fully clears.
3. Call 159 to reach your own bank safely, or use the number printed on your bank card.
4. Never move money because someone on the phone told you to.

Last updated 29 September 2026. Source: Action Fraud.