The UBC Cybersecurity team has received multiple reports of a phishing scam targeting faculty and staff, known as the "Press 1" scam. Attackers use spoofed phone numbers, including UBC numbers, to trick individuals into revealing sensitive information. "If you press 1, you are connected to a scammer posing as an employee of the impersonated organization. The scammer may attempt to extract personal or financial information from you." The advisory warns: "Do not press any number: Scammers use this trick to connect you to their fraudulent call center."

UK Finance warns of "fake automated calls claiming to be banks and card companies." "With this scam, customers will receive an automated call claiming that a suspicious transaction has occurred on their account and needs to be verified. The customer is then prompted to press a number on their phone to be taken through to a supposed ‘agent’, who is actually a fraudster." The alert stresses that "banks or the police will never contact you asking for your online banking password or for you to transfer money to a new account for fraud reasons" and that even if they ask you to enter PIN or password via the keypad, "this is a scam."

The Federal Trade Commission’s phone scam guidance says: "When you get a robocall, don't press any numbers to let you speak to a live operator or remove you from their call list." It explains that scammers use calls to trick people into sending money or giving financial information. For victims whose bank accounts are accessed, the FTC advises: "Did someone make an unauthorized transfer from your bank account? Contact your bank and tell them it was an unauthorized debit or withdrawal. Ask them to reverse the transaction and give you your money back."

Wells Fargo describes "bank imposter scams" where fraudsters spoof the bank’s phone number and call customers. "These are all bank imposter scams. The goal is to steal your money or private account access information like your PIN, debit card, password, or one-time access codes." It warns that scammers often give "instructions to act 'right now' to avoid a loss" and may request remote access to your device or one-time access codes. Customers who have given information are told to "call us immediately" and to change their online banking password and monitor accounts for unauthorized transactions.

BankUnited’s guidance on suspicious calls from "your bank" lists red flags and actions to stay safe. It notes that scams often work by replacing normal habits with urgent instructions, and that victims are at risk when they follow directions such as giving passwords, PINs, one-time passcodes, moving money to a "safe" account, or clicking links. The article does not claim that merely pressing a keypad button allows a caller to empty an account; instead, it emphasizes hanging up, calling back on a trusted number, and never sharing sensitive information with unsolicited callers.

Texas Capital Bank warns about a "bank impersonation scam" that often begins with a phone call appearing to come from the bank’s official number. The caller claims to be from the bank’s fraud prevention team and may ask the victim to move money, open new accounts, or provide authentication codes. The bank states that "Providing one-time passcodes, security questions, login credentials or any sensitive information can result in immediate account takeover" and that once scammers have these details, "They can immediately transfer funds, change account settings, add authorized users or lock you out entirely."

One of the most common tactics is tricking you into **activating call forwarding**. By pressing a button, you unknowingly grant the scammer control over your phone’s call forwarding settings. This allows them to forward all incoming calls to another number—one that they control. In some variations of this scam, pressing a button might lead to a fake representative who asks for sensitive information like your bank account details, social security number, or credit card information under the guise of verifying your identity.

A Rossen Reports explainer on a "spoofing" bank scam warns that scammers can make calls or texts appear to be from your bank. The post notes that fraudsters may "Text or call you demanding immediate account access" and "Tell you to move money 'for security reasons'" or "Ask you to send money to yourself or a 'safe' account." The segment stresses that the bank itself cannot help if you voluntarily move your money based on instructions from impostor callers and urges consumers not to trust caller ID alone when someone claims to be from their bank.

This community bank blog explains SIM card swapping: scammers contact the victim’s phone carrier, claim the phone is lost and request a new SIM. Once activated, "the scammer will now receive all your text messages, calls, data, etc. This allows them to receive any special codes needed to access accounts and other apps and even your information." The article states that this scam "has impacted many people and left them with thousands of dollars stolen from their account", showing that account draining occurs after the attacker controls the phone and intercepts authentication codes, rather than from a single keypress during an unsolicited call.

Criminals are using sophisticated tools — including caller-ID spoofing, multi-person call scripts, and AI-enhanced audio — to pose as trusted financial institutions and pressure consumers into handing over access to their accounts. Across the U.S., victims report nearly identical experiences: a sudden call that appears to come from their bank, a warning that their account has been compromised, and a convincing “representative” demanding immediate action to “protect” their money. Within minutes, funds are gone. Consumer watchdogs say this type of attack — known as a *business impostor scam* — is now one of the fastest-growing financial crimes in the country.

An Instagram consumer protection post describes a scenario: "Your phone rings. It says your bank. A real voice says your account has been compromised. The caller asks for your PIN to verify your identity." It explains that "Scammers are using AI and other tech to figure out who you bank with. Then they spoof the phone number and claim there is a problem with your account." The warning highlights that giving PINs or other credentials over such calls enables fraudsters to access and drain accounts.

Bank of America’s scam prevention page warns that imposters "pose as bankers, advisors or other trusted figures using fake phone numbers, websites, emails and social media to steal your info." Once they obtain enough personal or banking information, "They may access your accounts, open new accounts in your name or make unauthorized purchases or money transfers." The bank highlights that criminals may use phone calls to convince victims to share verification codes or passwords, enabling rapid account access and transfers.

This article explains that "while scammers may not be able to directly access your bank account using just your phone number, they can exploit it as part of a larger scheme." It emphasizes that financial institutions use robust security measures and that gaining access "solely through your phone number is highly unlikely." The discussion covers how personal data can be combined with social engineering or other techniques to compromise an account, but does not indicate that a single keypad action such as pressing 1 during a call enables immediate, direct draining of a bank balance.

SCAM ALERT: Don’t Fall for This SMS Scam! Scammers are getting crafty with a new text message scheme that could drain your bank account. Here’s how it works: You get a text about a suspicious transaction. You reply confirming it’s fraud. A “bank representative” calls (it’s really a scammer). They claim it’s tied to an FBI investigation. They give you a debit card number to add to a payment app. You’re told to move your money to a “new account” using that card at an ATM. After the transfer, you’re told to delete the card number. **Your funds are GONE.**

The Evansville Police Department describes a trend of "bank spoofing scams" where callers pretend to be from a bank’s fraud department and use spoofed caller ID to match the actual bank number. They "press you for your social security number, card number and/or online login information" and may ask for a 6‑digit multi-factor authentication code sent by text. The police note that "With any of these pieces of information they can begin to gain access to your bank account and make fraudulent withdrawals" and urge people never to give out Social Security numbers, card/account numbers, online banking login information, or MFA codes over the phone.

I just learned that my sister's friend just lost her full bank account balance to a scam. Scammer calls, purportedly from bank, and has bank info. They said "we are going to text you a code and please read it back to us so we can mark your account." When she read it back, **they were able to drain the account**. NEVER engage with a caller who purports to help secure your account (credit card, checking, PayPal, etc). At a minimum, call the institution back.

A U.S. bank security explainer on spoofed calls (video reel transcript) describes "sophisticated spoofing calls" where people "say they are from your bank" and claim there is an issue with your account. The narration warns that scammers can use information harvested during such calls to initiate fraudulent transfers or payments very quickly through online or mobile banking. It stresses that legitimate banks will not ask you to provide full PINs, passwords, or one-time codes over the phone, and urges customers to hang up and call the official number on their card or the bank’s app instead of pressing keys and following instructions from the incoming call.

An Instagram post from a financial institution warns that "Bank impersonation scams can occur via email, social media, phone call or SMS and attempt to gain personal or banking information." It explains that scammers use these channels to trick victims into revealing details that let criminals access accounts and move funds, emphasizing that any unsolicited request for bank login, PIN, or one-time code should be treated as suspicious because it can lead to rapid loss of money once the scammers log in.

It seems simple, but this scam can lead to financial losses, unauthorized access to sensitive accounts, and even identity theft. Scammers often manipulate Caller ID to make it seem as though they’re calling from a legitimate source. By pressing a button when prompted during a call from a supposed service provider, victims may **activate call forwarding or connect to premium-rate numbers**, or be transferred to a fake representative who then requests bank details or one-time passcodes. Unless you initiated the call or are 100% certain of the caller’s authenticity, **never press buttons in response to unsolicited requests**.

This post from the Schertz Police Department warns about bank phone scams and notes that "Your bank will never ask for your online banking password, PIN, or one-time security codes over the phone." It advises people to be cautious if a caller pressures them and to "never provide personal or financial information to an unsolicited caller." The warning frames the risk in terms of information disclosure and coercion, not in terms of a keypad action alone enabling a scammer to instantly empty an account.

The calls lasted 13 seconds and 9 seconds and after that, they were in my bank account. I got the bank alert for a “forgotten password”. I went in and changed it. A top comment states: "They cannot access your bank account through a phone call; that is impossible. Perhaps they were already inside your account and used the calls as a diversion." Another reply notes: "Yes, they can if your **SIM is compromised**; they then gain complete control of your phone on another device," which can give access to SMS-based verification codes used to reset bank logins.

Your "bank" calls: a hacker is draining your account — move everything to a "safe account," fast. **That account is the scammer's.** Real banks will never ask you to move money to a different account to protect it. Victims who follow the instructions in these calls can have thousands of dollars moved out of their accounts within minutes, with the transfer authorized by the victim under false pretenses.

There’s a new scam that hides inside of ATMs and gas pumps so small you'd never know it was there. Once they get that combo, they can clone your card and walk to any ATM like it's theirs and **your money is gone in seconds**. When a scammer gets both your card number and your PIN, they can create a physical clone of your card, walk right up to any ATM, and drain your bank account. Because the PIN was used, many banks will assume you made the withdrawal or authorized it, making recovery difficult.

Let me save you 20 minutes… if someone from “your bank” ever calls you about 'fraud', tell them you will call them back using the number on your card. Your bank, the IRS, the Social Security Administration, Medicare, they're **never going to call you and demand that you verify yourself on the spot or click a link they just texted to you or move money to keep it safe.** That is a scam that we're hearing of more. You hang up and you call the number on the back of your credit card or on an official website, not a number they gave you.

It started with a fraud alert call. It ended in a near loss of everything. The sophisticated scam you need to watch for right now. The Jacksonville man received a call that appeared to be from his bank’s fraud department. The caller directed him to take steps on his phone and provide information to "secure" his account, nearly resulting in **his bank account being drained** before he realized it was a scam and contacted his bank directly. The report emphasizes that customers should hang up and call the bank using a verified phone number.