Someone Telling You What to Say to Your Bank? Stop the Transfer
A caller who coaches your answers to a bank or broker may be steering you around fraud safeguards. Stop and speak privately with your financial institution.
Back to AlertsIf a caller tells you how to answer your bank's questions—or asks you to hide the real reason for a withdrawal—stop. FINRA warned on September 30 that criminals are increasingly manipulating older investors into moving money out of investment accounts.
The caller may claim your savings are in danger, then coach you through transfers or purchases of gold or cryptocurrency. Those instructions help bypass safeguards meant to protect you.
PAUSE signs in this scam
- P — Pressure: An invented emergency demands a quick transfer.
- S — Secrecy or separation: You are told to conceal the situation from family or financial staff.
Safest response: End the conversation and call your financial institution using your account statement.
Learn all five PAUSE warning signs →
✅ What to do
Speak privately with your bank or broker and explain exactly what the caller requested. Talk with someone you trust before moving money. If you already transferred funds, contact your financial institution immediately.
Read FINRA's warning. Its Securities Helpline for Seniors is 844-574-3577.