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Fake bank fraud alert texts: “Did you attempt a purchase? Reply YES or NO”

Got a text from your “bank” asking if you made a purchase or payment, reply YES or NO? How the fake fraud alert scam works, why the follow-up call sounds real, and what to do if you replied or moved money.

The text looks like a routine security check: “Bank Fraud Alert: Did you attempt an instant payment of $5,000? Reply YES or NO.” It names a real bank, the amount is alarming, and replying feels like the safe thing to do. It isn’t. Fake “fraud alert” texts about a suspicious purchase or a problem with your bank were among the most commonly reported text scams in 2024, a year when people reported losing $470 million to scams that started with a text (FTC).

How the fake fraud alert scam works

  1. The text. A message claims to be your bank’s fraud team and asks if you made a purchase or instant payment. The bank name and amount change from person to person, and scammers send texts “from” different banks hoping to guess yours (FBI).
  2. The reply. If you answer, you get a message saying a fraud specialist will contact you shortly (FBI IC3).
  3. The call. The caller says they’re from the fraud department. The number can appear to match your bank’s real support line, and they may already know your address or the last digits of your account (FBI).
  4. The “fix”. To “reverse” or “block” the fake payment, they talk you through changing details in your payment app and sending a transfer. That transfer goes straight to them (FBI IC3).
  5. The loss. Many people only realise when they check their balance afterwards (FBI).

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Warning signs

  • An unexpected text asks you to reply YES or NO, tap a link, or call a number to confirm a payment.
  • Pressure to act right now or your account will be locked or emptied.
  • A caller asks you to move money, “reverse” a payment, or send money to a “safe account”.
  • Anyone asks for a one-time code, PIN, password or remote access to your phone.
  • You’re told to change the email address or phone number linked to your payment app.

How to protect yourself

  1. Don’t reply to, tap links in, or call numbers in unexpected bank texts. If you think it might be real, contact your bank using a number or website you know is real (FTC).
  2. Check for the payment yourself in your bank’s app or website, opened directly, not from the text.
  3. Turn on multi-factor authentication for your bank and payment apps, and never read those codes out to anyone (FBI IC3).
  4. Remember: banks won’t ask you to transfer money between accounts to prevent fraud (FBI IC3).
  5. Check an unknown number with the free phone scam check, and see how to tell if a call is a scam.

If you already replied, called or paid

  1. Hang up and call your bank on the number on the back of your card. Ask them to stop or recall any transfer.
  2. Change your online banking and email passwords, and remove any email address or device you didn’t add.
  3. In the US, forward the text to 7726 (SPAM) so your carrier can block similar messages (FTC).
  4. Watch out for “recovery” offers afterwards. Those are scams too.

Where to report

Questions

The call came from my bank’s real number. Doesn’t that prove it’s real?

No. The FBI warns that scammers call from numbers that appear to match the bank’s real support line. Caller ID can be faked. Hang up and call the number on your card yourself.

They knew my address and the last digits of my account. How?

The FBI says scammers may already know personal details from past data breaches and use them to sound legitimate. Knowing your details doesn’t make them your bank.

I replied “NO”. Am I in trouble?

Not yet. Don’t answer the follow-up call, or hang up if it comes. Then call your bank on the number on your card and tell them what happened.

I sent money to “reverse” the payment. What now?

Call your bank’s fraud line straight away (the number on your card) and ask them to stop or recall the transfer. Then change your banking password and report it (links below).

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General information only, not legal or financial advice. ImposterWatch is operated by Cloud Investments FZE (UAE) and is not a background check or private investigator service.