Bank/Payment Scam
A scam where someone impersonates your bank or a payment app and tricks you into authorizing a transfer or 'approving' a payment you didn't intend.
What Is This Scam?
A scam where someone impersonates your bank or a payment app and tricks you into authorizing a transfer or 'approving' a payment you didn't intend.
How This Scam Usually Works
- •A caller claims to be from your bank or payment app, often about 'fraud on your account'.
- •They create urgency and may already know some of your details.
- •They ask you to move money to a 'safe account' or 'approve' a transaction to 'reverse' it.
- •What you approve is actually you sending money to the scammer.
- •They may ask for an OTP or 'verification code' to complete it.
Common Warning Signs
- •Caller claims to be from your bank
- •Asks to move money to 'safe account'
- •Requests OTP
- •Asks to "approve" a transaction
What Scammers Commonly Say
- “'This is your bank's fraud team — your account is at risk.'
- “'Move your money to a safe account to protect it.'
- “'Approve this transaction so we can reverse the fraud.'
- “'Read me the OTP I just sent to verify your identity.'
Before You Act
Pause and check these before sending money, sharing details, or clicking anything.
- •Hang up and call back using the number on your card or official app.
- •Never approve a transaction someone talks you through.
- •Never share your OTP, UPI PIN, or net banking password.
- •Be suspicious of any caller who creates urgency about 'fraud on your account'.
Questions to Ask Yourself
- ?Did the caller ask me to move money to a 'safe account'?
- ?Am I being asked to share an OTP or approve a transaction?
- ?Did I verify the caller by calling back on the official number?
- ?Would my real bank ever ask me to do this?
What You Should NOT Do
- ✕Do not approve or authorize any transaction someone talks you through.
- ✕Do not share your OTP, UPI PIN, or net banking password with anyone.
- ✕Do not move money to a 'safe account' on a caller's instruction.
- ✕Do not install any app or grant screen access at their request.
What You Should Do Immediately
- •Hang up and call your bank directly using the number on your card or official app.
- •Ask them to stop/trace the transfer and freeze your card or account.
- •Raise a dispute for the transaction (e.g., UPI dispute in your payment app).
- •Change your internet banking password and UPI PIN if exposed.
- •Report to your country's cybercrime/fraud authority.
What Evidence You Should Preserve
- •The phone number that called you
- •Time and details of the call
- •Transaction IDs and reference numbers
- •The account/UPI ID you sent to
- •Any SMS or call records
Never upload passwords, OTPs, PINs, CVVs, seed phrases, or full banking credentials.
Payment / Account Protection Steps
- •Call your bank immediately — timing matters for transfer recalls.
- •Raise a UPI/payment dispute and request a hold on the beneficiary.
- •Freeze the card and reset credentials used.
Reporting Options
Report to your bank immediately using the number on your card, raise a dispute in your payment app, and report to your country's cybercrime authority. In India, call the 1930 helpline and file on cybercrime.gov.in. Include the phone number, transaction IDs, and the receiving account.
View Country Reporting GuideRecovery Considerations
Bank transfers and UPI/Zelle are very hard to reverse, but reporting immediately (and, in India, calling the 1930 helpline fast) can sometimes help freeze the beneficiary's funds. Recovery is never guaranteed.
High Risk of Recovery Scam
Scam victims are often targeted again by fake “recovery agents.”
- Anyone claiming “We can recover your money for a small upfront fee” is almost certainly a scammer.
- Recovery is never guaranteed. No legitimate service charges an upfront fee to retrieve stolen funds.
- Scammers buy victim lists — expect fake “hackers”, “officials”, and “lawyers” to contact you.
How GoCheckAI Can Help
GoCheckAI gives you the exact steps to contact your bank, raise a dispute, and report to the right authority for your country.
GoCheckAI does not guarantee recovery, does not act as a recovery agent, and will never ask you to pay someone to recover funds.
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Frequently Asked Questions
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