Safe Account Transfer Fraud Alert Scam by SMS

How it looks by SMS, the red flags and what to do.

On SMS the scammer has only a few lines to work with, so they use a deadline, a threat or a prize and a link that must be tapped "now". Safe Account Transfer Fraud Alert Scam is one of the ways this shows up: A caller says your account is under attack and asks you to move your savings to a 'safe account' immediately. The account belongs to the scammer.

What safe account transfer fraud alert scam looks like by SMS

• A very short message with a deadline such as "today" or "within 24 hours".
• A shortened or oddly spelled link that does not match the real website.
• A request to call a number, install an app or share an OTP.

The scammer begins by reading out a few details about you, such as your name, a bank name or the last digits of a card, to prove they know you. Then they describe a fake attack: a login from another country, a loan being applied for, or a large transfer in progress. They sound hurried and a little frightened, so that you feel you are in a race against the hackers.

Red flags to check on the text message

• You are told to move money to a safe or temporary account.
• The caller says not to use the bank app or tell anyone.
• You must not hang up because hackers are listening.
• A loan or FD break is suggested to move more money.
• The message asks for an OTP, PIN, card number or password.
• It threatens blocking, arrest, disconnection or a fine unless you act at once.

What to do

1. Hang up. A bank will never ask you to move your money to another account.
2. Call your bank on the number printed on your card or passbook.
3. Check the account in the official app yourself.
4. Do not reply, do not tap the link and do not call the number in the message.
5. Open the official app or type the official website yourself to see if there is any real notice.
6. Paste the text into a scam checker (Safeavio Sentinel can check it) before you do anything else.

You can report suspicious SMS and calls on the Sanchar Saathi portal (Chakshu facility) of the Department of Telecommunications.

If money or a code is already gone

1. Call 1930 immediately and give the receiver account details and amount.
2. Call your bank on the number on your card and ask them to flag the transfer.
3. Report at https://cybercrime.gov.in with the call log and transaction proof.
4. Do not take more loans or send more money to 'recover' the first amount.

National Cyber Crime Helpline: 1930; report at cybercrime.gov.in.

Safeavio's Money Shield gives you a 'verify before you pay' checklist, trusted contacts and a family code word, so you can stop and ask someone before moving money on a caller's instructions. The scam check can review chat messages you paste. It does not block calls by itself, so hang up and call your bank on the number on your card.

Full guide: Safe Account Transfer Fraud Alert Scam: how it works, signs and what to do. Other channels: phone call, WhatsApp.

Questions