The FBI is warning consumers about a growing phone scam that has drained millions of dollars from victims by using spoofed phone numbers to impersonate banks and law enforcement agencies.
Federal officials said scammers are using a tactic known as spoofing, which allows callers to manipulate caller ID systems and make fraudulent calls appear as though they are coming from trusted institutions.
According to reports, more than 191,000 spoofing incidents were reported in 2025, with total losses exceeding $215 million as criminals increasingly target bank customers across the US.
The scam typically begins with a caller posing as a representative from a bank, financial institution or federal agency such as the FBI while claiming a victim’s accounts or assets are in danger.
Scammers then pressure victims into transferring funds into other accounts or sending money through digital payment services including Zelle under the belief their money must be protected immediately.
“They are already frazzled, and when they are making these decisions, the criminal then starts to rush them more,” FBI special agent Robert Richardson from the Chicago field office told ABC7.
“The more they are rushed, the more decision-making they make last-minute,” Richardson said while discussing how scammers create panic and confusion during the phone calls.
Investigators said criminals often increase credibility by obtaining personal financial information through data breaches, dark web marketplaces or physical theft involving discarded financial documents and records.
Some victims told ABC7 the callers possessed sensitive account information including bank balances, routing numbers, account numbers and details involving recent financial transactions.
According to reports, scammers have impersonated major financial institutions including Chase Bank and Huntington Bank, as well as federal law enforcement agencies, including the FBI itself.
Representatives from Chase urged customers not to respond to unsolicited requests involving money transfers, banking credentials or access to computers and financial accounts.
“Banks and legitimate companies won’t make these requests, but scammers will,” Chase said in a statement discussing the growing number of spoofing-related fraud schemes affecting consumers nationwide.
Cybersecurity experts warned that recovering stolen funds can become difficult when victims voluntarily transfer money, even if the transactions occurred after false claims or fraudulent threats from callers, per Inc.
The Federal Deposit Insurance Corporation’s Office of Inspector General said warning signs of scam calls include demands for immediate action, urgent threats and requests for sensitive personal or financial information.
“Banks, companies, and government agencies will not call or send unsolicited correspondence asking for sensitive personal information,” the FDIC warned while discussing methods consumers can use to identify suspicious calls.
Federal officials advised consumers to treat unsolicited calls with suspicion, avoid sharing account information and independently verify phone numbers through official websites or contact information printed on bank cards and statements.
