The fake bank advisor scam: how the call unfolds, step by step

The fake bank advisor scam, a form of bank impersonation scam, is a phone call in which a fraudster, posing as your bank, pushes you to approve transactions yourself. Those transactions empty your account. The method follows four stages: contact, alarm, extraction of a code or approval, then fraud. One rule neutralizes it: hang up and call the bank back through a channel you already use.

This article walks through each stage, first for individuals and then for companies, with the phrases to say and the mistakes to avoid.

How the fake bank advisor scam unfolds

Cybermalveillance.gouv.fr, the French national cybersecurity support service, describes a four-step sequence in its reflex sheet on the subject. It is worth knowing by heart, because every stage is a chance to stop.

1. Contact. The fraudster calls, presenting as an advisor or as the anti-fraud department. They often already know the victim's identity, address or card details. They can also spoof the bank's number, so the caller ID looks legitimate.
2. Alarm. They announce suspicious transactions in progress and ask you to confirm or “block” them urgently.
3. Extraction. They ask for codes received by text message, an approval in the banking app or the card's PIN. Sometimes they send a courier, real or fake, to collect the card.
4. Fraud. The codes or approvals let them add a beneficiary, make a wire transfer or pay with the card.

The trap is that the victim believes they are protecting themselves. They think they are canceling a fraud when they are authorizing one.

Why this scam works so well

In its 2025 activity report, published on March 26, 2026, Cybermalveillance.gouv.fr states that fake bank advisor fraud rose by 159%. It notes that this happens despite the sector's awareness campaigns. The press release also cites new variants: phishing with a fake number to cancel a card, and the use of WhatsApp.

The same document notes that, in some cases, subcontracted “field” teams are mandated. Fake couriers then collect payment cards at the victim's home. The scam therefore goes beyond the phone call alone.

Several psychological levers work together.

• Authority: the bank is an institution people obey.
• Urgency: the money is leaving “right now”.
• Good faith: the caller offers to help, which disarms suspicion.
• Personalization: the data the caller already holds serves as proof of identity.

That last point is central. Personal data from leaks gives the fraudster instant credibility. Knowing your name or address proves nothing. Our article on verifying a caller's identity explains why some questions are useless.

The fake bank advisor on the company side

Companies are not spared. Picture a finance manager who receives a call from a supposed bank advisor: “We are detecting abnormal wire transfers on your account. I am sending you a text message code to suspend them.” The code received actually approves a wire transfer or the addition of a new beneficiary.

The risk is higher when a single person can approve major transactions alone. The typical scenario therefore targets people with authority over the banking tools: treasurer, accountant, finance department.

The Cybermalveillance.gouv.fr sheet on fake wire transfer orders recommends a binding internal managerial approval for unexpected wire transfer requests. It also advises circulating clear procedures for authenticating the people who send requests. The logic is the same: no approval on the strength of a phone call alone.

One variant combines a fake advisor with a fake executive request. It is detailed in our article on CEO fraud and fake supplier calls.

What a real advisor never asks

According to Cybermalveillance.gouv.fr, an advisor from your bank will never ask you for:

• your password;
• confirmation codes, or to approve or cancel transactions in your app on the grounds of fraud;
• your card's PIN;
• to hand your card to a courier or anyone else.

This list fits on a card placed next to the phone. A request that appears on it is enough to end the call, whatever the caller's tone.

What to say and do during the call

The right reflex is to cut the call short without debate. Here are exact phrases.

“I would rather hang up and call my bank back on the usual number.”

“A bank does not ask me to approve a transaction in order to cancel it, so I will not do it.”

“If it really is urgent, you will understand that I check first.”

Then call the bank back through your online banking account, your branch or the number printed on your card, not the one the caller gave you. The full procedure is described in our article on the callback.

If you have already given a code or approved a transaction, Cybermalveillance.gouv.fr recommends several steps. Block the card without delay and change your online banking credentials. Alert the bank to ask for the funds to be returned, keep the evidence and file a complaint.

A checklist to keep by the phone

This grid can be reused as is in an internal sheet or a training aid.

1. Is the caller asking for a code, an approval or a card? If so, I hang up.
2. Are they pressing me on time? If so, I deliberately slow down.
3. Do they want me to stay on the line while I act? If so, I cut the call.
4. Have I called the bank back through a channel I know, and not through theirs?
5. Have I noted the time, the number displayed, the name given and what I was asked?
6. Have I told the bank and my security contact, even if I handed over nothing?

The last point matters. A failed attempt is still valuable information: it lets you alert colleagues before someone else is caught.

The role of advisors and customer-facing teams

Customers are increasingly exposed to these calls. Advisors therefore receive calls from worried customers, sometimes in the middle of an attempted fraud. They must know how to reassure, get the customer to hang up and quickly block the transactions.

They are also targets: a fraudster can call the branch pretending to be the customer, with the customer's personal data in hand. The question of who is on the other end of the line goes both ways.

A trained advisor knows how to tell a customer: “I will never ask you for a code over the phone.” They also know what not to do themselves: confirm sensitive information to an unverified caller. For institutions, the subject is explored further in our article on vishing training in the banking sector.

Common mistakes

• Calling back the number shown on screen or the one the caller dictates.
• Justifying yourself at length, which gives the fraudster time to counter-argue.
• Approving “just to cancel” an unknown transaction.
• Reporting nothing out of embarrassment. Our article on reporting a security incident helps you do it without shame.
• Believing that only individuals are targeted.

Practicing refusal under pressure

Knowing the rule is not enough, because the caller is trained to get around it. Trainers can have people practice the exchange. A persona played by an AI takes the role of the fake advisor, insists and gets irritated. The learner has to verify and refuse out loud. The debrief then shows what was said and what was missing.

This work is part of the approach described in our guide to security awareness training.

Frequently asked questions

How can you recognize a fake bank advisor?

You recognize them by what they ask, not by what they know. Any request for a code, an approval or the handover of a card is a warning sign. Urgency and insistence are others.

Can you be reimbursed after this scam?

Reimbursement is not automatic, because the bank examines the circumstances of the approval. Ask for it without waiting, keep all the evidence and file a complaint, as Cybermalveillance.gouv.fr recommends.

Can the number displayed be fake?

Yes. Number spoofing rose by 517% in 2025 according to Cybermalveillance.gouv.fr. A display in the bank's name therefore does not prove the caller's identity.

What should you do if the fake advisor has already collected my card or codes?

Block the card immediately, using the number on your bank's website or on ATMs. Then contact the bank to suspend the transactions, change your online banking access and file a complaint with all the evidence. For a company account, also warn your finance department.

To have your teams practice these refusals in a safe setting, request a Face Up demo.