Payment app impersonation scams: pause before you send

Fast payment apps are convenient because a transfer takes only a few steps. Scammers use that speed by posing as a bank employee, a known business, or a person you care about. They create a problem and offer to walk you through the solution.

What the script sounds like

• There is suspicious activity and you must act now.
• You need to send money to a safe account.
• A test transfer will protect your balance.
• You must share a passcode to cancel a payment.
• You cannot hang up or the account will be locked.

Verify outside the conversation

Do not use the phone number, link, or instructions provided by the caller. Open the official app yourself or call the number on your card. If the message claims to come from a friend or relative, reach that person through a contact method you used before.

If you sent money

1. Report the transaction to the payment app and your financial institution immediately.
2. Ask whether the transfer can be stopped or reversed.
3. Change any password or passcode you disclosed.
4. Save messages, phone numbers, transaction details, and timestamps.
5. Report the scam at ReportFraud.ftc.gov.