The "safe account" scam: your bank will never ask you to move your money
This is one of the most costly scams in Australia, and it works on capable, careful people because it arrives wearing the uniform of safety. The caller isn't asking you to send money to a stranger. They're asking you to protect your own money — which feels like the responsible thing to do. That inversion is the whole trick.
Every part is engineered. There's a threat (someone is taking your money), a rescuer (the fraud team), urgency (right now, while I'm on the line), and a reasonable-sounding action (move it somewhere safe). The "secure account" belongs to the scammer. Once the transfer clears, the money is gone.
Why it fools careful people
- They may know some of your details. Data breaches mean a scammer can open with your name, your suburb, or the last four digits of a card. This feels like proof. It isn't — it's a script prop.
- The number can look real. Caller ID is easily spoofed, so your phone may display your bank's genuine number. The number a call comes from is never proof of who is calling.
- They keep you on the line. Staying connected stops you from ringing anyone else to check. If a caller resists you hanging up to call back, that alone is the scam revealing itself.
What to do
Hang up. You don't need to be polite, and you don't need a reason — just hang up. Don't transfer anything, don't install any software they suggest, and never read out a code from a text. Then, from a different phone if you can, call your bank on the number printed on the back of your card. If there was ever a real problem, you'll reach the real bank that way.
If a family member has set you up with a scam-checking service, you can also describe the call to it by text and get a second opinion in seconds — a phone call can't be forwarded, but it can be described.
If you already moved money
Act immediately, and don't be embarrassed — these scripts are built by professionals to catch sharp, sensible people. Call your bank straight away on the number from your card and tell them it was a scam; the faster they know, the better the chance of stopping the transfer. Then call IDCARE on 1800 595 160, Australia's free national identity and cyber support service, and report it to Scamwatch. You are not in trouble, and you are far from alone.
Common questions
Will my bank ever ask me to move money to a safe account?
No. No genuine bank will ever ask you to move your money to a safe, secure or holding account. That request is the scam itself. A real bank protects a threatened account at their end; they never need you to transfer the balance anywhere.
The caller knew my name and some account details. Doesn't that prove it's real?
No. Scammers often have some of your details from data breaches, and use them to sound convincing. Knowing your name or the last digits of a card proves nothing. Judge the call by what it asks you to do, not by what the caller seems to know.
The number on my phone showed my bank. Can I trust it?
No. Caller ID can be spoofed, so a scam call can display your bank's real number. If you are unsure, hang up and call the bank yourself using the number on the back of your card. If the call was genuine, you will reach them that way too.
What should I do if I get one of these calls?
Hang up. Do not transfer any money, install any app, or read out any code. Then call your bank on the number from your card to check. There is no genuine situation where hanging up and calling back will cause you harm.
How can my parent check a call like this without calling me first?
They can text, email or WhatsApp a scam-checking service like Is it a scam? describing what the caller said, and get a plain-English verdict in seconds. A phone call can't be forwarded, but it can be described, and the same checks apply.
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