The Federal Bureau of Investigation has issued a new warning to smartphone users nationwide as cyber criminals increasingly target citizens with fraudulent calls.
Officials said the attacks, which often involve impersonating financial institutions or government agencies, have already resulted in more than $262 million in stolen funds this year, with risks expected to rise during the holiday season.
“Be suspicious of unknown callers claiming to be from banks or companies,” said Lisa Martinez, an FBI spokesperson. “Do not trust caller ID. Hang up, verify the correct number, and call the organization directly.”
The FBI alert comes amid a surge in account takeover schemes in which attackers gain access to users’ bank accounts through stolen credentials.
Some of these attacks begin with emails or text messages requesting one time passcodes or passwords. Once obtained, criminals use the credentials to log in, reset account passwords, and take full control of financial accounts.
According to the bureau, phone calls pose the highest risk. Attackers often impersonate bank representatives, technical support agents, or law enforcement officers. “Companies generally do not contact customers to ask for usernames, passwords, or OTPs,” the advisory noted.
Cyber criminals have also developed methods to mislead users through search engines, manipulating results to present fake login pages. This tactic can trick users even if they attempt to verify the organization independently online.
Cybersecurity experts emphasize the growing sophistication of these scams. “Attackers exploit urgency to pressure victims into acting before they can think critically,” said Dr. Mark Chen, a cybersecurity researcher at Bitdefender.
“Whether it’s fraudulent transactions, hijacked accounts, or stolen credentials, the end goal is financial gain, often routed through cryptocurrency wallets.”
Dr. Chen noted that impersonation tactics have evolved beyond banks. “We’re seeing a rise in calls claiming to be from Apple, Google, or other tech companies. The advice remains the same hang up and verify directly through official channels.”
A survey conducted by Bitdefender across multiple countries found that one in seven consumers reported falling victim to a scam in the past year.
Delivery, shipping, and mail fraud were the most common at 21 percent, followed by credential phishing and account takeover at 19 percent. Notably, 25 percent of scams now occur over the phone, underscoring the FBI’s warning.
“The scale of financial losses is staggering,” Martinez said. “Once an attacker gains control, funds are quickly moved to criminal controlled accounts, and victims may be locked out of their own accounts.”
Law enforcement agencies recommend contacting financial institutions immediately to request a recall or reversal of unauthorized transactions.
Obtaining a Hold Harmless Letter or Letter of Indemnity may reduce financial losses, according to the FBI. Victims should also report incidents to the FBI Internet Crime Complaint Center at www.ic3.gov.
Residents in multiple states described receiving suspicious calls over the past month. Jennifer Lowe, a Chicago resident, said she received a call claiming to be from her bank asking for a one time code.
“The caller was very urgent and threatening,” Lowe said. “I hung up and contacted the bank directly. It turned out to be a scam, and I avoided losing money.” Similarly, in Florida, local police warned citizens about scammers impersonating officers.
These callers often spoof real numbers and threaten arrest unless fines are paid via gift cards or cryptocurrency. “They create a sense of panic to manipulate victims,” said Deputy Raul Hernandez of the Orlando Police Department.
Experts predict that cyber criminals will continue to refine their tactics, particularly during peak online activity periods like the holidays.
Authorities urge vigilance, noting that attacks may combine phone calls, phishing emails, and fake websites. “The threat landscape is dynamic,” said Dr. Chen. “Staying informed and verifying every contact remains the best defense.”
Financial institutions are also enhancing monitoring systems to detect unusual activity. “We encourage customers to enable multi factor authentication and review account statements regularly,” Martinez said.
“Early detection is key to minimizing losses.” The FBI’s alert highlights the escalating threat of fraudulent calls and account takeover schemes targeting smartphone users.
Citizens are advised to remain cautious, verify contacts independently, and report suspicious activity to both financial institutions and law enforcement.
With criminals continually adapting their methods, awareness and vigilance remain critical in protecting personal and financial information.
