Calls pretending to be your bank's fraud department

How the call goes

It starts with a scare. The caller says there's suspicious activity on your account, or a charge you didn't make. They sound calm and helpful.

They may know your name, your address or part of your card number. Knowing these things doesn't prove the caller works for your bank.

Your caller ID may even show your bank's name. Scammers can make any name or number show up on caller ID. That's called spoofing.

Then they ask you to help. They may ask you to read back a code that was just texted to you. Or they say your account isn't safe and you must move your money somewhere else to "protect" it.

What a real bank won't ask you to do

Share a verification code. Banks use these codes to prove it's really you. The FTC says no caller, especially someone from your bank's fraud department, will ever ask you for one.

Move your money to protect it. The FTC says someone who tells you to move your money to protect it is a scammer. Your money is fine where it is.

Keep the call a secret, or let them into your phone or computer. The FTC says no real fraud department will tell you to keep a call secret, and you should never give anyone remote access to your devices.

What to do if one calls

Your real bank will still be there when you call back.

• If you like, ask which bank they say they're calling from and what the problem is. Then hang up.
• Call your bank yourself. Use the number on the back of your card, on a recent statement, or in your bank's official app or website.
• Don't rely on top search results for the number. Scammers often buy search ads so their fake numbers show up first.
• Don't move money, share codes or let anyone into your phone or computer while you sort it out.
• Talk it over with a friend or family member you trust.

If you shared a code or moved money

Call your bank right away, on a number you know is real, and tell them what happened. Ask them to stop or reverse any transfer. The FTC warns that bank accounts have fewer protections than credit cards, and that money moved because of a scam often can't be gotten back. So call quickly.

If you gave out a password, change it. Then report the call at ReportFraud.ftc.gov. In North Carolina, you can also call the Attorney General's consumer hotline at 1-877-5-NO-SCAM.

Be careful if someone later offers to help you get your money back. The FTC says not to give them money or personal information.

How Nexus handles it

Numbers on the spam list are refused, and most callers you don't know are asked who they are before your phone rings. An automated assistant tells the caller the call is being screened and may be transcribed, then asks who's calling and why. Anthropic's Claude reads what the caller says to decide what to do.

Real callers are put through, or leave a voicemail that's turned into text you can read. Calls with no caller ID are refused. A number caught as spam on more than one member's line, plus numbers from public FTC complaints, is blocked for everyone. Only the number is shared, never what was said.

People in your contacts always ring and are never blocked. If someone calls about your account, hang up and call the number on your card.

Nexus works on Android and iPhone, and you keep your own number and carrier. More about how it works is on the About page.

Nexus is invite-only. The price is on the wait list page, and you can cancel yourself any time.

Common questions

Sources

• FTC: Never move your money to protect it. That's a scam
• FTC: Got a call about fraud activity on your bank account? It could be a scammer
• FTC: How to handle unexpected calls that claim your money is at risk
• FTC: Phone Scams
• NC DOJ: Protecting Consumers