A fake computer alert can be the first move in a scam that ends with someone moving their own retirement money out of reach.
The scheme is known as the “Phantom Hacker” scam. It does not usually begin with a criminal breaking into a bank account. It begins with a fake tech support warning, then a fake bank call, then a fake government contact that tells the victim their money must be moved into a protected account.
A fresh Hudson Valley Post report resurfaced the warning for New York readers, but the strongest sourcing comes from federal and state officials. The New York Attorney General’s Office warned that scammers using coordinated Phantom Hacker attacks have stolen more than $1 billion since 2024 from victims nearing or over retirement age.
The warning is especially dangerous because the lie is built in stages. The victim hears from more than one supposed institution, and each new caller appears to confirm the emergency created by the last one. By the end, the victim may believe they are protecting their savings when they are actually sending money to criminals.
The Fake Tech Support Alert Comes First
The first contact may come through a pop-up window, phone call, text, or email claiming there is a serious problem with the victim’s computer or financial information. The message tells the victim to call a customer support number for help.
According to the FBI’s Internet Crime Complaint Center, the scammer poses as a technology or customer support representative and tells the victim to download software that gives the scammer remote access to the computer. The fake support worker then pretends to run a security scan and claims the computer has been hacked or is at risk.
The scammer’s next request is the real setup. The victim is asked to open bank, savings, retirement, or investment accounts, supposedly so the support worker can check for unauthorized charges. The FBI said that gives the scammer a view of which account has the most money to target.
The Fake Bank Call Turns Fear Into A Transfer
After the target account is identified, a second person contacts the victim while posing as a bank, brokerage, or financial institution representative.
That caller says the victim’s money has been accessed by hackers and must be moved quickly. The warning can sound specific because the scammers may already have seen balances, account names, or recent activity through the remote computer access.
The FBI said victims may be instructed to move money by wire transfer, cash, cryptocurrency, or other methods. Some victims are pushed into multiple transfers over days or months, which can drain banking, savings, retirement, and investment accounts before the victim realizes the threat was invented.
The New York Attorney General’s Office warned that the fake bank caller may tell the victim not to explain the transfer to anyone else. That secrecy demand is one of the clearest red flags in the scheme.
The Government Imposter Makes The Lie Sound Official
The third stage adds another layer of pressure. The victim may receive a call from someone claiming to represent the Federal Reserve, the FBI, or another government agency.
The caller repeats that the victim’s money is unsafe and must be moved into a new “alias” account or government-protected account. The FBI has warned that if the victim becomes suspicious, the scammer may send fake official-looking letters or emails to make the story appear legitimate.
That is what makes the scam different from a single suspicious call. By the time the government imposter appears, the victim has already heard from fake tech support and a fake financial institution. The scam is designed to make separate calls sound like different agencies confirming the same emergency.
There is no secret Federal Reserve account, FBI account, or government safe account for personal savings. The FBI has said the U.S. government will never ask people to send money by wire transfer, cryptocurrency, or gift and prepaid cards.
Some Scams Now Send Couriers For Cash Or Precious Metals
The FBI has also warned about related tech support and government impersonation scams where victims are told to liquidate assets into cash or buy gold, silver, or other precious metals.
In a January 2024 public service announcement, IC3 said scammers had arranged for couriers to meet victims in person and pick up cash or precious metals. From May to December 2023, IC3 saw an uptick in that activity, with aggregated losses of more than $55 million.
In those cases, scammers may tell victims that the assets will be safeguarded in a protected account. The FBI said victims often do not hear from the scammers again after handing over the money or metals.
The Red Flag Is Any Demand To Move Money Fast
The specific story may change, but the core warning sign is the same: someone creates an emergency and tells the victim to move money before speaking with anyone they trust.
The New York Attorney General’s Office advises people not to click unsolicited links, not to call numbers from pop-ups, texts, or emails, and never to give an unknown person remote access to a computer. If someone claims there is a problem with a bank account, the office says to hang up and call the financial institution directly using the number printed on a bank statement.
The FBI also asks victims to report suspicious activity or losses to IC3.gov as quickly as possible. Useful details can include the names or companies used by the scammers, phone numbers, emails, websites, communication methods, and receiving bank account information.
For victims age 60 or older who need help filing an IC3 complaint, the FBI says the DOJ Elder Justice Hotline is available at 1-833-FRAUD-11, or 833-372-8311.