Instant payment apps and mobile banking let you send money in seconds. Unfortunately, that speed also helps fraudsters: once a payment is sent, it is often very hard to reverse. The good news is that most scams depend on you approving a payment or sharing a code. Learn the tricks and you can stop them.
The golden rule
You never need to enter your PIN, password or a one-time code to receive money. Codes and PINs are for sending money or logging in. Anyone who asks for them “so you can get paid” is a fraudster.
8 common payment scams
- Fake payment requests: a “buyer” on a marketplace sends a request that looks like a payment to you. Approving it sends your money to them.
- Bank impersonation calls: a caller claiming to be from your bank’s fraud team says your account is at risk and asks you to move money to a “safe account”. Banks never ask this.
- QR code tricks: you are told to scan a code to receive a refund or prize. Scanning and approving sends money instead.
- Fake customer support: you search online for a helpline and call a fake number, or a “support agent” contacts you on social media.
- Screen-sharing apps: a “helper” asks you to install a remote-access app, then watches your screen and codes.
- “Sent by mistake” messages: someone claims they paid you by accident and asks you to send it back. Often the “payment” was a fake message. Check your real balance in the official app.
- Fake payment screenshots: a buyer shows a “payment successful” screen and leaves with the goods. Sellers should confirm in their own app.
- Job and task scams: you are paid small amounts for easy online tasks, then asked to pay a “deposit” to unlock bigger earnings that never come.
Habits that keep you safe
- Check the recipient’s name before you confirm any payment.
- Never share PINs, passwords or one-time codes, even with someone who says they work at your bank.
- If your bank calls, hang up and call back on the number printed on your card or shown in the official app.
- Install apps only from the official app store and keep them updated.
- Turn on transaction alerts and set sensible daily payment limits.
- Slow down: scammers create urgency so you don’t stop to think.
If money leaves your account
- Call your bank immediately using the official number and ask them to block your account or card. Speed matters: the sooner you report, the better the chance of stopping the transfer.
- Report the payment in the app you used.
- Report the crime to the police and your country’s online fraud or cybercrime reporting service.
- Keep evidence: screenshots, transaction references, phone numbers and usernames.
- Ask your bank about its rules on refunds for unauthorised or scam payments; many countries have consumer protections, especially if you report quickly.
This article is general information. Follow your own bank’s official guidance for your account.