Beware of a Government‑Impersonation Scam

Someone claiming to be from a government agency warning your bank account may be at risk. What happens next is something we’re seeing more often, and once the money has been handed over, it is difficult, if not impossible, to get back.

We’re seeing a new type of fraud that’s catching very smart, very careful people off guard. It starts with a phone call that feels official. Someone claiming to be from a government agency. It could be the FBI, the Federal Trade Commission, even Social Security. The number may look legitimate. The tone is serious and professional. They immediately tell you your money is not safe in your bank.

They’ll explain that your account has been compromised or your identity has been used in a larger investigation… sometimes even that your bank itself is part of the issue. They tell you the safest thing you can do is move your money quickly into a secure account while the situation is being resolved. They may call it a government account. They may say it’s an account that is being monitored. They may even be on the phone with you while you go to the bank. And in that moment, it can feel very rea because everything about the interaction is designed to create urgency and trust.

But here’s the truth. Once that money leaves your account, it’s no longer protected. And in most cases, it’s gone. There is no investigation. No secure account. There is no government official. Just a scammer who knew exactly what to say. So, here’s what you need to remember:

No government agency will ever ask you to move your money to keep it safe. They will not ask you to withdraw funds, wire money, or transfer assets to another account. And they will never ask you to keep it a secret. If you ever receive a call like this, pause. Hang up. And call your bank directly, someone you know and trust.

At FineMark, these are the kinds of conversations we want you to bring to us. Because protecting your financial life isn’t just about managing your assets, it’s about helping you recognize those who may be trying to take advantage.