These are two of the most convincing scams around, because the callers sound professional and the topic matters to you. Here’s what real Medicare and real banks will and won’t do.
Fake Medicare calls
The caller may offer a "new Medicare card," free medical equipment, genetic testing, or help with a plan change during open enrollment. Then they ask you to "confirm" your Medicare number.
What to know: Medicare won’t call you to ask for your Medicare number or other personal information unless you called them first. Your Medicare number can be used to bill for services you never got, so treat it like a credit card number.
If you’re not sure whether a call about Medicare is real, hang up and call 1-800-MEDICARE (1-800-633-4227). Check your Medicare statements for services you don’t recognize.
Fake bank fraud calls
This one often starts with a text: "Did you make a $480 purchase? Reply YES or NO." If you reply, someone calls from what looks like your bank’s real number. They say your account is under attack and they need to:
- read you a code that was just texted to you, so they can "verify" you,
- have you move your money to a "safe account," or
- send a courier to pick up your card.
What to know: caller ID can be faked, so a familiar number proves nothing. Your bank won’t ask you to read back a one-time code, move money to protect it, or hand your card to anyone. Those codes exist so you can sign in; anyone asking for one is trying to get into your account.
A script you can keep by the phone
"Thank you. I’m going to hang up and call the number on the back of my card." Then do exactly that. If it was really your bank, they’ll have a record of the problem when you call.
Other calls that use the same playbook
- Social Security: they say your number has been suspended. Social Security numbers don’t get suspended.
- The IRS: they threaten arrest unless you pay today by gift card. The IRS usually contacts people by mail first and doesn’t take gift cards.
- Utilities: they say your power will be cut off within the hour. Call the number on your bill, such as Pepco, Dominion or BGE, to check.
If you already shared something
If you gave out a Medicare number, call 1-800-MEDICARE. If you gave out card or bank details or a code, call your bank using the number on your card right away. Our step-by-step guide on what to do after a scam walks through the rest.
For adult children
The most useful thing you can do is agree on a plan ahead of time: "If anyone calls about money, hang up and call me or the bank." It takes the pressure off in the moment, and it’s much easier to follow than a list of warning signs.