Unraveling the Three-Stage Banking Scam: Protecting Your Computer and Finances

The Three-Stage Banking Scam

Protect your financesIn an era where technology is integral to our daily lives, the sophistication of scams has risen to alarming levels.

The latest threat on the horizon is the three-stage banking scam, a deceptive strategy that combines tech support impersonation, false bank alerts, and fraudulent government communications to gain access to your computer and drain your bank account.

In this article, we delve deeper into each stage of this cunning ploy and provide essential tips on how to safeguard yourself against falling victim.



Stage 1: Tech Support Impersonation

The initial stage of this scam involves scammers posing as tech support agents. They send convincing pop-ups, texts, or emails, claiming that your computer has been compromised. The urgency is heightened, insisting you call immediately. Once they have you on the phone, they coerce you into downloading remote access software, granting them control over your computer. Subsequently, they instruct you to log into your online banking, ostensibly to identify fraudulent charges.

Protective Measures:

  • Never trust unsolicited messages or calls asserting computer or account compromise.
  • Avoid clicking on links or attachments from unknown sources.
  • Refrain from calling numbers provided in suspicious messages.
  • Verify any security alerts with the legitimate company or organization before taking any action.

Stage 2: False Bank Alerts

Having gained control over your computer, the scammers enter the second stage, impersonating your bank. They reach out, claiming to have detected fraudulent activity on your account. To further the illusion of legitimacy, they instruct you to transfer your funds to a supposedly “safe” account, often claiming affiliation with the Federal Reserve or another U.S. government agency.

Protective Measures:

  • Never move money to an account suggested as “safe” without verifying through official channels.
  • Pay attention to warning messages from your bank; they exist to protect you.
  • Never share codes or passwords with individuals claiming to be from your bank.

Stage 3: Fraudulent Government Communications

In the final stage, scammers escalate their deception by posing as government officials. They re-establish contact to confirm the fraudulent transfer, sometimes supplementing this with official-looking emails or letters featuring government logos and signatures.

Protective Measures:

  • Be cautious of unsolicited government communications and verify their authenticity through official channels.
  • Government agencies usually do not initiate contact through phone calls for financial transactions.

General Protective Measures:

  • Hang up on suspicious calls and contact your bank or relevant institution using the official number on your statement or card.
  • Never download software or grant remote access to your computer without verifying the legitimacy of the request.
  • Stay informed about the latest scams and be vigilant in protecting your personal and financial information.


As scams evolve, so must our awareness and vigilance. By understanding the intricacies of the three-stage banking scam and adopting proactive protective measures, you can fortify yourself against these sophisticated threats. Remember, staying informed and skeptical is your best defense in the digital age.  If you want to learn more about how to protect your business, contact us today.