Common bank scams you should be aware

What someone can do with your bank details

Are you having a chat with someone and have this feeling that you are chatting with a scammer? A step further, the person is asking for your bank account number, and you are getting worried that they might want to run some shady things with your bank account number? The common question faced by people in this category is asking “what can a scammer do with my bank number?” In this article, I will show you some of the things a scammer can do with your bank details.

If I give a scammer my bank account number, one of the things a scammer can use my bank account number for is to commit identity theft. It is one of the most common things scammers use your information for. Not just identity theft, there are others like phishing, money laundering, fake check overdraft and many other bank frauds that can happen.

Now you are aware of the reason why a scammer is asking for you bank details, let’s consider some of the things that scammers can use your bank account number for.

Five Things that can happen if someone has your Bank Account Numbercommon bank scams

Safe Haven for Stolen Money

Typically, a scammer is looking for a safe haven to keep his loot before passing it on to his final destination. One of the many reasons why he can’t use his own bank details is to avoid the process of getting caught.

Read also: How to Completely Stay Anonymous on the Internet 

In such a situation, the scammer is looking for a bank account number to use and rest his loot. He approaches you online or anywhere on the internet and requests your account number. Once you give him the details, he is able to pass it on to another victim who then pays into your account.  It is a win-win situation for the scammer since he has nothing to lose. If the first victim wants to lodge a complaint, the real account owner is the person to be arrested.

If the scammer sends the money into your account and you decide to do away with the money, the scammer would alert the authorities and that’s the end. You enter into investigation and the rigorous process that comes along with being interrogated.

Use your bank account information for scams

This is quite similar to the first point, just that this time, they use your information to commit a crime in your name by creating a fake ID. These scams might involve smuggling illegal money into your account using your bank information.

Same way as the first point; if it happens, then you could find yourself being investigated by the law enforcement agents in your country where you may find it hard to prove that you are innocent.

Identity Theft

In certain situations, your bank account details might be used to register on several websites on the internet. This is one of the major things you should consider for those asking “what can a scammer do with my bank account”.

Identity theft is a situation when a scammer or a fraudster decides to use your identity as a means to obtain credit, financial advantage or other benefits in your name. In most cases, it would come as a loss to you. You can read more about identity theft and how to avoid being a victim.

Once the scammer enough information about your bank account, they could take out unsecured loans. The moment they receive the money, they are gone and you are left to deal with the aftermath.

In most cases you would pay the loan back except you can prove that the situation is a case of identity theft. This would even cause you more time and stress.

Phishing Scams

You might get calls or emails from someone claiming to be working with a bank or a credit card issuer, asking you to update your information online, this is called a phishing scam.

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It revolves around taking you to a dummy website that looks like that of your bank. Once you input your real details, the scammer collects it at the bank end of the dummy website and then gain access to your bank account. In most cases, they make withdrawals or use the information to deposit and withdraw money without your consent.

Sell your details

So for those asking “what can a scammer do with my bank account number”? Just bear in mind that there are experienced hackers who are willing to pay a dime to get hold of account details that matches their specifications.

So what can someone do with my bank details?

They will sell it to these hackers and I guess you know the end result of such sales. Bank details are usually sold on social media and on the dark web.

How can a Scammer Get your Bank Account Details?

There are several ways a scammer can use to gain knowledge of your bank account number and other relevant details. In this section, we will be going into details and exploring the options.

Read also: 5 Sample text message asking for financial assistance

Mail Interception

Your email log can get intercepted and a scammer would get hold of your bank account number and other important information. If you have a transaction you intend to complete, they might they go ahead and help you complete it without your notice.

In other cases, the scammer might set up a mail redirection without your knowledge. Your personal data such as your SSN, utility bills, etc., can also be stolen.

Data Breach

This isn’t your fault and it rarely happens. In situations when you make a transactions, payments, or make payment online, your information can be accessed if it falls into the wrong hand.

Several financial companies experience data breach, so it isn’t something out of the extraordinary. You have no control over the next line of action if your financial institution experiences a data breach. They always do fix it themselves even without you being aware.

Social Media Interaction

One of the popular ways scammers get hold of your bank information is via social interactions. I guess you might have come across people holding “giveaways” online. Giveaways simply means “giving out money to interested participants”.

In this situation, you are asked to drop your bank account information and a certain amount would be paid to your bank. After dropping your account number, a scammer picks it up and do whatever he wants with your details.

In extreme situation, the scammers interacts with you to find out certain information about yourself like;

  • Your pet’s name
  • Uncle’s name
  • Name of your first school
  • Your uncle’s last name

Getting this information from you in a deceitful way is called “Social engineering”, to make his phishing process seamless. There are other formats for scamming that can also be used.


So if you are still asking “what can a scammer do with my bank account”, just bear in mind that there are other ways to get money out of your bank account just by having access to your bank details.

If the person requesting for your bank details isn’t paying you money for a service delivered or a family, then don’t hand over your personal information.

Finally, if someone ever has hands on your bank details, make sure to act fast. Otherwise, you may find your credit score become bad. Just in case your credit score becomes bad, you can change credit score illegally.

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