Account security · 3 min read
When a scammer makes the payment
Sharing a code after deception does not settle who authorized a transfer.
An illustrative example
“Read me the code we just sent so we can stop the suspicious payment.”
Access obtained through deception can let someone else initiate transfers. Describe the sequence accurately when reporting.
This example is fictional and shows a common tactic.
What to look for
- A person asks for a sign-in or verification code.
- Unfamiliar sign-in alerts or account changes.
- Transfers you did not initiate.
A more informed next step
Do not share codes. Secure the account through the official app and notify the provider immediately if someone else may have access.
If you already acted
Explain who actually initiated each transfer. CFPB guidance says a transfer initiated by a third party using access information obtained through fraud can be an unauthorized EFT.
Find guidance for your situation →Sources & further reading
- CFPB · Electronic Fund Transfers FAQs Regulatory guidance
- CFPB · Requests to verify bank information Government guidance
Reviewed October 27, 2026. Provider terms and support routes can change.