Protect Retirement Savings From Impersonation Scams
A caller who tells you to move retirement savings to “protect” them may be the threat. Stop and contact the institution through a known channel.
By ZoraSafe · Content reviewed
The request matters more than the claimed title
Impersonators may claim to represent a bank, government agency or technical support team. They use an alleged emergency to make a transfer, cash withdrawal or cryptocurrency payment seem like a safety measure.
Sources: FTC: Government impersonation scams; FTC: Scammers use Bitcoin ATMs to steal your money
Interrupt the transfer
You do not need to argue with the caller or prove the story is false before pausing. Ask a trusted person for a second opinion if you want support.
- End the call. Do not stay on the line while visiting a bank or ATM.
- Contact your bank or retirement provider using an existing statement or official app.
- Describe the instruction you received before making any withdrawal or transfer.
Sources: FTC: Government impersonation scams
If savings have already moved
Contact the payment provider promptly with dates, amounts and receipts. Ask what protective steps are available. Reporting is useful, but it does not guarantee a refund or a particular legal outcome.
Sources: FTC: What to do if you were scammed; FTC: Refund and recovery scams
Sources and product references
Reviewed 2026-10-08. Source dates and scope matter; a linked source supports the associated guidance, not every claim about every product.