Banking expert’s five phrases that trigger your bank’s fraud investigations | Personal Finance | Finance

Most banks have technology that flag accounts for fraud investigations when suspicious activity is detected. This safeguards users who may have fallen victim to scams or are on the verge of being defrauded.

But it’s not just unusual transactions that banks monitor, as Business Expert director Mike Smith revealed. The banking compliance specialist disclosed that bank personnel are trained to watch for specific phrases and terminology that could signal fraud is occurring.

He said: “Banks train their staff to spot language that often indicates a customer is being coerced or might be involved in fraudulent activity. These verbal cues are so significant that using just one of them can launch an investigation into your account.”

As a result, using particular phrases with your bank staff could prompt immediate alerts and a fraud investigation.

Smith noted the top warning phrase as: “I need this payment to go through urgently.”

He explained: “This creates immediate suspicion as fraudsters often create artificial time pressure to force transactions through before proper checks can be completed. Bank staff are trained to slow down, not speed up, when they hear this.”

The second phrase he cautioned against involves mentioning that your payment relates to cryptocurrency or an investment opportunity.

He said: “With cryptocurrency scams rising dramatically, any mention of crypto paired with urgent transfers will usually trigger enhanced due diligence measures. Staff are required to ask additional questions about the recipient and purpose.”

Informing bank workers you’re “sending money to someone you’ve never met” comes third on Smith’s roster of red-flag phrases that spark investigations, as it could signal someone is being duped by a romance or investment con.

Banking personnel are coached to probe further in such circumstances and may even implement protective safeguards, the specialist revealed.

The fourth expression to steer clear of involves mentioning contact from someone claiming to be from your bank’s security department.

Smith explained: “Genuine bank security teams never ask customers to move money to ‘safe accounts’ or share authentication codes. Mentioning this scenario will automatically trigger the bank’s fraud protocols.”

Lastly, Smith cautioned that telling banking staff you cannot reveal the reason for your payment – particularly if you’ve been instructed to stay silent – might prompt an instant alert.

He said: “Fraudsters often coach victims to keep the real purpose secret. Bank staff are trained to view secretive behaviour as highly suspicious and will flag the account immediately.”

Smith urged bank customers to remain completely honest about their transactions: “If you feel uncomfortable discussing the true purpose of your payment with bank staff, that’s often a sign something isn’t right. Banks ask these questions to protect you, not to pry.”