Scammers have developed a deceptive method known as “spoofing” to manipulate your Caller ID, making it appear as if your bank is calling. This tactic is used to gain your trust, leading you to believe you’re speaking with a legitimate representative. Once they have your attention, the scammer warns you of an alleged security issue with your account and instructs you to destroy your debit card for safety—but with a catch. They ask you to retain the card’s chip, claiming that a “bank employee” will soon arrive to collect it as part of a security measure.

Shortly afterward, a supposed bank representative arrives at your door to retrieve the chip. Using social engineering—carefully tailored questions and prompts—they convince you to reveal your PIN, perhaps under the guise of verifying your identity or confirming your account.

Armed with both your PIN and the chip, the scammer can now create a clone of your debit card. With this counterfeit card, they can access any ATM and drain your account entirely, often before you even realize what has happened. This elaborate scheme capitalizes on a mix of trust and fear, exploiting the urgency of “security threats” to get you to bypass typical safety precautions.