One ING client accused the bank of leaking his personal data, leading to him getting scammed | Credits: Shutterstock
Alarming reports are flooding in as criminals deploy a highly deceptive “safe account” scam, which is leaving bank balances wiped out in a flash.
Victims receive fake text alerts claiming that their bank account has been compromised. The next thing they know, they’re unknowingly transferring their savings into a fraudster’s account—all under the guise of keeping their money “safe,” according to an article by El Economista.
The report chronicles how Miguel Angel Sanchez, who on X thanked a news outlet for allowing him to explain his telephone scam case and how ING let them down. In a separate X post, Sanchez held ING and CECA (a Spanish banking and financial institution association) accountable for the sale of banking clients’ information, leaving account holders vulnerable to scams.
“Bank user databases are being sold every day through various means. It’s not the users’ responsibility that entities, such as ING, have data leaks,” he said.
The scam Sanchez suffered
One day, Sanchez received a call from a supposed ING security team member, who told him his account had been breached and that he needed to transfer his money out of it or risk losing his life savings.
This type of scam is surging not only in Spain but across all of Europe. In Ireland alone, the Bank of Ireland revealed a tenfold increase in incidents in just 24 hours, with over 80 per cent of the population targeted at least once in the past year.
Scammers often use Revolut or smaller “safe” accounts they control, creating the illusion of official banking intervention. Once victims comply, their cash vanishes.
How it’s playing out in real life is terrifying. You receive a text message stating that your account has been compromised and to call a specific number immediately. That number, however, is a trap. The caller pretends to be from the fraud department and instructs you to open your mobile app and transfer funds to a “secure” account—an account that belongs to the scammer. A follow-up message even confirms the “transfer”, building false trust while you’re completely drained.
This scam isn’t a one-off. FraudSMART in Ireland reports typical losses between 6,000 and 8,000 euros per victim.
In the UK, Payment Systems Regulator data show that nearly 510 million euros was lost through push-payment scams in 2023, with less than two-thirds of victims being refunded. That’s a call to action for anyone online.
Here’s how to protect yourself
- Banks will never ask you to transfer money to another account for safety reasons.
- Ignore suspicious texts that include numbers—never call them.
- Use official contact numbers or app messaging to confirm with your bank.
- Immediately report any dodgy texts or calls to your bank—take screenshots or send them to trusted fraud-reporting services.
Regulators are stepping up. Ireland’s telecom watchdog plans to label suspicious SMS messages as “scam likely,” and aims to block them completely by October.
UK banks now face tougher rules: they must cover fraudulent losses under new protections from last year’s Payment Systems Regulator guidelines.
This scam is clever—using urgency, fear, and false authority to manipulate even cautious individuals. But awareness is your best defence. Never rush transfers based on text messages. If your bank says they’ll never ask to move funds, believe them. Keep your account where it belongs: safe in your hands.
