Money Saving Monday: Scammers utilizing fake fraud alerts to get your information
Published by: KXLY
Date: July 23, 2025
Summary
The KXLY report highlights a surge in fake fraud alert scams targeting consumers. Scammers send emails or text messages appearing to come from legitimate financial institutions. These messages use official logos, urgent alerts about suspicious activity, and direct users to click emails or call phone numbers.
Victims are then tricked into providing personal information, such as account numbers, Social Security numbers, or one-time passcodes. Once scammers have this data, they can access accounts, steal money, or commit identity theft. The article stresses the realism of these alerts, which often sound official, and urges consumers to verify any suspicious messages by contacting their bank directly—never using links or numbers provided in the message.
Our Take
How Fort Knox Would Thwart This Scam
Fort Knox, developed by Austin Capital Bank, is a high-security savings account designed to safeguard consumers’ life savings and protect them from sophisticated fraud and scams. Its advanced security features include biometric verification, soft and hard tokens, proprietary technologies, and a focus on creating intentional friction to prevent unauthorized access and transactions.
1. CLEAR® Facial Biometric Verification
Even if scammers obtain access to your account, they cannot transfer funds without the user physically present.
Why Fort Knox is More Secure
2. Token-Protected Security Zones
High-risk actions—like transferring money—occur in user-defined “zones” requiring Microsoft Authenticator or YubiKey tokens. Stolen credentials or codes won’t suffice.
Configure Security Measures Zones
3. No Links or QR Codes
Fort Knox never sends transactional links or QR codes via text or email—this removes the primary phishing tactic used by scammers.
Why Fort Knox is More Secure
4. Closed‑Loop Protection™ & Delayed Withdrawals
Funds can only go back to the original verified funding source. Combined with a mandatory two-business-day withdrawal delay, this provides a clear opportunity to detect and intervene against scam activity.
What is Fort Knox High-Security Savings
Funds Transfer Timelines and Limitations
5. Lockdown™, Cloaking, and Blacklist™
Suspicious activity triggers an automatic Lockdown™, freezing all transactions. Account numbers are alphanumeric and incompatible with external systems, and the proprietary Blacklist™ blocks high-risk destinations.
Why Fort Knox is More Secure
In Summary:
Fort Knox’s multi-layered defenses—from live facial biometrics and token-protected action zones to the absence of phishing links, withdrawal controls, and encrypted account details—effectively dismantle fake fraud-alert scams at every stage. Even if fraudsters trick someone into sharing info, they can’t access the account, move funds, or bypass the layered protections.
Quick Breakdown
Get into the article with a quick breakdown of the main topics covered in the article in the Q&A section
Article FAQ
Fort Knox uses biometric authentication and Intelligent Closed-Loop™ Protection to prevent unauthorized access and transactions, safeguarding against fake fraud alerts.
Fort Knox employs biometric verification, Active Account Cloak™, and Lockdown™ features to protect against phishing scams, ensuring only verified access to accounts.
The Lockdown™ feature automatically halts transactions if suspicious activity is detected, allowing for review and verification by the account holder to prevent fraud.
Biometric authentication via CLEAR® eliminates the need for passwords, ensuring only the verified individual can access the account, enhancing security against scams.
Fort Knox subjects all withdrawal requests to a two-day pending period, giving customers time to spot and cancel unauthorized transactions, enhancing security.
Protect your life savings.
Experience the world’s first high-security savings account built from the ground up to keep your money safe and secure.
