Scammers Are Using This Low-Tech Tactic to Access People’s Bank Accounts
Published by: money.com
Date: July 23, 2025
Summary
The article discusses how social engineering tactics are increasingly used in bank account fraud. Criminals manipulate individuals into divulging personal information, such as passwords or account details, by exploiting human psychology rather than hacking systems. Common methods include phishing emails, phone scams, and fake websites that appear legitimate.
To protect against these threats, the article advises vigilance and skepticism toward unsolicited communications. It recommends verifying the legitimacy of requests by contacting institutions directly and using multi-factor authentication for added security. Awareness and education are crucial in preventing fraud, as these scams rely heavily on human error and trust.
Our Take
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.
CLEAR® Facial Biometric Verification & Custom Security Zones
Access requires a live facial scan via CLEAR®. Sensitive transactions also require multi-factor authentication (such as Microsoft Authenticator or YubiKey). Even if a scammer pretends to be from “Fraud Support,” they cannot proceed without this live, in-person verification.
Closed‑Loop Protection™
Funds can only go back to the original verified account. Social engineering schemes that trick victims into sending money elsewhere are blocked automatically.
Lockdown™ Status
Any suspicious activity triggers Lockdown™, immediately freezing transfers. The system gives users and Fort Knox time to analyze and validate transactions rather than acting on fraudster prompts.
Two‑Day Withdrawal Delay
All withdrawals enter a two-business-day pending period—another crucial window for identifying and stopping fraudulent transfers.
Active Account Cloak™ & Blacklist™
Account numbers are masked and incompatible with external systems, and high-risk external accounts are blocked. Even if victims are tricked into sharing account info, attackers cannot use it to transfer funds.
No Links/QR Codes & .Bank Domain Integrity
Fort Knox never sends transactional links or QR codes and operates only via the secure .Bank domain, eliminating phishing methods via unsolicited communications.
Bottom line: Fort Knox’s layered defenses—facial biometrics, deep multi-factor zones, closed-loop transfers, freezes, withdrawal delays, cloaked accounts, blacklisting, and phishing-resistant communication—effectively disable social engineering scams by depriving them of access, urgency, and transferable routes.
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 proprietary technologies to prevent unauthorized access, offering strong defense against social engineering tactics.
Fort Knox offers biometric verification, Intelligent Closed-Loop™ Protection, and Active Account Cloak™ to secure accounts from fraud and unauthorized transactions.
Biometric authentication through CLEAR® ensures only the verified individual can access the account, eliminating the risk of password compromise.
Fort Knox's Lockdown™ feature halts transactions on detecting suspicious activity, while a two-day pending period for withdrawals allows time to cancel unauthorized actions.
Intentional friction, like no instant withdrawals and transaction reviews, ensures that unauthorized access and transfers are minimized, enhancing account 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.
