Know How Scammers Are Leveraging Your Bank Account & Routing Number to Steal From You!

What could someone possibly do with your bank account and routing numbers? Will your bank account and your money be compromised if someone has these banking details? While some of the possible activities are risk-free, like sending money to a person’s account, others might put your assets in danger since con artists can commit ACH frauds and write fake checks using the information from your account.

If a person or corporation asks for your bank account and routing number, you might be concerned about the security of disclosing this information. 

Why do they first require these two numbers? Since you’ve never disclosed this data, you could be wary for fear of your bank account being compromised. If you’ve previously given these data or if someone has access to your bank account information without your permission, this worry is likely multiplied tenfold.

What could someone possibly do with your bank account and routing numbers? Will your bank account and your money be compromised if someone has these banking details? While some of the possible activities are risk-free, like sending money to a person’s account, others might put your assets in danger since con artists can commit ACH frauds and write fake checks using the information from your account.

Normally, just knowing your bank routing number won’t give someone access to your checking account, but if they also know your account number, they could be able to make money from it. Additionally, someone might take money by utilizing your debit card information. To reduce your guilt, you should get in touch with your bank as soon as you suspect that your account has been compromised.

Secure credit cards

If you want to keep yourself safe from falling victim to banking scams, then you’re definitely at the right place. We can give you the best practices in identifying red flags as well as help you in recovering your stolen money from scammers!

Table of Contents

Different Types of Scams Account Scams

1. ACH Fraud

A transaction that is initiated or altered in an effort to steal money is called an ACH debit scam

If fraud prevention measures aren’t in place, any ACH debit or credit might post to your account without your consent. The fact that any check may be used to gain account and routing details is a crucial component of this scam.

Hackers are increasingly using fraud using the Automated Clearing House (ACH) Network, which financial institutions use to process direct deposits, cheques, bill payments, and cash transfers between businesses and people to drain money from the bank accounts of unwary victims.

To commit ACH fraud, criminals only need two pieces of information: a checking account number and a bank routing number. They often gain the data by tricking the victim into executing malicious software through a targeted phishing email, which then enables crooks to install keylogging malware and steal bank account credentials.

ACH Debit

2. Deposit Fraud

Deposit fraud happens when money is deposited into a bank account via an electronic or paper payment. 

The deposit owner then assumes control and directs the nearly immediate payout of that money. The fraudster or a stand-in for them might be the deposit owner. The so-called Mules, sought out through social media advertising with the promise of a pay every transaction, are the surrogate owners.

Due to a change in the legislation, cheques can now be electronically submitted and cleared within 24 hours instead of the customary three days. A cleared check does not always indicate it is good, and a bad (returned) check signifies that the bank has taken money out of the account. The owners are responsible for any funds removed from the account using the proceeds of the fraudulent check.

When money is received electronically, there is no credit risk because it is transparent and available for use right away. In the internet age, faster payments are wonderful for convenience and, regrettably, quite helpful for fraudsters. Scam proceeds are sent into the payee’s bank account. The con artist or a bank account under their control might now run the payee bank account. Making deposits into mule accounts is a preferred method of money laundering for criminals.

3. Online Shopping Scams

Online shopping for the holidays is handy but exposes you to fraud. 

The holidays are a prime time for fraudsters to prey on people purchasing more goods and thus are more likely to overlook false charges among a large number of transactions.

You can be targeted by scammers who send you fraudulent emails or messages promoting too-good-to-be-true discounts when you purchase online or via your mobile device (known as phishing). Unknowingly giving your credit card number to a criminal who can use it to make illegal purchases is possible if you click on an untrusted link.

Some internet merchants, like Amazon, accept bank account information as payment. Amazon requests a copy of your driver’s license or state I.D. number when paying in this manner. However, some retailers merely need your name, account number, and routing number (as previously reported). If they have all the information the online retailer needs, someone might use your checking account information to shop, similar to ACH fraud.

If you’ve been scammed through online trading and need assistance, then we have the expertise to help you get your money back!


If you have suspicions of a scam or phishing attack, you can rely on experts to help you with protection, mitigation, and fund recovery. You will feel safe knowing that experts with years of experience will be guiding you!

man thinking of scam protection

How are Your Bank Accounts and Routing Numbers Used by Scammers?

1. Send Money to Your Account

Someone will be able to transfer money to your bank account using your routing number and bank account number. 

If the user possesses these two sets of data, they can successfully execute the transaction. Receiving money shouldn’t be a problem if you expect it from someone or use a direct deposit system. Unexpected cash might, however, show up in your bank account. If this occurs, contacting your bank is crucial to find out where the money came from. If you see disproportionately huge sums of money in your bank account, it’s conceivable that someone is setting you up for criminal activities like money laundering.

Recently, a company’s sole owner, Billy, claimed that he noticed unusual transactions in his account for a couple of days. He contacted most of his debtors, and no one agreed that they had sent him the sum of this large amount. Billy notified his bank and requested them to look into the source of these deposits, and eventually, the culprit was arrested. The culprit had a lot of unexplained money, and it was discovered that he was involved in smuggling.

man victim of cyber fraud

2. Commit ACH Frauds

This kind of fraud can happen through online or telephone transactions. More sophisticated ACH fraud committed by rings starts with installing a Trojan computer on a target computer, typically through a “phishing” assault carried out via email or a compromised website. 

Once the Trojan is installed, the fraudsters begin to track keystrokes in search of bank account logins. They create their login using this information, withdraw money from the accounts, or make payments using the accounts. Many bigger schemes use “mules,” or collaborators, typically through work-at-home schemes to transport money on their behalf, either intentionally or unwittingly, to their foreign accounts.

Due to its ease of execution and potential for detection, ACH fraud has increased. The FBI and the FDIC both issued warnings about the rise in these scams. Targeted ACH scams against the U.S. have attracted the attention of several fraud networks. These fraudsters have found that they may now do the same operations with ACH transactions that they previously performed with checks. It is quite simple with electronic transactions alone.

man giving money

Alex revealed that fraudulent ACH transactions occurred at his firm, which sells organic skincare goods. When a strange payment was made to a credit card that the business did not own, that is when they first realized there was a fraud. Then, they found that twelve unauthorized ACH transfers totaling $250,000 had been made over a few days. His business has been wary about being a target of ACH scams once more since the account information and routing codes are listed on the corporate check. 

In actuality, ACH fraud had a good year in 2020 as well. Consumers reported more than 2.2 million different types of fraud to the U.S. Federal Trade Commission, with impostor scams continuing to be the most prevalent. These frauds often take the form of Authorized Push Payment (APP) schemes, in which the consumer executes the transaction themselves, frequently via ACH payments.

Scammed Account

3. Create Fraudulent Checks

A classic check fraud scam involves someone sending you a check, asking you to deposit the money in your account, and then asking you to transmit the majority of the money to another location through wire transfer, e-Transfer, or money order. 

An Internet job posting for a collection agent, a lottery or inheritance notice, or an overcharge for anything you’re selling that you’re required to refund the extra money are a few instances where this may happen. One of the riskiest forms of fraud for members is cheque fraud since you will be responsible for any credits paid to your account as a result of a fake check.

signing check

How to Protect Yourself from Fraud?

If someone has your account and routing details, they can make money from your account by pretending to be you. 

As a result, avoid disclosing the information to anybody you meet because doing so might harm your safety. The information needed to make direct payments to your account can be obtained from your employer or reliable clients.

There is nothing better than trust when it comes to financial matters. Your ATM card PIN shouldn’t even be known to your spouse. Your PIN might be used to make money from an ATM by someone else. Additionally, if they gain access to your card account online and can transmit money from one card to another online, they could also send money to their cards. If you think someone else knows your PIN, change it.

legal court room

Public WiFi networks are risky spaces where masked hackers wait to prey. You could be delighted to have free WiFi, only to learn later that it was being exploited as a ruse to obtain your bank account information. You should definitely steer clear of utilizing public WiFi whenever possible. Instead of relying on free public WiFi, you could use internet connections from your telephone service providers.

Some applications act as spies, gathering user data and sending it to scammers. Never download applications from shady websites. The most reliable sources for your essential apps are Google Play Store, App Store, and Windows Store.

Guarding Against ACH frauds

ACH block: Placing a block on all of your accounts is likely the easiest and best strategy to avoid ACH fraud. 

calculator money

The block won’t automatically reject transactions; instead, you’ll need to examine and approve each one before it can be carried out. In other words, an ACH block prevents automated or unreviewed transactions.

One-time authorization: A single transaction is authorized by submitting the company identity information and transaction amount in a one-time authorization. The bank executes the transaction alone after verifying the transaction using the data you supply.

Authorized-user list: You can make an authorized-user list if you have frequent transactions with a limited number of other parties. Additionally, you may define price restrictions, period ranges, and whether the usage is recurring or one-time. The transaction is refused or put on hold for your approval if it comes from a business that is not on the list or doesn’t fit any of the other criteria you’ve established.


Internal Controls: Internal controls can also be put in place to stop staff from engaging in dishonest activity. For instance, setting up a “dual control” system in which one employee starts a payment or debit transaction and another employee confirms the release or acceptance of that transaction is an efficient approach to managing the movement of cash. In this manner, nobody has complete control over the entire process.

In addition, you must confirm that the computers used to access or store financial data, including ACH transactions, are malware- and virus-free. Use secure passwords, update them frequently, and only allow people who truly need to use your ACH system to access it. Reducing the number of people who are in a position to commit fraud is one of the greatest strategies to stop employee fraud.

Bottom Line!

Anyone can impersonate you to take money from your account using your routing and account numbers. 

You can prevent losing your money if you promptly notify your bank or any other financial institution about unauthorized transactions. You should never divulge your personal banking information to anyone since you never know who could be able to steal from you. The more you can avoid making online purchases, the better, as hackers utilize these platforms to get access to crucial data.

We Can Help You

Victims of scams are stressed out because they don’t know what to do. We have the tools and experience to fight off scams. We will help you in getting your money back.

Please fill up the form now so that our team will get in touch with you.

Share this Article