ALBANY – New York Attorney General Letitia James today issued a consumer alert warning New Yorkers of a scam that gives scammers access to bank and retirement accounts. The scam, known as the “Phantom Hacker,” usually occurs in three phases, where each phase builds on the last phase to create a convincing scenario for victims. First, victims receive a text, call, or email claiming that their account was hacked, and they are instructed to contact a customer support phone number. Once individuals contact the scammers, they are instructed to download a software program that allows the hackers access to their computer. Then, to convince the victims that this is a legitimate process, the victims receive two separate calls from scammers impersonating their bank and a government agency. Since 2024, scammers using these coordinated attacks have been able to steal over $1 billion from victims who were nearing or over their retirement age. Attorney General James is providing New Yorkers with tips on how to protect themselves from this scam. 

“Heartless scammers are stealing people’s hard-earned retirement savings that they rely on to pay bills,” said  Attorney General James. “I am urging all New Yorkers to beware of this three-phase scam that is made to appear legitimate. Seniors deserve to live comfortably in their retirement years with the savings they worked hard to build over the years. If you or someone you know falls victim to this scam, please contact my office.”