Fake bank transfers are a fraudulent tactic used by scam brokers or investment platforms to deceive traders into thinking a withdrawal or refund has been processed, when in fact, no money has ever been sent. These scams often involve forged receipts, fake transaction IDs, or fabricated screenshots designed to buy time, stall disputes, or pressure the trader into further deposits.

In this article, we’ll break down how fake bank transfer scams work, the signs to watch for, and how to confirm whether a broker has truly sent your money—or is just faking it.

What Is a Fake Bank Transfer Scam?

A fake bank transfer occurs when a broker claims your withdrawal or refund has been processed, and:

• Sends a screenshot of a fake transfer
• Provides a phony transaction reference number
• Issues a PDF “receipt” with no traceable origin
• Blames your bank for delays that don’t exist

Despite this, no funds actually arrive in your bank account, crypto wallet, or payment method.

How the Scam Works

1. The Withdrawal Request

You request a withdrawal after trading or depositing on the platform. Everything seems routine.

2. Fake Confirmation

You receive:

• An email saying the withdrawal is complete
• A fake SWIFT transfer receipt or transaction ID
• A dashboard update showing “withdrawal processed”

3. The Delay Game

When no funds arrive, the broker claims:

• Your bank is delaying the payment
• There’s a backlog due to high volume
• The payment processor is investigating
• The funds are “stuck” in compliance review

They may even tell you to wait 5–15 business days—long enough for the chargeback window to close.

4. Additional Payment Requests

Some scammers take it further and say:

• You must pay a clearance or verification fee
• There’s a bank mismatch penalty
• Taxes must be paid before the transfer can be released

None of this is true—it’s all a stall tactic to extract more money.

Why Scammers Use Fake Bank Transfers

• To delay action until it’s too late to reverse the deposit
• To create false trust by faking compliance
• To avoid chargebacks by stalling past the dispute deadline
• To wear down the victim with empty promises
• To prepare for disappearance or rebranding

Red Flags of a Fake Bank Transfer

• No money received after 3–5 business days
• No official bank reference number (or one that doesn’t match your records)
• Receipt contains typos or generic bank names
• Transfer supposedly sent from an unrelated third-party name
• Support blames your bank, without any proof
• No record of the transaction from your bank or payment provider
• Broker refuses to provide tracking details (SWIFT, SEPA, or blockchain info)

Real Consequences for Traders

• Financial loss from a fabricated refund
• Missed opportunity for chargebacks or legal claims
• Psychological manipulation and growing mistrust
• Re-victimisation through “recovery fee” scams
• Time wasted chasing fake receipts and false hope

How to Protect Yourself

1. Verify the Transfer with Your Bank

If a broker sends proof of payment, contact your bank:

• Share the transaction ID
• Ask if any transfer is pending
• Confirm if the sender is known or listed

If your bank can’t find it—it doesn’t exist.

2. Insist on Full Transfer Details

Legit withdrawals include:

• SWIFT message copy (for international wire transfers)
• SEPA reference ID (for EU payments)
• Sender name and bank details
• Date and amount matched to your account

If any of these are missing—it’s likely fake.

3. Don’t Pay Clearance or Release Fees

Real banks do not charge you to receive funds. If a broker asks you to pay a release fee—it’s a scam.

4. File a Dispute Quickly

If your money hasn’t arrived within 3–5 business days and the broker is unresponsive or evasive, initiate a chargeback or file a complaint immediately.

5. Use Only Regulated Brokers

Brokers licensed by FCA, ASIC, or CySEC are required to process withdrawals transparently and offer traceable proof of transfer.

Protect Your Funds with Real Education

Knowing how brokers handle payments is essential to avoiding fraud. Traders MBA offers trading courses that teach how to verify transactions, evaluate broker legitimacy, and protect your capital from withdrawal scams and false documents.

Conclusion

Fake bank transfers are a classic trick to disarm suspicion while your funds vanish behind a wall of fake documentation and empty promises. If the money doesn’t reach your account—the transfer never happened. Don’t be fooled by digital paperwork. Trust your bank, not your broker. Because in trading, real transfers leave real trails—scams just leave excuses.