A scam known as the "Phantom Hacker" is spreading quickly across the United States, with criminals persuading people to surrender their own money under the false belief that they are keeping it safe.
The damage has been especially severe among older Americans, as scammers use panic and misplaced trust to steal large sums.
What's happening?
GuideStone Financial Resources is warning consumers about the scam after it detected and stopped a fraud attempt targeting one of its members before any funds were moved, as reported by The Baptist Paper.
Federal complaint data cited by the outlet shows that in 2025, the FBI's Internet Crime Complaint Center received more than 47,000 reports tied to tech support scams, with nationwide losses topping $2.1 billion. About half of both the reported victims and the losses involved people 60 and older.
In this scam, criminals often rotate roles to make the story seem believable. One may claim to be from tech support and warn that a computer was breached, followed by someone posing as a bank or financial institution. Sometimes a supposed government official joins in and urges the victim to transfer money into a "safe" account that is actually under the scammer's control.
"These scams exploit both fear and trust," said Brandon Waldeck, director of enterprise risk at GuideStone.
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Why does it matter?
Instead of hacking into an account and taking money outright, scammers trick people into handing over retirement savings, emergency funds, and other important assets on their own.
For older adults, a significant financial hit can be harder to recover from because they may have less time to rebuild. The consequences can also spread to families, faith communities, and caregivers who must cope with the aftermath.
Waldeck said many victims think they are "protecting their savings, securing their accounts or even helping law enforcement investigate serious crimes." But, he added, "In reality, they are transferring their money directly to criminals, and in many cases those funds are never recovered."
What can I do?
Before doing anything, GuideStone says consumers should make sure the person contacting them is legitimate. "If something doesn't seem right, hang up and contact the institution directly using a trusted phone number from a statement, account document or the institution's official website," Waldeck said, according to The Baptist Paper.
Consumers should avoid responding to unexpected pop-ups, texts, emails, or links claiming a device was hacked. They also should not install software or give remote computer access to someone who reaches out unexpectedly.
Consumers also should not move money simply because an unexpected call, text, or email instructs them to do so. GuideStone warned that no legitimate authority should insist a supposed hack be kept secret from loved ones or law enforcement.
Anyone who thinks they may have been targeted should contact local law enforcement and file a report with the FBI's Internet Crime Complaint Center at IC3.gov. Suspicious calls involving GuideStone accounts should be reported through its official number, 1-888-98-GUIDE.
Hance Dilbeck, president and CEO of GuideStone, added: "By sharing information and promoting awareness, we hope to help protect pastors, ministry leaders and retirees from becoming victims of fraud."
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