The Federal Bureau of Investigation (FBI) has issued an urgent alert about a fast-spreading scam in which cybercriminals gain access to victims’ devices through screen-sharing features, allowing them to steal money directly from bank accounts.

Known as the “phantom hacker” scheme, the fraud begins with a phone call or message that appears to come from a legitimate bank or support service. The caller warns that the user’s account has been compromised and offers to “help” by transferring funds to a secure location. In reality, the transfer moves the victim’s money straight to the attacker’s account.

Traditionally, these scams relied on tricking users into installing remote-access software, but the FBI now reports a troubling shift. Scammers are increasingly exploiting tools already built into smartphones, specifically screen-sharing options available in widely used communication apps.

One such example involves WhatsApp, a messaging service used by over three billion people worldwide. The app recently introduced a screen-sharing feature during video calls, designed for legitimate collaboration. However, this function also allows the person on the other end of the call to see everything displayed on a user’s screen, including sensitive details such as login credentials and banking information.

Although WhatsApp notifies users to only share their screens with trusted contacts, attackers often use social engineering to bypass suspicion. The FBI notes that fraudsters frequently begin with a normal phone call before requesting to continue the conversation over WhatsApp, claiming that it offers greater security. Once the victim joins the call and enables screen sharing, scammers can observe financial transactions in real time without ever needing to install malicious software.

Experts emphasize that encryption, while essential for privacy, also prevents WhatsApp or any external authority from monitoring these fraudulent activities. The FBI therefore urges users to remain cautious and to never share their screen, banking details, or verification codes during unsolicited calls.

Cybersecurity professionals advise that individuals should hang up immediately if asked to join a video call or screen-sharing session by anyone claiming to represent a bank or technology company. Instead, contact the organization directly through verified customer-care numbers or official websites. Reporting suspicious incidents can also help prevent future cases.

The scale of financial fraud has reached alarming levels in the United States. According to new findings from the Aspen Institute, scams now cost American households over $158 billion annually, prompting calls for a national strategy to combat organized online crime. More than 80 leaders from public and private sectors have urged the creation of a National Task Force on Fraud and Scam Prevention to coordinate efforts between government bodies and financial institutions.

This rise in screen-sharing scams highlights the growing sophistication of cybercriminals, who are increasingly using everyday digital tools for exploitation. As technology advances, experts stress that public vigilance, real-time verification, and responsible digital habits remain the strongest defenses against emerging threats.