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The veteran journalist, known for reporting from war zones, natural disasters, and major breaking news events around the world, said the incident proved that anyone—even someone familiar with fraud schemes—can be deceived by skilled scammers.
A Convincing Phone Call
Gutman, 48, explained that he received a phone call from a woman who claimed to work in the fraud protection department of his bank.
From the beginning, the caller appeared legitimate. She introduced herself by name, provided what she described as a badge identification number, and spoke confidently using banking terminology. According to Gutman, she also seemed to know a surprising amount of personal information about him and his bank accounts.
The caller claimed that hackers were attempting to steal money from his accounts and that the bank had discovered suspicious activity.
As the conversation continued, Gutman said they reviewed his various accounts together. The story became even more believable because his family had recently experienced genuine suspicious activity involving one of his daughter's bank accounts.
That detail made the warning sound credible.
The Fake Investigation
The woman then claimed that investigators believed two employees at Gutman's local bank branch were secretly involved in fraud.
She even supplied the names of the supposed employees.
According to the caller, the bank needed Gutman's help to catch the criminals.
She instructed him to go to his local bank branch immediately and withdraw all of the money from his accounts in cash.
Gutman later recalled that the caller told him this would trigger the alleged fraudsters into action, allowing investigators to catch them in the act.
Although the request seemed unusual, the detailed explanation made it sound like part of a genuine investigation.
Growing Suspicion
Despite following the caller's instructions and driving to his local bank branch, Gutman said something did not feel right.
The biggest warning sign came when the woman instructed him not to tell any bank employee why he was withdrawing the money.
She claimed that bank workers could be involved in the fraud and warned him not to discuss the operation with anyone inside the branch.
That instruction immediately raised concerns.
Gutman later explained that he began questioning the situation, realizing it made little sense that a legitimate bank or law enforcement agency would ask an ordinary customer to participate in a secret sting operation.
The Moment He Realized It Was a Scam
Standing at the teller counter, Gutman said he finally recognized that the entire operation was fraudulent.
He later explained that no legitimate financial institution would ever ask a customer to secretly withdraw all of their money as part of an investigation.
The realization likely prevented him from suffering a major financial loss.
A Dangerous Plan Beyond the Money
Gutman said the financial loss was only one part of the danger.
Had he withdrawn thousands of dollars in cash, he would have been carrying a large amount of money while traveling to a location that the scammers themselves had selected.
According to information he later received, criminals behind similar scams often monitor victims after directing them to a bank.
In many cases, victims are reportedly robbed either in the bank parking lot or after leaving the branch because the scammers know they are carrying cash.
Gutman described this possibility as the most frightening part of the experience.
Warning Others
After the incident, Gutman posted a video on X to warn the public about how convincing modern financial scams have become.
He admitted that he considers himself knowledgeable about fraud because he has reported on many scam stories throughout his journalism career.
Even so, he said the caller's professionalism nearly convinced him.
He described the scam as "incredibly sophisticated" and said the woman sounded exactly like someone working in the banking industry.
Gutman said he was amazed by how convincing the impersonation was and wanted to remind people that these scams can fool almost anyone.
Help from Police and Bank Staff
Gutman thanked the Los Angeles Police Department and employees at Bank of America for helping prevent what could have become a dangerous and costly situation.
Their assistance helped him recognize the scam before any money was withdrawn.
A Reminder About Bank Security
Financial institutions and law enforcement agencies repeatedly warn customers that banks will never ask them to:
• Withdraw all of their money to "protect" it.
• Keep banking instructions secret from branch employees.
• Assist in undercover investigations involving their own accounts.
• Transfer cash to another location for "safe keeping."
• Purchase gift cards or cryptocurrency to secure their funds.
Experts advise customers to hang up immediately if they receive unexpected calls involving urgent financial instructions. Anyone who is unsure should contact their bank directly using the official phone number printed on the back of their bank card or listed on the bank's official website.
A Career Built on Reporting Major Events
Gutman is one of America's best-known television journalists.
In 2026, he joined CBS News as Chief Correspondent, appearing regularly on CBS Mornings, CBS Evening News, 48 Hours, and contributing to 60 Minutes.
Before joining CBS, he spent nearly two decades at ABC News, where he became Chief National Correspondent.
Throughout his career, Gutman has reported from more than 50 countries, covering some of the most significant events of the modern era.
His reporting has included the Russian invasion of Ukraine, the October 7 attacks in Israel, the COVID-19 pandemic, the death of George Floyd, mass shootings across the United States, and major natural disasters on six continents.
Gutman's journalism career began as a freelance reporter in Argentina before he moved to Israel during the Second Intifada, where he covered conflicts throughout the Middle East for several international news organizations.
Author and Advocate
Beyond television journalism, Gutman is also an accomplished author.
His books include The Boys in the Cave, which chronicles the dramatic 2018 rescue of a youth soccer team trapped in a flooded cave in Thailand, and No Time to Panic, a memoir detailing his lifelong struggle with panic attacks and anxiety.
The memoir followed a widely discussed on-air incident in which he experienced a panic attack while reporting live.
Award-Winning Journalist
Gutman's work has earned many of journalism's highest honors, including multiple Emmy Awards, Edward R. Murrow Awards, the Alfred I. duPont–Columbia University Award, a Peabody Award, and a Gracie Award.
An Important Public Warning
Gutman's experience serves as a reminder that phone scams have become increasingly sophisticated.
Fraudsters often use personal information, professional language, and psychological pressure to create convincing stories that appear genuine. Their goal is to make victims act quickly before they have time to question the situation.
By sharing his own close call, Gutman hopes others will recognize similar warning signs and avoid becoming victims of financial fraud. His message is simple: if anyone claiming to represent your bank asks you to withdraw your money or keep the conversation secret, treat it as a major red flag, end the call, and contact your bank through its official customer service channels.
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