Martin Lewis Phone Security Code – Never Share With Anyone

Phone security codes have become the final barrier between criminals and empty bank accounts. Martin Lewis, founder of MoneySavingExpert, has issued stark warnings that sharing these digits—often sent via text as two-factor authentication—destroys that protection instantly. His campaign emphasizes a simple rule: legitimate banks never ask for these codes, and treating them with the same secrecy as your PIN is now essential consumer defense.

The urgency reflects a surge in sophisticated fraud where criminals impersonate bank staff or trusted services. These scammers exploit urgency and authority to extract codes from unsuspecting victims. Once shared, account takeovers happen within minutes, often leaving victims with drained savings and little recourse.

Lewis has amplified this message through his ITV Money Show appearances and MSE platform, responding to viewer concerns about phone theft and banking safety. The advice extends beyond code secrecy to include practical steps like securing device identifiers—critical knowledge as phone snatching rises across the UK.

Why Does Martin Lewis Say Never to Share Your Phone Security Code?

• Sharing a security code grants criminals immediate access to bypass your password and biometric protections
• Fraudsters often pose as bank fraud departments to create false urgency and trust
• Biometrics alone cannot protect bank apps if a thief gains physical possession of your unlocked phone
• MSE and Action Fraud joint campaigns documented millions in annual losses from code-sharing scams
• The Metropolitan Police seized 1,000 phones in February 2025, highlighting the scale of device theft enabling these frauds
• Lewis’s advice extends to saving your IMEI number (*#06#) to help police block stolen handsets across networks

What Is a Phone Security Code and Why Is It Dangerous?

What is a phone security code?

A phone security code—typically a six-digit number sent via SMS or generated by an authenticator app—serves as the second layer of verification in two-factor authentication (2FA). When you log into banking apps or authorize payments, this code proves you possess the registered device. Banks generate these codes automatically during sensitive transactions, sending them only to the mobile number linked to your account.

Why is sharing a security code dangerous?

The danger lies in the code’s function as proof of identity. When you share it, you effectively hand over the keys to your account. Scammers exploit this by posing as bank security teams claiming to detect suspicious activity. They create panic, request the code to “verify your identity” or “stop a transaction,” then use the code to empty accounts or authorize fraudulent transfers. According to reports on Lewis’s warnings, this tactic has led to millions in losses through authorized push payment (APP) fraud.

What Scams Involve Asking for Your Bank Security Code?

The fake fraud department call

Scammers spoof bank phone numbers to appear legitimate on caller ID. They claim your account shows suspicious transactions and ask you to read back the “verification code” just sent to your phone—actually a code triggered by their login attempt. Action Fraud documentation confirms these imposters often know partial account details obtained through data breaches, enhancing their credibility.

Smishing and urgent text messages

Text messages claiming your account is frozen or compromised direct you to call a number or reply with security codes. The messages mimic bank formatting exactly. Lewis emphasizes through MSE that banks never request codes via SMS responses or inbound calls.

Device theft follow-up

With 78,000 phone thefts reported in England and Wales through March 2024, criminals have adapted. Stolen devices provide access to banking apps, but biometrics often block immediate entry. Thieves call the stolen phone posing as “bank security,” claiming they need the code to secure the account, tricking victims who don’t yet realize their phone is stolen.

How to Protect Yourself from Phone Code Scams According to Martin Lewis

Enable layered biometric protection

Lewis advises that fingerprint or Face ID protection must apply to both your phone lock screen and individual banking apps. As noted in his recent guidance, biometrics on the phone alone are insufficient if thieves bypass the lock screen through shoulder-surfing or coercion.

Secure your IMEI number immediately

Dial *#06# on your phone to reveal its unique 15-digit IMEI identifier. Screenshot or record this number securely—never on the device itself. If your phone is stolen, providing this to police enables them to block the handset across all UK networks, rendering it worthless to criminals and protecting any cached banking sessions.

Verify through independent channels

If someone claims to be from your bank, terminate the call and dial the number on the back of your card. Wait five minutes or use a different phone to ensure the line has cleared, as scammers sometimes stay connected to spoof dial tones. The Financial Conduct Authority supports this verification approach as standard security practice.

For additional consumer protection resources, see our guide on finding Furniture Stores Near Me for secure local shopping alternatives.

How Has Martin Lewis’ Campaign Against Code Sharing Developed?

1. 2022: Initial MSE alert launched in collaboration with Action Fraud, flagging 2FA code-sharing as a primary vector for APP fraud.
2. Late 2022: Joint campaigns between MSE and national fraud reporting centers document surge in victims sharing codes with fake bank representatives.
3. 2023: Lewis’s warnings gain viral traction through social media, specifically targeting the “never share your code” message amid rising phone snatching statistics.
4. 2024: Continued emphasis on the threat, with Lewis responding to viewer Paula on ITV’s Money Show regarding IMEI numbers and post-theft banking security.
5. February 2025: Metropolitan Police data shows 1,000 phones seized in one month, prompting renewed emphasis on device identification and code security.
6. March 2024-March 2025: Statistics confirm 78,000 phone theft cases in England and Wales, reinforcing the link between physical device theft and digital banking fraud.

What Is Certain vs. What Remains Unclear About These Scams?

Why Are Phone Security Codes a Critical Issue in UK Banking?

The UK banking sector’s rapid digitization has made 2FA codes the standard gatekeeper for millions of accounts. As transactions migrate to mobile devices, these six-digit numbers represent the final verification step for high-value transfers. Criminals understand that obtaining this code—rather than attempting complex hacks—offers the path of least resistance into secured accounts.

Martin Lewis’s authority on consumer finance amplifies the message’s reach. Through MSE and regular ITV appearances, he reaches demographics that traditional fraud warnings might miss. His specific advice regarding IMEI number preservation addresses the intersection of physical crime (phone theft) and digital fraud, acknowledging that modern scams often begin with a stolen device on the street and end with emptied savings accounts online.

The economic context matters too. With consumer finances stretched, the impact of losing access to 2000 Euros in Pounds equivalent can be devastating for households. This reality drives the urgency behind Lewis’s zero-tolerance stance on code sharing.

What Authorities Support Martin Lewis’ Warnings?

“Never share your phone security code with anyone—not even your bank. If someone asks for it, they are a scammer.”

— Martin Lewis, via MoneySavingExpert and ITV Money Show appearances

Authorized Push Payment (APP) fraud reports indicate victims increasingly approve fraudulent transactions after sharing authentication codes with criminals posing as bank security teams.

— Action Fraud and Which? consumer analysis, 2022-2024

Biometric authentication for banking apps must be enabled separately from device lock screens to prevent unauthorized access following phone theft.

— Martin Lewis technical guidance, ITV Money Show Live

What Is the Key Takeaway From Martin Lewis’ Security Code Advice?

Treat your phone security code as you would the PIN for your bank card—absolute secrecy is the only protection. Martin Lewis’s campaigns reinforce that legitimate institutions will never request these codes, and any request constitutes a scam. Combine this vigilance with practical steps: secure your IMEI number, enable biometric app locks, and verify all unsolicited contact through official channels. In an era where a single six-digit mistake can cost your savings, skepticism is your strongest defense.

Frequently Asked Questions