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  Geebo 9:00 am on December 5, 2024 Permalink | Reply
  Tags: bank fraud ( 26 ), bank scam ( 72 ), chip cards, couriers, debit cards ( 15 ), Scams ( 1,386 )   

  Latest Bank Scam Targets Card Chips 

  

  By Greg Collier

  Chip-enabled debit cards are designed to provide an extra layer of security for consumers, but scammers are now exploiting this technology in a startling new scheme that could drain your bank account. If you’re not careful, you could fall victim to this sophisticated fraud that combines phishing, spoofing, and clever social engineering.

  Here’s how the scam unfolds. It begins with an email or text message that appears to be from your bank, alerting you to an issue with your debit card. This message is quickly followed by a phone call, supposedly from your bank’s customer service team. Thanks to spoofing technology, the call looks legitimate, displaying the actual phone number of your bank.

  The caller claims there’s a problem with your card and instructs you to cut the card in half for security reasons, but keep the chip intact. They then explain that a bank representative or courier will come to your home to collect the chip for further investigation or replacement. When the ‘courier’ arrives, they use subtle but effective social engineering tactics to convince you to share your PIN. Once they have both the chip and your PIN, the scammers can easily install the chip into a new card and access your funds.

  This scam is particularly alarming because it leverages trust in your bank and creates a false sense of urgency. However, it’s critical to remember one key fact, no legitimate bank will ever send a courier to your home to address issues with your account. Any such request should be an immediate red flag.

  This isn’t the only scam involving so-called ‘couriers’. Fraudsters often use individuals posing as couriers to execute other schemes, such as fake lottery winnings or fraudulent purchases. In some cases, they may even recruit unwitting ride-share drivers to pick up and deliver items, adding another layer of confusion and detachment from the actual crime.

  To protect yourself, never share your PIN or other sensitive information with anyone, even if they appear to be from your bank. If you receive a suspicious call or message, hang up and contact your bank directly using the number on the back of your card. Additionally, never hand over your card chip or any other personal banking materials to someone claiming to be a representative of your bank.

  By recognizing the warning signs and refusing to engage with fraudulent requests, you can safeguard your finances and avoid becoming a victim of this alarming new scheme.

   

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  Geebo 9:00 am on November 7, 2024 Permalink | Reply
  Tags: couriers, Microsoft ( 21 ), police impersonation scam ( 65 ), Scams ( 1,386 ), tech support scam ( 51 ), US Treasury Department   

  A Vietnam Veteran’s Battle Against Cyber Fraud 

  

  By Greg Collier

  In a quiet Massachusetts town, a Vietnam Veteran found himself facing an unexpected and devastating challenge. What began as an ordinary day of browsing the internet spiraled into a financial catastrophe. A seemingly routine virus notification appeared on his computer screen, warning of urgent threats to his device. Trusting its legitimacy, he called the hotline provided, unknowingly stepping into a carefully crafted trap.

  On the other end of the line was someone posing as a representative from Microsoft. What followed was an elaborate scheme, involving a transfer to a supposed US Treasury Department agent who warned him of a fabricated money laundering investigation tied to his name. The veteran was coerced into withdrawing large sums of cash, believing it was necessary to protect himself and assist in the investigation.

  Over several months, the scammers managed to extract his life savings, amounting to $500,000. They went as far as visiting his home to collect the money directly, exploiting his trust and isolation.

  This tragic series of events left him not only without his savings but also burdened with debt, as the perpetrators convinced him to take out a substantial home equity loan. Throughout the ordeal, he was sworn to secrecy, further isolating him from those who could have offered guidance or intervention.

  Despite the financial devastation, the local community has stepped in to support him. Neighbors and friends, moved by his plight, organized a fundraising effort to help him regain some of what was lost. Although the funds raised cannot fully replace his savings, they serve as a powerful reminder of the compassion and solidarity that can emerge in times of crisis.

  The investigation has led to the indictment of one individual connected to the scheme, but the majority of the stolen funds remain unrecovered. While authorities continue their pursuit of justice, the veteran’s focus now shifts to rebuilding his financial stability and finding solace in the support of those around him.

  This incident highlights the pervasive threat of cyber fraud and the sophisticated tactics used by scammers. Unsolicited pop-ups or urgent messages should always be treated with caution. Verifying claims through official channels and seeking advice from trusted individuals can act as critical safeguards.

  The veteran’s experience serves as a poignant reminder of the vulnerabilities that exist in an increasingly connected world. Yet, it also showcases the resilience of the human spirit and the strength found in community support during even the darkest of times.

   
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  Geebo 8:00 am on June 7, 2024 Permalink | Reply
  Tags: bank scam ( 72 ), couriers, impersonation scam ( 148 ), Scams ( 1,386 )   

  More scammers show up at the doors of the elderly 

  

  By Greg Collier

  An elderly North Las Vegas resident recently fell victim to a sophisticated scam, resulting in the loss of thousands of dollars within minutes. The scam began with a call from what appeared to be her bank. The resident noticed suspicious activity in her account after receiving the call. Upon checking her online banking account, she discovered two fraudulent charges amounting to thousands of dollars. The caller, pretending to be a bank representative, informed her that immediate action was needed to secure her account.

  The caller explained that due to increased fraud, they would send a courier to collect her card. Within ten minutes, a supposed courier arrived at her front door with a fictitious access code. Believing the situation to be legitimate, she handed over her card. The scammer, captured on video, cut the card in half and placed it in an envelope.

  The scammers had all her information, including her address, which they confirmed with her. She remained on the phone with the initial caller throughout the exchange. However, moments after handing over her card, she was locked out of her online bank account. Realizing something was amiss, she promptly hung up the call.

  She immediately contacted her real bank, closed her accounts, and changed her passwords. Despite her quick response, nearly $9,000 had already been stolen. The bank confirmed that the scammers had already infiltrated her account when they first made contact. Obtaining her card’s chip was merely the final step in their elaborate scheme. She remains hopeful that her bank will reimburse the stolen $9,000, but has yet to receive the funds.

  Protecting yourself from scams, especially sophisticated ones like the one described, requires a combination of awareness, skepticism, and proactive measures. Here are some steps to safeguard against such scams.

  Always verify the identity of the caller by hanging up and calling your bank directly using a phone number from their official website or your bank statement. Scammers often create a sense of urgency to prompt hasty decisions. Be wary of any call that requires immediate action, especially if it involves your financial information.

  If someone shows up at your door claiming to be from your bank or any other service, do not hand over any personal items or information. Verify their identity by contacting the organization directly.

  By taking these precautions, you can significantly reduce the risk of becoming a victim of scams and protect your personal and financial information.

   
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  Geebo 8:00 am on October 7, 2022 Permalink | Reply
  Tags: bail scam ( 15 ), bond scam ( 2 ), couriers, grandparent scam ( 69 ), Scams ( 1,386 )   

  Dangerous scam continues to target seniors 

  

  By Greg Collier

  If recent news reports are anything to go by, more and more scammers are resorting to the grandparent scam. It seems like every day, there is a news report from a police department or sheriff’s office warning their residents about this scam. Usually, after someone has already fallen victim to the scam. It’s becoming such a common occurrence that the scammers have almost perfected the scam and have any answer the victim might have about the scam.

  For example, an elderly woman from New Jersey was having trouble getting in touch with her grandson. Before she could get a hold of him, scammers called her, posing as her grandson. The phony grandson said he was in trouble and had a broken nose and split lip. Scammers will say their face is injured to explain why they don’t sound like the actual grandchild.

  The phony grandson told the woman that he was in jail because he was involved in a car accident with a woman who was eight-months pregnant. This is often told to victims to make the situation appear more serious and appeals to the victim’s emotions, hoping that the victim thinks less clearly.

  The woman offered to call the grandson’s father, but the scammer begged her not to, with the only explanation being “I’ll explain later”. Scammers do this to isolate the victim from contacting anyone else, which would potentially tip the victim off to this being a scam.

  The woman was instructed to call a phone number which was supposed to be a public defender’s office. This was just another part of the scam. She was told she needed to pay $8000 in cash to bail out her grandson. She offered to pay with a credit card, but was instructed it had to be cash. Grandparent scammers usually ask for cash, since there will be no paper trail once the money has been handed over.

  She was also told that these proceedings were under a gag order, and she could not tell anyone about them. Again, this is done to isolate the victim. Gag orders do not work in this way and are usually given to the participants of a trial.

  She went to her bank and got the $8000 and was told to put it in a shoebox full of magazines. We imagine this is done in an attempt to hide the money from police in case the scammer is pulled over, but any cop worth their salt would find the money fairly quickly.

  Then someone posing as a courier came to her house, claimed the box and drove off. Local police are now searching for the supposed courier.

  Two hours after this all happened, her actual grandson called her and told her he had not been in jail.

  One of the best ways to protect yourself from this scam is to ask the ‘grandchild’ only something they would know. When confronted with questions like this, scammers tend to hang up. You can also hang up from the phone call and try to call the person who has been supposedly arrested. No one ever got more jail time from being hung up on. Lastly, you can also call the police department that supposedly arrested them. They’ll be more than happy to assist you and will let you know if you’re being scammed.

   
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  Geebo 8:00 am on June 9, 2022 Permalink | Reply
  Tags: couriers, grandparent scam ( 69 ), moneygram ( 5 ), Scams ( 1,386 )   

  Why are grandparent scammers showing up at the door? 

  

  By Greg Collier

  The police in a Maine resort town recently reported two separate instances of the grandparent scams, where two victims had been taken for a combined $30,000. In both of these instances, the scammers posed as couriers who picked up the money in person.

  Unfortunately, the grandparent scam has been finding victims for some time now. For new readers, the grandparent scam is when scammers will call an elderly victim posing as one of the victim’s grandchildren. They’ll claim they’re in some kind of legal trouble and need money for bail or other legal fees. In numerous instances, the scammer posing as the grandchild will pass the call off to another scammer posing as an attorney, the police, or a bail bondsman to make the scam seem more believable.

  When the grandparent scam first started making headlines, the scammers were asking for their payment in gift cards or money transfer services like MoneyGram. More recently, the scammers have shown up at the victim’s homes claiming to be couriers to take the money to the supposed grandchild. One could assume that may be just so the scammers could get the money quicker. However, according to police from Maine, there are a couple of reasons why the scammers do this.

  When trying to collect money through a service like MoneyGram, the scammers still have to produce some form of identification. This requires the scammer to have false identification, which takes time and money. Showing up at the victim’s home requires neither. There’s also the perception that since a courier is picking up the money, the courier must be a local person, which adds credence to the scam. However, scammers posing as couriers are usually either from another part of the country or even overseas.

  If you or someone you know receives one of these phone calls, it’s best to hang up and contact the person the scammers are claiming to be. Scammers will try to pressure you into staying on the line, however, if someone is truly in legal trouble, it’s not going to make matters worse if you verify their story.

  As always, we ask that if you know an elderly person or couple who live alone and may not have access to the internet, please let them know about this scam.