Being cautious and vigilant is the best defence against would be bank investigator frauds.
That’s according to Bancroft OPP, as they remind the public that Canadians reported to the Canadian Anti-Fraud Centre losses of more than $28 million last year.
Police say only five to 10 per cent of victims report the fraud.
OPP warn of increasingly sophisticated fraud schemes in which criminals impersonate financial institutions, law enforcement agencies, credit reporting bureaus, and online retailers to try and gain access to victims’ bank accounts and steal money.
The attempted fraud could come in the form of a phone call or text from a trusted institution including a bank, law enforcement, a credit bureau, or a large company.
The caller advises that suspicious or fraudulent transactions have been detected on the victim’s account and claims that an urgent investigation is underway. Victims are directed to withdraw their funds from their financial institutions and provide the funds to a courier who will attend the residence. Victims may be told to place their bank cards and or credit cards in an envelope with their personal identification number to have their cards replaced.
Police advise not trusting caller ID as criminals can spoof phone numbers to make calls appear legitimate. They also note that credit bureaus do not make unsolicited calls about account security.
Banks, government agencies, and police will never threaten arrest or demand immediate action over the phone.
If you suspect you’ve been the victim of cybercrime or fraud report it to police at 1-888-310-1122 and to the CAFC via the online reporting system or by phone at 1-888-495-8501. OPP encourage residents to discuss frauds with family members, particularly older adults and vulnerable individuals often targeted by fraudsters.
