Federal authorities are warning consumers about sophisticated phone scams in which fraudsters impersonate bank employees or law enforcement officials to convince victims to transfer money from their accounts.
The FBI has described spoofing calls as a growing problem that has cost victims thousands of dollars. Scammers use caller ID spoofing to display legitimate bank phone numbers, then claim the customer’s account has been compromised.
Chase customer Jennifer Lichthardt lost $40,000 after receiving such a call. “The first call I got was the number on the back of my Chase debit card, and it said Chase fraud department,” she told ABC 7. The scammers knew her account number, balance, and other personal details, making the request seem credible.
Lichthardt was persuaded to move nearly $40,000 into a new “secured” account at her local branch and transferred additional funds to another online bank. The money disappeared shortly after.
Chase stated in a press release: “We urge all consumers to ignore phone, text, or internet requests to move money or gain access to their computer or bank accounts. Banks and legitimate companies won’t make these requests, but scammers will.”
The Federal Trade Commission advises that any request to move money to “protect” it is a scam. “Never transfer or send money, cryptocurrency, or gold to someone you don’t know in response to an unexpected call or message,” the FTC website states.
Huntington Bank customer Susie Allgood also fell victim to a similar scheme. A caller claiming to be from Zelle convinced her to send $5,000 to “protect” her account. “He already had my routing number,” Allgood said. “Why would I not believe him?”
Criminals obtain banking information through the dark web or by searching through discarded documents. They can then call a bank’s automated system to access account balances and recent transactions.
“When somebody calls pretending to be the FBI, the victim thinks they are in trouble. They are already frazzled, and criminals rush them to make quick decisions,” said Robert Richardson, a special agent with the FBI Chicago Field Office.
Banks typically cover unauthorized fraud, such as stolen debit card information. However, customers who voluntarily transfer money to scammers often have limited recourse. Suspected cyber-enabled scams can be reported through the FBI’s Internet Crime Complaint Center.