A SENIOR lost thousands of dollars in a bank scam after she believed she was helping out her bank and doing everything right.
Ellen Hickton from Ontario, Canada, was targeted by sophisticated scammers last year.
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The senior citizen explained how her “brain froze” after receiving a concerning phone call from someone she believed worked for her bank, CIBC.
Hickton was “terrified” after being told that her bank account had been “compromised,” she told CTV News.
The scammer on the phone purported to be from CIBC and told Hickton that she was looking into a scammer who had targeted her account.
“As soon as she said that, I went into panic mode. My brain froze. I was just like terrified,” she told the news outlet.
Hickton’s daughter, Kendra added that her mother had no doubts about the person on the other end of the phone and believed she was helping the bank investigate the fraudster.
In order to help in the alleged investigation, Hickton was given instructions to follow over the phone.
These included withdrawing money, buying gift cards worth thousands of dollars, and investing in Bitcoin.
“She said we will put money into your account. It’s not your money coming out,” Hickton recalled.
In the end, she spent $16,542 (USD 12,195.84) which she never saw again.
“Nobody warned me at the bank when I was taking out this money,” the senior said.
“This is my bank. I said to them you’re supposed to be looking out for me and protecting me,” Hickton added.
Meanwhile, her daughter called the situation “very disheartening.”
“She is a senior, and she doesn’t have a ton of money, and this could have life-changing implications for her,” Kendra said.
The bank spoke to the news outlet in response to its inquiries and warned that scammers are increasingly pretending to be official and trusted members of organizations to dupe victims.
“We’re working with our client to review this matter,” CIBC said in a statement to CTV News.
Top tips on avoiding scams from a bank
As scams become more sophisticated with the use of artificial intelligence, it is important you know how to spot a scam and how to avoid them.
- Be skeptical of online deals that seem too good to be true, especially on social media.
- Scammers will often use tactics to make you panicked so you make quick decisions – be cautious if you are told to take immediate action and verify who has contacted you.
- Chase Bank warns customers to “never return any unexpected funds without calling Chase first.”
- Never send money to someone you have only spoken to online or by phone as this is likely a romance scam.
- Unless you 100% know who you are talking to, never give someone remote access to your device.
- Never accept help from strangers at an ATM and always be vigilant when making withdrawals.
- Do not send money or click any links indicating that you have won a prize.
Source: Chase.com
The bank clarified that customers will never be asked to help out in a fraud investigation.
In addition to this CIBC will not ask for electronic money transfers or those done via cryptocurrencies.
Neither will it ask customers to purchase gift cards.
CIBC warned that customers must be up-front and honest with the bank when making a payment, transfer, or withdrawal as it is harder to retrieve the money once such an action has been processed.
Some scammers will tell victims to lie to their banks and CIBC tells its customers to end any unusual call and phone back on the official number on the website or reverse of your card.
The U.S. Sun has reached out to CIBC for comment.
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