What happened, Whitney?
Whitney: A customer came into the bank wanting to withdraw $17,500. The teller assisting her came into my office to ask if we should handle that large of a withdrawal. I asked if the teller knew what the money was for and the customer said it was for buying a car. I noticed that she was already driving a newer vehicle, so something wasn’t adding up.
Sounds like you were on high alert that something felt off about the situation. What did you do next?
Whitney: I started coaching the teller to ask additional questions, such as where she was getting the car from, what kind of car it was, and if they would accept a cashier's check instead of cash. Before the teller could ask the second question, the customer wanted to talk to me privately because she didn't feel comfortable answering the questions.
How did the conversation with the customer go?
Whitney: The customer came and sat with me. I introduced myself and said, "Sounds like you're buying a car! That's exciting!" She responded with a shaky voice, "Ahhh yeah..." I noticed she didn't look sure, so I asked if she was really buying a car. She looked at me blankly. I asked if she could tell me what was really going on.
What did the customer reveal next?
Whitney: She told me that someone named Chad who said he was from the Horicon Bank fraud department had instructed her not to say anything. Chad told the customer to say she was buying a car and to act normal. I informed her that we don't have a Chad in our fraud department and asked her to tell me the whole story.
Yikes! Your instincts were right? So what was the whole story?
Whitney: She said that a message popped up while she was on Facebook, claiming she had viruses and instructing her to call a phone number. She did, and spoke to "Macintosh Security," who told her she had seven hackers on her computer doing bad things. They had her pull out her bank statement and asked if there was a fraud alert number on it. She gave them the number, and they said they would call it and have "Horicon Bank" call her with the next steps. "Chad" from Horicon Bank then called her and said that scammers were in the process of sending $17,500 out, and she needed to send the same amount in Bitcoin from a place in Hartford to stop it.
These scammers were sophisticated! How did you handle the situation?
Whitney: I assured her that none of this was real and that we do not have a Chad working for us that would ask her to send money via Bitcoin. She insisted that Chad was on the line in her car from the exact same number reflected on the bottom of her statement. I explained that when she gave them the number, they recreated, or spoofed, it to make her believe it was Horicon Bank. I went over all the necessary steps to ensure nothing was compromised, and thankfully, it wasn't.
Wow! That could have been a big loss for the customer. How did she feel after you reassured her that this was a fraudulent situation?
Whitney: After going over the story a few times, she believed me and decided not to withdraw the money. I gave her my card and told her that if in doubt, she should hang up and call me. She thanked me repeatedly for saving her from sending the money.
For people that might find themselves in a similar situation, what are tips to avoid such scams?
- Verify the Source: Always verify the identity of the person or organization contacting you. Use official contact information from their website or your records. Phone numbers can be easily spoofed to look real. Hang up and call the organization directly.
- Be Skeptical of Urgent Requests: Scammers often create a sense of urgency to pressure you into making quick decisions. Take your time to verify the information.
- Don't Share Personal Information: Never share personal or financial information over the phone or online unless you are certain of the recipient's identity.
- Use Secure Channels: Communicate through secure and official channels. Avoid clicking on links or calling numbers provided in unsolicited messages.
- Consult with Trusted Individuals: If something feels off, consult with a trusted banker before taking any action. Unfortunately, bankers see these situations far too often and we know what to look for. When we ask questions, it’s not to make you feel uncomfortable or ashamed, it’s to help protect you.