BC Freedom of Information and Privacy Association
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The Halton Police have reported a rise in a new variation of the bank investigator scam over recent months. Fraudsters use fraudulent phone numbers to contact unsuspecting victims. The scammers claim to represent financial institutions, duping individuals into sending money under the pretense of protecting their accounts.
HRPS investigators have provided detailed information about how this scam works and tips on how to stay safe. In these cases, the victim typically receives a phone call from a fraudster posing as a bank employee. The caller informs the victim that suspicious activity has been detected on their account and advises them to use their mobile banking app to send a maximum amount of e-transfer to themselves. However, instead of protecting their funds, the victim is asked to share a URL or link with the scammer, which allows the fraudster to divert the transferred funds.
In many instances, scammers are able to make the calls seem legitimate by providing some of the victim’s personal information, such as their name, date of birth, or even parts of their debit or credit card number. A common tactic fraudsters use is sharing the first four digits of the card, which are often the same for many cards issued by specific financial institutions.
To help the public avoid falling victim to this scam, HRPS has highlighted several warning signs. First and foremost, financial institutions will never request help from the public for internal investigations. Additionally, criminals often use call-spoofing technology, so the display’s phone number may be inaccurate. If you receive a suspicious call, HRPS advises hanging up and calling your bank back using the number on the back of your card, preferably from a different phone or after waiting ten minutes.
The police also emphasize that financial institutions will never ask you to transfer money to an external account or share payment links via text or email. Always avoid sharing personal codes or URLs sent via text or email; never give remote access to your device. Fraudsters often prey on confusion or urgency, so it’s essential to stay alert, check bank statements frequently, and report any irregularities to your bank immediately.
Other key tips include never providing personal or financial information over the phone unless you initiate the call, and avoiding purchasing gift cards or cryptocurrencies like Bitcoin as forms of payment. Once a fraudster gains access to a gift card code, it cannot be recovered or traced.
HRPS urges residents to stay vigilant and protect themselves from these increasingly sophisticated scams.
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