Today’s post will be a little different from the norm. It may be a little long, but I implore you to read it as it may save you or a loved one some financial hardship. Recently someone I know very well was the victim of fraud. Someone took advantage of this person’s trust and lack of proficiency with technology. This is an issue that affects way too many people each year. We hear about it on the news all the time. And I’m sure, like me, you probably said, “How did they fall for that?” Well, it’s easier than you would think under the right circumstances.
Over the years, I have seen the impact these criminals have on good people. I’ve seen college kids fall for it as well as older adults. I’ve almost been tricked myself. These criminals cast a wide net because under normal circumstances, they know how hard it is to find someone to fall for their bag of tricks. Their target is usually someone older or less tech-savvy. There are many ways these criminals initiate their attack. One way is to get them to click on an online link and make it appear as if their device is infected with malware. Malware or malicious software is software installed on a device for harmful intent. It could be used to spam you with ads or worse, take over your device. In this case, as in most instances, the criminals made it easy to get immediate help by providing a phone number to call them to fix the problem. That’s where they set the hook!
Once they have you on the phone, they will pressure you to act quickly by saying things like, “We must hurry before the hackers get all your money! They may even try to embarrass you by saying things like, “we see your money is already being spent on porn and gambling sites”. In this case, they referred this person to another phone number supposedly with the federal government to start a case file. When they called the number, they were told of an elaborate plan to save all the person’s money by consolidating it into one account. To do it, they needed all the banking and credit card information to transfer the funds for safekeeping.
Again, how could someone fall for this? Sometimes it is as simple as having trust in people, including the government. This person gave them all their financial information, again trusting that the person on the other end of the phone was legit.
I know at this point, many of you are shaking your head. Again, “How could someone fall for this?” It gets worse. At this point the criminal said, “I can see you’re having trouble getting the information we need. If you install these apps, we can help you easier”. That’s when they installed RealVNC —a legitimate remote-access app that, in the wrong hands, lets a criminal control your phone remotely. Game, set, match.
That’s when I got the call asking for help. I could hear the woman with a thick foreign accent on the phone pressuring this person to do as she said and not to listen to anyone else. She threatened to send the Sheriff to prove she was legitimate. Silly, I know. My first instruction was to hang up the phone! Do not say anything further. We immediately began closing all of this person’s bank and credit card accounts.
I am happy to say it appears this person only lost a couple hundred dollars before we were able to close everything. The attempt to take the rest of this person’s money was stopped by closing the accounts. We were quicker than they were. The banks and credit card companies are very familiar with these schemes and were very helpful to us. The local police department was also helpful to us.
How do we protect the vulnerable to such criminal activity? We educate them. We let them know about these incidents. Yes, it can be quite embarrassing. But the more we get the word out, the better the chances we have of preventing this from happening to someone else.
There are many resources out there. Here is what Gemini provided me:
IdentityTheft.gov: The Federal Trade Commission’s (FTC) “one-stop shop.” It helps victims report the crime and provides a personalized, step-by-step recovery plan.
National Elder Fraud Hotline: Call 1-833-FRAUD-11 (1-833-372-8311). This is a free DOJ resource for people age 60+ to report fraud and get assigned a dedicated case manager.
FBI Internet Crime Complaint Center (IC3): Best for reporting online-specific scams, such as tech support fraud or “grandparent scams” that happen via email or social media.
My advice:
Spread the word and educate those most vulnerable. Have the tough conversation.
If you are contacted by these criminals, hang up. If you are threatened that law enforcement will come arrest you, let them come. You are not the criminal.
Never, never, never give out your personal information over the phone! Your banking information is as important as your social security number.
Encourage your older friends and loved ones to be open about the interactions they have online and on the phone.
Check their accounts if they let you and stay vigilant.
I know this was a long read. I appreciate you taking the time to do it. I’ll continue to share some of their tricks to help you recognize them. If this can help keep one person safe from fraud, then we have succeeded. Let’s talk to our friends, family and clients and help keep their finances safe from fraud.
Over the years, I have seen the impact these criminals have on good people. I’ve seen college kids fall for it as well as older adults. I’ve almost been tricked myself. These criminals cast a wide net because under normal circumstances, they know how hard it is to find someone to fall for their bag of tricks. Their target is usually someone older or less tech-savvy. There are many ways these criminals initiate their attack. One way is to get them to click on an online link and make it appear as if their device is infected with malware. Malware or malicious software is software installed on a device for harmful intent. It could be used to spam you with ads or worse, take over your device. In this case, as in most instances, the criminals made it easy to get immediate help by providing a phone number to call them to fix the problem. That’s where they set the hook!
Once they have you on the phone, they will pressure you to act quickly by saying things like, “We must hurry before the hackers get all your money! They may even try to embarrass you by saying things like, “we see your money is already being spent on porn and gambling sites”. In this case, they referred this person to another phone number supposedly with the federal government to start a case file. When they called the number, they were told of an elaborate plan to save all the person’s money by consolidating it into one account. To do it, they needed all the banking and credit card information to transfer the funds for safekeeping.
Again, how could someone fall for this? Sometimes it is as simple as having trust in people, including the government. This person gave them all their financial information, again trusting that the person on the other end of the phone was legit.
I know at this point, many of you are shaking your head. Again, “How could someone fall for this?” It gets worse. At this point the criminal said, “I can see you’re having trouble getting the information we need. If you install these apps, we can help you easier”. That’s when they installed RealVNC —a legitimate remote-access app that, in the wrong hands, lets a criminal control your phone remotely. Game, set, match.
That’s when I got the call asking for help. I could hear the woman with a thick foreign accent on the phone pressuring this person to do as she said and not to listen to anyone else. She threatened to send the Sheriff to prove she was legitimate. Silly, I know. My first instruction was to hang up the phone! Do not say anything further. We immediately began closing all of this person’s bank and credit card accounts.
I am happy to say it appears this person only lost a couple hundred dollars before we were able to close everything. The attempt to take the rest of this person’s money was stopped by closing the accounts. We were quicker than they were. The banks and credit card companies are very familiar with these schemes and were very helpful to us. The local police department was also helpful to us.
How do we protect the vulnerable to such criminal activity? We educate them. We let them know about these incidents. Yes, it can be quite embarrassing. But the more we get the word out, the better the chances we have of preventing this from happening to someone else.
There are many resources out there. Here is what Gemini provided me:
IdentityTheft.gov: The Federal Trade Commission’s (FTC) “one-stop shop.” It helps victims report the crime and provides a personalized, step-by-step recovery plan.
National Elder Fraud Hotline: Call 1-833-FRAUD-11 (1-833-372-8311). This is a free DOJ resource for people age 60+ to report fraud and get assigned a dedicated case manager.
FBI Internet Crime Complaint Center (IC3): Best for reporting online-specific scams, such as tech support fraud or “grandparent scams” that happen via email or social media.
My advice:
Spread the word and educate those most vulnerable. Have the tough conversation.
If you are contacted by these criminals, hang up. If you are threatened that law enforcement will come arrest you, let them come. You are not the criminal.
Never, never, never give out your personal information over the phone! Your banking information is as important as your social security number.
Encourage your older friends and loved ones to be open about the interactions they have online and on the phone.
Check their accounts if they let you and stay vigilant.
I know this was a long read. I appreciate you taking the time to do it. I’ll continue to share some of their tricks to help you recognize them. If this can help keep one person safe from fraud, then we have succeeded. Let’s talk to our friends, family and clients and help keep their finances safe from fraud.
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