True Crime: Paul's encounter with a phone scam

Scammers will use familiar scenarios to convince their victims of their legitimacy. In this case, a man named Paul was tricked into thinking he was dealing with his cable company when in fact, it was a scam.

While the name of the victim has been changed, and he was not a SAFE member, his encounter is unfortunately similar to those heard by local financial institutions and their members everyday. This is Paul's story in his own words:

"I was contacted by phone. The perpetrator was able to convince me that he was working for the cable company and that my internet (IP address) had been compromised. I was to help him by sending money overseas. This trap would catch the 'hackers'. He would deposit money into my savings account. I would then use that money to send it overseas via MoneyGram at the local 7-Eleven Store. It was important that I did no internet banking during this time for security reasons. I did this several times until I became suspicious and checked my bank balances. He had been getting cash advances on my credit card and depositing the money into my savings account. I immediately reported to the bank."

Signs this was a scam

• The victim was phoned out of the blue by a caller claiming to be from a large and trusted organization.
• The caller claimed the victim’s computer was compromised. He also asked for account details and convinced the victim to send money overseas.

Avoid this type of scam

• Hang up on the caller.
• Refuse any request for remote access.
• Refuse to provide personal or bank account information to the caller.
• Refuse to transfer money from your account.