Penticton man warns others after falling victim to banking scam
Warning after $8,500 scamPhoto: Pixabay stock imageWatch out for scammersA Penticton man is warning others to be vigilant after a scammer posing as Scotiabank's fraud department stole $8,500 from his. . .
Warning after $8,500 scamPhoto: Pixabay stock imageWatch out for scammersA Penticton man is warning others to be vigilant after a scammer posing as Scotiabank's fraud department stole $8,500 from his account. Macus Ong told Castanet he received a phone call at the start of May from a number that came up as Scotiabank, with the caller stating that they were from the company's fraud alert department. They told Ong that someone in Ontario was trying to access his online account. "She walked me through what I thought was the bank's own security check, right, with all the security questions," he said. "She even recited to me recent transactions that I made and sent me to a website that looked exactly like Scotiabank's login page. "He said he was off-site working and had limited cell reception when he received the call, and started panicking due to concern about losing personal savings. "I was told the scammer had accessed my online banking account and changed my login information and credentials," Ong said. From there, they told him they would need to work with the investigation team to help him gain access back to the online banking account. Ong said he was directed to a website that displayed a Scotiabank login page, and the scammer guided him "through the authentication process. ""I signed in using my username and password. The authentication process involved entering my debit card PIN and my credit card expiry date and CVV. "These calls continued over several days, warning him that others were trying to access his savings account and Line of Credit (LOC). They discouraged him from changing his password, but Ong did so later from his banking app. "At the time, I believed the bank had helped restore access to my online banking and mobile app," he said. The scammers called again, getting his banking info and passwords. At one point, Ong said he could see money had been taken out of his LOC and moved into his chequing account. When Ong called back to investigate, the scammers reassured him that they were working on reversing the charges. And when he followed up the next day, he received a message that the number was not in service. Spoofed and scammed"At that point, I panicked and realized I had been scammed by scammers who claimed to be Scotiabank," he said. "I called the official Scotiabank number located on the back of my Scotiabank card, reached fraud services and explained everything that happened, including the questions asked, and the authentication processes the scammers guided me through. "Scotiabank then blocked all access to my online banking accounts, terminated all my cards and LOC, and filed a report to the investigation team. "Ong said he was distressed to learn he had lost $8,500, which he had been saving to use to bring his mom out for a visit. At this time, Ong said he's been told by Scotiabank that the loss is on him. "The public interest lies within caller-ID spoofing, and lookalike banking sites are trapping careful, capable people. If it can happen to me, a very meticulous and methodical person who thought he was careful, it can happen to anyone in and beyond the valley," he said. "And it raises a fair question: when a bank's own identity can be perfectly faked, is it reasonable for the customer to carry 100 per cent of the loss?"Scammers are "more sophisticated"Castanet reached out to Scotiabank about Ong's incident, to which a spokesperson provided a statement on the matter. “Protecting our customers is a top priority for Scotiabank. We take all reports of fraud and scams very seriously. Each case is carefully reviewed based on the specific circumstances, including the steps taken to safeguard the account," they said. "While we cannot comment on individual client matters, we invest heavily in prevention, detection, and customer education to help Canadians recognize and avoid phishing and bank impersonation scams. "These are also some recommendations on how to identify the bank’s actual department for contacting people if there is suspicious activity. "If you receive a call claiming to be from your bank that asks you to reveal PINs, passwords, or other sensitive information, hang up and call the number on the back of your debit or credit card. "Scotiabank said fraudsters will try to pressure people into disclosing sensitive information by sharing their bank card, logging into fake websites, or accessing a device remotely — all in the name of “investigation” or “security. ”It's getting more common for fraudsters to reach out by phone using caller ID spoofing, hiding their name and phone number. Scotiabank said that while scammers are getting more sophisticated, so are the tools you can use to protect yourself. More tips and resourcescan be found online here. Photo: ScotiabankHere’s what the bank won’t ask for when they contact you. Fraudsters "constantly evolving"Ong also reported the incident to the RCMP, who also warned the community recently about a new fraud in the area involving popele posing as public officials or trusted institutions. RCMP Media Relations Officer Cst. Kelly Brett said in an emailed statement that they are unable to comment on specific files or individuals, but the Penticton RCMP receives multiple reports of fraud and scam-related incidents each week. "The methods used by fraudsters are constantly evolving and can range from impersonating financial institutions and government agencies to tech support scams, investment scams, and online marketplace frauds," she said. "Unfortunately, financial losses can vary significantly from case to case, with some victims losing hundreds of dollars while others lose thousands. "The RCMP continues to encourage the public to be wary when receiving unsolicited phone calls, emails, text messages, or social media messages requesting personal or financial information. "If someone claims to be calling on behalf of a company, bank, or government agency, residents should independently verify the request by contacting the organization directly using a phone number obtained from an official source. "For further safety tips on fraud and scams, the RCMP encourage people to visit theirwebsite online here. Photo: Marcus OngCall log with scammers that spoofed Scotiabank's caller ID