A WICHITA resident was told her bank account was being flagged for possible fraud in a scam that caused her to nearly lose $2,000.
Karen Terrill said the scammers knew her name and number before she received word from her bank that she was being charged for a purchase made in Texas.
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When Karen Terrill received a phone call from a recognizable area code, she trusted the voice on the other end, claiming to be someone from her bank.
The caller told Terrill he wanted to report a fraudulent purchase on her account and asked if she had purchased anything recently in North Carolina, the local CBS affiliate reported. KWCH.
Terrill told KWCH that the conversation “seemed normal” as the caller revealed they knew his personal information, such as the last four digits of his debit card.
When Terrill said he had not purchased anything in North Carolina, KWCH reported that the caller asked to send him a verification code to prevent the payment from going through.
This verification code turned out to be the caller’s way of tricking her.
“They were very calm,” Terrill told KWCH. “They knew my number, they knew my name, and they asked if I was who I was.”
Things quickly escalated after the conversation, when Terrill told KWCH she received a “text message” alerting her to a nearly $2,000 purchase made in Texas using her account.
According to the Federal Trade Commission, banking scams like this involving verification codes are very common, KWCH reported.
The protocol typically includes scammers offering help to customers to convince them that their money has been stolen.
When scammers receive this type of personal information, they can easily break into an account and transfer money.
“When I talk to people about what happened, they say, ‘If it can happen to you, it can happen to anyone,’” Terrill said.
After the incident, Terrill told KWCH he closed his debit card the next day.
But for her to file a dispute, she was told that nearly $2,000 would have to come out of her account first, KWCH reported.
The US Sun frequently covers phone scams that have resulted in a series of losses.
An elderly Georgia resident was left devastated after being convinced to withdraw $20,000 from her bank account.
Phone scam statistics
Americans are bombarded with three billion spam calls per month. What are the numbers regarding the number of victims and the amount of money lost to fraudsters
- In 2022, Americans lost an estimated $39.5 billion to phone fraud, with 68.4 million US citizens affected, according to TechReport.
- The average phone scam victim lost $567.41 each in 2021, a huge increase from the figure of $182 per victim in 2021, according to Hiya.
- Most scams happen over the phone, with fraudsters twice as likely to call compared to text in 2021, as the Federal Trade Commission (FTC) reports.
- In 2021, the US saw a 56% increase in spam phone calls, with 60% of those robocalls.
- US residents receive an average of 18 spam phone calls per month, although some experts believe the real number could be as high as 31 per month.
- Many phone calls from reputable companies can be mistakenly marked as spam, but 38% of companies have no idea whether they are being marked as “potential fraud” or not, according to Hiya.
- Never provide personal or financial information if you suspect a phone call is a scam. For example, your bank will never ask for these full details over the phone.
- To reduce spam calls and scams, sign up for the Do Not Call Registry. Telemarketers, by law, will need to check this list before calling you.
- Downloading third-party apps like Hiya, Nomorobo or Truecaller can help filter annoying spam calls.
- Try not to share your phone number unless necessary, especially online or with sketchy sources.
The woman also complained about a persuasive caller who offered her advice on how to protect her money.
Meanwhile, another woman is fighting to recover the $17,382 she lost after a single suspicious phone call.
Despite being an employee of the Bank of Montreal for over 40 years, Angela Feng was still denied a refund for providing her banking information.
“I’m not going to give up because it’s a lot of money. I don’t want to lie down and play dead. I want them to give me my money back,” Feng said. CTV News Toronto.
Anyone who feels they have been scammed can report fraud through the FTC at ReportFraud.ftc.gov.
This story originally appeared on The-sun.com read the full story
