A Massachusetts woman received a call from someone claiming another person had walked into her bank and tried to impersonate her. By the next morning, she was standing inside her real bank wiring $56,000 to scammers.
The 43-year-old Hingham resident was told that her account had likely been compromised and that her money needed to be moved into a new, supposedly safe account, according to Fall River Reporter.
Once the $56,000 was sent, they assured her that an investigation was underway.
She questioned the transaction afterward and even called back to ask whether she was being scammed. The caller again convinced her the money was protected. Hours later, she contacted her local bank directly and learned the entire story had been fabricated.
The Caller Pretended to Be From Her Bank’s Fraud Department
The scam began around 6 p.m. on Aug. 11 with an unsolicited phone call, according to the Hingham Police Department. The person claimed to work in the fraud department at the woman’s local bank and told her someone had come into a branch earlier that day pretending to be her. The supposed impostor had tried to make a wire transfer but had been stopped, the caller said.
Because the bank was already closed, the caller said someone would contact her again the next morning with instructions. The follow-up call came around 9 a.m. on Aug. 12. The woman was told to visit her local branch and transfer her money into a “new safe account” that would supposedly protect it while the fraud investigation continued.
The scammer instructed her to remain on the phone as she entered the bank. She then completed a $56,000 wire transfer using the account information she had been given. Once the transfer was finished, the scammers assured her they were conducting an investigation.
She Asked the Caller if She Was Being Scammed
The woman did not stop questioning the situation once the wire was complete. She called the people she had been speaking with a short time later and specifically asked whether she was being scammed. According to police, the caller reassured her that her money was covered by the “FDC up to $250,000.”
FDIC deposit insurance protects eligible deposits if an insured bank fails; it does not insure consumers against losses caused by fraud or theft. The woman’s money had not been transferred into a protective account established by her bank.
A Direct Call to Her Bank Exposed the Scam
Hours later, the woman remained suspicious and contacted her local bank branch independently. That conversation finally established that the earlier callers were not handling a genuine fraud investigation. The $56,000 wire had been sent as part of the scam.
Hingham Police said the woman reported the scam on Aug. 12 and that the incident remains under investigation. No suspect was publicly identified in the initial police account.
Never Move Money Because a Caller Says It Will Keep Your Account Safe
The FTC warns that consumers should never move money to another account because an unexpected caller says doing so will “protect” it. Instead, hang up and contact the bank directly using the number on a bank statement, debit or credit card, or the institution’s official website.
Consumers should also be wary when a caller insists on remaining on the phone while they enter a bank or complete a financial transaction. Continuing the conversation can allow the scammer to control the victim’s decisions and discourage questions that bank employees might otherwise answer.
The FTC recommends contacting the bank immediately, reporting the fraudulent transfer and asking whether the wire can be reversed. The incident should also be reported through the FTC’s ReportFraud.ftc.gov and to local law enforcement.