Police Warn of Bold Phone Scam Hitting Seniors in the GTA

Toronto Police Service are warning the public about a phone scam where fraudsters pose as bank investigators and target mostly seniors.

According to police, scammers call victims and claim to be from their financial institution’s fraud department. In many cases, the phone number appears to match the one on the back of the victim’s bank card due to caller ID spoofing. It’s easy to glance at your caller ID and think it’s your bank if you are distracted.

The scammers often already have detailed information about the person’s bank account. Victims are told there has been a suspicious transaction and are then asked to confirm personal banking details, including PINs and passwords.

In some cases, victims are instructed to click on links or follow other steps that give the scammers access to their accounts. A courier is then sent to the victim’s home to collect their bank cards. That’s when bad stuff happens.

Police stress the following reminders:

• Never ever share banking information, PINs, or passwords over the phone
• Real bank staff will never ask for sensitive information this way
• Banks do not send couriers to collect debit or credit cards

If you receive a suspicious call, hang up and contact your bank using a known number or visit a branch. Always call the number on the back of your card and verify yourself if your account actually has an issue.

If you have given out personal or banking information, you should contact a credit agency like TransUnion or Equifax to monitor your accounts.

Victims of this scam are being told to contact their local police and report the incident. Anyone with information can also call police at 416-808-2222 or leave an anonymous tip through Crime Stoppers at 416-222-TIPS or www.222tips.com.

Fraudsters are getting way more sophisticated nowadays. For the most part, gone are the old CRA scams where victims are told to buy and send iTunes gift cards.