Police have sent out a warning to everyone in the Region of Waterloo after several residents lost a combined $100,000 in a fraud scheme.
Investigators with the Waterloo Regional Police Service have heard from victims in more than ten cases of a bank scam since April 20.
Police said the scam involves someone posing as a bank investigator, who calls a victim and tells them there’s been suspicious activity on their bank account.
The victim is asked to confirm their personal or banking information, including their PIN number or bank account details. Sometimes a courier is sent over to pick up the victim’s bank cards. The scammer uses the cards or banking information to make fraudulent purchases or withdrawals.
Police said the caller uses technology so the victim sees what looks like a legitimate phone number on their screen.
Police said they believe there are more victims than the ten recent cases they know about, because not all frauds are reported.
Police remind everyone to watch out for the signs of scams, that include:
- Requests for secrecy or pressure to act quickly
- Instructions not to speak with family members or bank staff
- Calls that appear to come from legitimate phone numbers
- Requests to hand over bank cards or share PIN information
More information about fraud prevention can be found by clicking here.
