Fraud Protection Agency Call Scam
How the scam works:
Keeping yourself safe from scams takes a lot of vigilance and involves educating yourself. It can be difficult though when scammers take on the persona of one who is trying to help you prevent being taken in by a scam.
A scam that has been circulating recently is the perfect example of how this happens.
This elaborate scam begins with victims receiving a phone call from a person identifying themselves as an employee at a fraud protection agency. They state that they are calling to warn the victim that their bank account has been the subject of fraudulent activity.
The scammer suggests to the victim to call the police or the bank right away and report the crime. When the victim hangs up the phone the scammer does not, which leaves the line open. When the victim then picks up the phone to call the police the scammer is the person on the other end of the line, posing as a police officer.
He advises the victim that he is investigating their bank for fraud and abuse and advises them to transfer their money to another account. He gives the victim the banking details and the victim, in their concern over not losing any of their money, makes the transfer. Of course the account they are transferring the money to belongs to the scammers, who clean out the account and disappear, taking all of the victim’s money with them.
How to avoid the Fraud Protection Agency scam:
Police are warning citizens to be aware of these scams. They advise that the police will never ask citizens to transfer money to other accounts and that if any fraudulent activity was to take place, they would not be contacted by a “fraud protection agency” in the first place.
If you receive a call of this nature and are concerned that it could be legitimate, hang up the phone and call the police, making sure that you have a dial tone before making the call. The police have so far been able to recover the funds for several people taken in by the scam because the victims have realized their error rather quickly and contacted them for help almost immediately. However, it is important to realize that if you are taken in then fail to act quickly, you could lose everything.
How to report the Fraud Protection Agency scam:
Make your family and friends aware of this scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission (FTC) using the link below:
How to protect yourself more:
If you want to be the first to find out the most notorious scams every week, feel free to subscribe to the Scam Detector newsletter here. You’ll receive periodical emails and we promise not to spam. Last but not least, use the Comments section below to expose other scammers.
TOP 5 MUST-WATCH FRAUD PREVENTION VIDEOS
Educate yourself with the videos below: