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South Simcoe police warn of bank investigator scam

Police say scammers pose as bank officials or police in attempt to defraud victims
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The South Simcoe Police Service is urging residents to be aware of a bank investigator scam happening in local communities.

Scammers tell victims alleged suspicious activity has taken place with their bank accounts or credit cards, or that their banking information has been compromised. The scammer impersonates a bank employee or police officer and asks the victim “to help catch a bank employee who has been stealing money,” police said in a news release.

“Suspects trick victims into providing their own cash to assist the investigation. Victims are told to withdraw cash from their account and purchase gift cards to help catch the criminal. The scammer tells them not to let the bank teller know what they’re doing because the teller might be involved.”

Police say the scammers “bombard victims with information to cause panic, confusion and prompt immediate action” and “pass victims to multiple suspects on the phone who pose as supervisors or police.”

Financial institutions and police never ask people to help in a fraud or internal investigation, police noted.

Anyone who receives a call that seems to be like the ones mentioned above are encouraged to hang up and call police.

“Remember, any request to purchase gift cards — for any reason — is a red flag and the source of all such requests should be verified,” police said.