Saanich police have issued an advisory to the public warning people about a type of scam called the “Bank Inspector Fraud” that has just been reported for the first time in 10 years.
— Saanich Police (@SaanichPolice) October 12, 2018
This involved scheme features the scammer calling their victim and pretending to be an Inspector for the bank who is conducting an internal investigation into an employee suspected of stealing money.
The fraudster will then ask the victim to assist their investigation by withdrawing a large sum of money from their account and then meeting the “Inspector” outside the bank to give them the funds.
The scammer will then promise to return the money to the victim’s account by the end of the day, and say they will follow up later – of course, this is a lie.
On October 9th, Saanich police received their first report of this type of scam since 2008, and have therefore released a list of precautions to keep in mind:
- It’s important to remember that neither your bank nor a police officer will ever request that you assist in an undercover investigation or ask you to withdraw money from your account. If you receive such a suspicious call, hang up and call police.
- Never give out personal bank information over the phone unless you have called your bank and they ask you questions to verify your identity.
- If you need to withdraw a large sum of money for a legitimate purpose, request a bank draft or a money order as this ensures only the intended recipient is able to access the money. Criminals will not accept these forms of payment because it creates a paper trail that can be used by real investigators to track the fraudsters.
- Check your bank statement frequently and report any irregularities to your bank as soon as you notice them.