WINNIPEG -- Winnipeg police are warning about the dangers of a scheme after it took over $1 million from Manitobans in 2019, and $3.2 million from Canadians.

According to police, the bank investigator scheme is becoming increasingly popular and is currently one of the most successful and profitable for fraudsters.

HOW IT WORKS

In this scheme, the fraudster will contact a victim through a landline telephone and tell them that there's been a suspicious transaction from their bank or credit card account, but they’ve stopped it.

The fraudster then instructs the victim to hang up and immediately call the toll-free phone number on the back of their payment card for further details on the suspicious transaction. When the victim hangs up and begins dialling, the fraudster, not having hung up, will then begin posing as a bank investigator.

The person pretending to be a bank investigator will tell the victim the suspicious transaction is linked to an ongoing internal investigation and that they require the victim's help with it. They then convince the victim to remove money from their account and to send it to them in a variety of different ways, including cryptocurrency (bitcoin) deposits, wire transfers, or even through the mail. 

The victim is then reassured that all of the money removed from their account will be returned to them.

HOW TO PROTECT YOURSELF

Between 2017 and 2019, the amount of complaints made to the Canadian Anti-Fraud Centre regarding the bank investigator scheme has more than doubled, according to Winnipeg police. 

The Winnipeg Police Service gave these tips to protect you people the scheme:

  • Banks and financial institutions will never ask someone to help with an internal investigation, they all have a corporate security department who handles those types of incidents;
  • Be wary of early-morning phone calls from people saying they’re from a bank or another financial institution. The fraudsters behind these schemes usually call then to catch a victim who has just woken up and is not yet fully alert;
  • Don’t assume phone numbers appearing on a call display are real. Fraudsters use call-spoofing technology to disguise themselves and make it seem like they are actually calling from a bank;
  • If someone gets a phone call about suspicious activity with their bank account, they should speak to a representative at their local branch in person.

For more information on the bank investigator scheme visit the Canadian Anti-Fraud Centre website.