Bank fraud Small GTA business owner loses $14k after scam call with CIBC employee imitator.
Ann Chiu, a longtime CIBC customer, was victim to a bank fraud scam last month after trusting and complying with a fraudster during what seemed to be an innocent phone call from her bank.
Posing as a banker, the caller requested Chiu withdraw thousands of dollars, purchase multiple Apple gift cards from various stores, and then send the gift card codes to help them with a supposed fraud investigation.
CIBC said it is currently working with Chiu for a resolution, adding that the company “will never ask a client to assist in a fraud investigation or request money to be sent” via gift cards or eTransfers. Chiu, a small business owner, lost approximately $14,000.
Recently, Ann Chiu, a longtime customer of CIBC, was the victim of a bank fraud scam. It all started with a seemingly innocent phone call from someone claiming to be from CIBC. After Ann complied with the caller’s requests, she quickly realized that she had been scammed.
Ann’s story is a cautionary tale for all of us who use banking services. It’s important to remember that banks will never ask customers for their personal information over the phone. If you receive a call from someone claiming to be from your bank, it’s best to hang up and call the bank directly to verify the caller’s identity.
This type of scam is unfortunately becoming more and more common. Fraudsters are using increasingly sophisticated techniques to dupe unsuspecting victims into providing their personal information. It’s important to be aware of these tactics and take steps to protect yourself.
For starters, always make sure that your online banking platform is secure and up to date with the latest security measures. Also, never share your personal information with anyone over the phone, even if they claim to be from your bank.
Finally, if you suspect that you’ve been the victim of a bank fraud scam, contact your bank immediately. The sooner you report the fraud, the more likely it is that you will be able to recover any lost funds.
It’s important to remember that these scams can happen to anyone. By being aware and taking the necessary precautions, you can help protect yourself from becoming a victim of bank fraud.