Bank scam bilks Calgary woman of $12,000 in theft
Police seek a suspect in a sophisticated fraud case where a caller impersonated BMO fraud staff and convinced a victim to reveal banking details.
Calgary police are searching for a man linked to a sophisticated bank fraud scheme that cost a local woman $12,000 in a single afternoon.
The scam began around 5:30 p.m. Wednesday when the victim received a phone call that appeared on her caller ID as coming from Bank of Montreal. The caller claimed to be from BMO's fraud department and told her that her debit and credit cards had been compromised.
What made the fraud effective was the level of personal detail the caller possessed. He knew her full name, address, and date of birth—information that gave the impersonation credibility. The caller then persuaded the woman to reveal her banking PIN and convinced her to cut up her physical cards.
Once armed with her PIN and account access, the suspect withdrew $12,000 from the victim's account.
The incident highlights how scammers can weaponize personal information obtained through data breaches or other means. Even when someone is security-conscious, a convincing impersonation combined with accurate details can be difficult to spot in real time.
Police are urging residents to be skeptical of unsolicited calls claiming to be from financial institutions, even if the caller ID appears legitimate. Banks will never ask for PINs or passwords over the phone. Anyone who believes they've been victimized by fraud is encouraged to contact Calgary Police Service or their bank immediately.