An elderly west Vancouver resident has lost approximately $800,000 in what West Vancouver Police Department (WVPD) are calling a new version of the “bank inspector fraud.”
According to an April 27th, 2018 media release, the victim — who told police that they wished to remain anonymous — began receiving phone calls earlier this year from individuals “claiming to report fraudulent activity on a personal credit card.”
The victim was eventually told to call another individual claiming to be a bank fraud investigator, who then connected the victim with a third individual claiming to be a deputy chief of the Vancouver Police.
Eventually, the scammers convinced the victim to transfer their personal assets to “a bank in another country for safekeeping,” according to the WVPD.
The victim has been unable to reverse the transfer through their financial institution and has lost most of their life savings.
A WVPD investigation is currently ongoing, and the police force’s Major Investigations Team is currently in contact with Toronto Police Services, where five other victims have reportedly been targeted with losses amounting to roughly $5.1 million dollars.
It’s important to note that banks will never recommend transferring funds for security reasons.
Tax season is also quickly coming to an end, and Canadians should be cautious with anyone demanding money over the phone.
Source: West Vancouver Police Department
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