Police in Stratford are alerting residents to a targeted bank impersonation scam that has caused “substantial” financial losses.
Scammers contact people by posing as bank representatives, police said, using spoofed numbers that appear to be legitimate bank numbers. They may have personal information, account details, or knowledge of recent transactions.
According to police, the scammer claims your account has been compromised, creating a sense of urgency. The scammers then tell victims to withdraw money from their accounts and send it through wire transfers, Cash App, cryptocurrency and more.
Police said that once the money is sent, it is often “impossible” to recover, noting residents have lost hundreds of thousands of dollars to this scam in just the past month.
Anyone who receives a call claiming their account has been compromised and demanding a money transfer is advised to hang up immediately, police said.
Residents should instead contact their bank directly using a trusted phone number or visit a local branch to speak with a bank representative.