Police are alerting the public about fraud after a woman in Guelph, Ont., was deceived out of her entire life savings, totaling around $800,000.
The victim, who is in her 70s, reached out to the police on Wednesday to report that she had been scammed since March.
She explained to the police that her computer “began making strange noises and flashing,” prompting her to call a number that appeared on her screen, according to a release from Guelph police on Thursday.
“She called that phone number, ends up speaking to someone that she believed was a representative of her bank,” Guelph police spokesperson Scott Tracey told . “And that person informed her that her accounts have been compromised and essentially enlisted her to supposedly try to catch those who are responsible.”
During several phone calls, the woman was instructed to withdraw all of her funds and deposit the cash into cryptocurrency ATMs.
Additionally, she was advised to cash in her life insurance policies, and on three separate occasions, she met with men near her home and handed over gold bars she had purchased.
Authorities say the victim was repeatedly assured she’d get all of her money back once the bank finished its investigation. After waiting for months without hearing anything, she decided to contact the police. She estimates losing around $800,000.
LISTEN | Wellington County OPP offers presentations on detecting fraud scams :
The Morning Edition – K-W6:10Wellington County OPP offers presentations on detecting fraud scams
Scams are increasing across Canada, and authorities note they’re becoming more advanced. Currently, Wellington County OPP officers are providing talks for local community groups and businesses regarding new fraud trends. CBC K-W’s Joe Pavia spoke with Staff Sgt. Nigel Heels about these presentations.
Police encourage anyone receiving a phone call, email or text asking for immediate action to independently verify if it’s legitimate.
“If a person claiming to be from your bank calls you and says, ‘We need you to go and withdraw all your money and put it in the Bitcoin machine,’ go to the bank, ask to speak to the manager,” Tracey said. “In almost every case, the manager will say, ‘No, that’s not true.'”
Tracey warned those hearing about this scam who think they wouldn’t fall for it should reconsider.
“The scams are very sophisticated and unfortunately they’re very good at what they do,” he said. He added that once money is lost there’s often little law enforcement or banks can do afterward.
If anyone suspects they’ve been targeted by cybercrime or fraud should report it either locally or through the Canadian Anti-Fraud Centre’s online system or by calling 1-888-495-8501. Even if no financial loss has occurred, people can still report their interactions with CAFC.
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