VANCOUVER — An elderly West Vancouver woman has been defrauded of more than $800,000 in a new bank inspector scam.
The victim, who wishes to remain anonymous, began receiving phone calls earlier this year from individuals claiming to report fraudulent activity on a personal credit card, say investigators.
After a series of calls, the victim was then urged to call a second person identified as a bank fraud investigator, who then placed the victim into contact with a third person claiming to be a deputy chief of Vancouver police.
The scam artists claimed an investigation was underway at the victim’s personal bank and that personal assets should be moved to a bank in another country for safekeeping.
Police say the victim transferred more than $800,000 before realizing it was a scam.
Attempts by the victim’s bank to reverse the transfers have been unsuccessful, and police say the fraud has resulted in loss of most of the victim’s life savings.
Apparently, a similar fraud scheme has happened recently in Toronto, where five victims have reported losses of more than $5.1 million, police said.
West Vancouver police warn residents not to complete any financial transfer or transaction requested by unknown persons through unsolicited phone calls, email or on-line messaging.
Instead, police say residents should go to their banks in person. Banks or financial institutions will never advise someone to transfer funds to external accounts.