Police in Guelph, Ontario, are cautioning the public about fraudulent schemes following an incident where a woman lost around $800,000 of her life savings. The victim, a woman in her 70s, approached the authorities on Wednesday to report an elaborate scam that began in March. According to Guelph police, the woman’s computer started emitting strange sounds and flashing lights, prompting her to dial a phone number that appeared on the screen.
Upon calling the number, she spoke with an individual she believed was associated with her bank. The scammer informed her that her accounts had been compromised and persuaded her to assist in catching the culprits. Subsequently, through a series of phone conversations, the victim was instructed to withdraw all her funds and deposit them into cryptocurrency ATMs. Additionally, she was advised to liquidate her life insurance policies and met with men on three separate occasions near her residence to hand over gold bars she had acquired.
The woman was repeatedly assured that she would regain all her funds once the bank concluded its investigation. However, after not hearing back for several months, she contacted the police. The victim estimates her losses at approximately $800,000. Authorities are reminding individuals to independently verify any communication that demands immediate action, such as phone calls, emails, or texts.
Scott Tracey, a spokesperson for Guelph police, emphasized the importance of verifying such requests independently. He advised individuals to confirm the legitimacy of any unusual requests directly with their financial institution. Tracey warned that these scams are highly sophisticated and can easily deceive individuals. He stressed that once money is transferred, it becomes challenging for law enforcement or banks to recover it.
Anyone who suspects they have fallen victim to cybercrime or fraud is encouraged to report the incident to local law enforcement and the Canadian Anti-Fraud Centre through their online reporting system or by phone at 1-888-495-8501, even if no financial loss has occurred.
