An elderly couple has been swindled out of over $1 million by fraudsters posing as government anti-fraud officials, according to a new report.
Scammers allegedly contacted the Ontario victims by phone, warning that their personal data had been compromised and was being used for money laundering by a criminal network involved in child pornography, human trafficking, and drugs, CTV reports.
Convinced they were dealing with legitimate authorities, the couple began receiving daily calls from individuals claiming to represent the “Canadian Anti-Fraud Center,” local police, and even Canada’s Treasury Department.
Over the course of several months, the fraudsters gained the couple’s trust, insisting their bank accounts were at risk and instructing them to withdraw large sums of cash for “safekeeping.”
Following directions, the couple ultimately handed over $1,010,990 to the impostors before realizing they had been deceived.
Investigators say the elaborate scheme is part of a growing trend targeting seniors through social engineering and impersonation of trusted institutions. Authorities are urging people to verify any unexpected communications involving personal or financial information and to contact law enforcement immediately if approached by anyone claiming to be from an official agency.
Financial scams targeting the elderly are on the rise.
90-year old Ray Anholt said he lost all of his funds at two major banks after receiving calls from fraudsters, CBC News reported.
His ordeal began when he received a phone call from what appeared to be a number from CIBC. The caller said he was with the bank’s fraud department and needed Anholt’s help with a money-laundering investigation.
The caller instructed Anholt to withdraw from his accounts and a courier would pick up the money from his apartment. The scammer also said that the funds will be returned once the investigation is over.
Unfortunately, Anholt followed the fraudsters’ instructions. His daughter, Jill, says her father’s banks allowed him to drain his accounts despite the red flags, and the scammers stole $1.7 million CAD worth about $1.2 million USD.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
