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Fraud Wars Episode: A Devastating Scam Was Disguised as a Fraud Alert
Criminals told Marcia Hubelbank they were from her bank and needed to protect her money; they stole it instead
Key takeaways
- A caller posing as a bank worker persuaded the victim to move her savings.
- The scammer used urgency, reassurance and secrecy to override doubts.
- Pausing and consulting someone you trust can help expose a potential scam.
It began with a text: There had been unusual activity on Marcia Hubelbank’s Apple Pay account, it said, and listed a phone number she should call.
Now anxious, she dialed the number and was connected to a man who introduced himself as John Cooper, from her bank’s fraud division.
“I really want to help you,” he said, after listing an array of unusual charges on her account, including some at Trader Joe’s, where she often shops. That made his claims seem more legitimate, says Hubelbank, 73, an early childhood teacher and parent coach in Boston.
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Cooper explained that she had two options: Freeze her account, which would mean she’d temporarily lose access to her money, or move her cash to a different, secure account.
“You will need to lie a little to the bank, just to explain why you’re taking out all this money,” Cooper told Hubelbank, who relays her experience in a new episode of AARP’s Fraud Wars video series.
“I don’t lie,” she says, “but I felt this was the only way to save my money.”
He kept her on the phone as she drove to the bank, went inside and asked to withdraw $20,000. When the concerned teller handed her a leaflet about fraud and said, “Are you sure you’re willingly doing this?” Hubelbank responded, “Yeah, don’t worry, I’m fine.”
Cooper then sent her to a nearby gas station, where he explained how she was to insert her money — $20 bill after $20 bill — into a Bitcoin machine.
The next day, a Friday, he told her to withdraw and send more money, and even more the following day. Then, on Sunday, she called him. His number was no longer in service.
He’d stolen $50,000 from her.
“It was such a shock, just this huge awakening of awareness” and then “distress and confusion,” Hubelbank says. “The money I had been working for and saving. It was gone.”
She went back to the bank to explain what happened, and remembers that the bank manager was very kind; she told Hubelbank to report the crime to the police and reassured her that she wasn’t alone: “This is happening to so many people.”
Psychological manipulation
Unfortunately, the bank manager is right: This is a common scam, and the criminal used tactics fraud fighters see again and again.
“I’ve seen the scripts,” says Kitboga, a scam expert famous for his YouTube videos baiting criminals, discussing the case with Kathy Stokes, AARP’s senior director of fraud prevention programs. “They make a job out of manipulating people,” he adds.
The tactics employed by “John Cooper” and other criminals include:
Creating a sense of urgency. The point is to keep the victims’ anxiety level high, which short-circuits rational thinking: “You need to decide this very quickly; we need to do this before 5 p.m.,” Cooper told Hubelbank.
“It’s incredible,” she says. “My mind’s processes were just inundated with confusion, like I was hijacked.”
Pretending to be the victim’s savior. Kitboga points out that scammers like Cooper manage to “seem like the hero. They don’t seem like the bad guy; they’re the person saving the day.”
Telling the victim to lie. No legitimate government or bank official will tell you to lie to your bank.
Involving cryptocurrency kiosks. These machines, which look like regular ATMs, are often found in convenience stores and gas stations and are a favorite way for criminals to transfer money. States are cracking down on the kiosks, passing legislation that restricts or bans them, with AARP’s support. (See what’s happening in your state on our map.)
How to protect yourself
Block uninvited communications. Set up filters on your email and use spam-blocking programs and apps for texts and calls. Also, avoid answering unknown numbers. If it’s important, the caller will leave a message.
Take a pause. Stop and reflect. Don’t let anyone rush you into parting with your money; criminals want you to make decisions while your emotions are high and rationality takes a back seat.
Tell a friend or family member. It’s always good to have a second opinion. If the person contacting you says to keep your interaction a secret, it’s probably a scam.
Get help. If you are a fraud victim or have questions about scams and fraud, you can call the free AARP Fraud Watch Network Helpline at 877-908-3360 for advice and support.
The key takeaways were created with the assistance of generative AI. An AARP editor reviewed and refined the content for accuracy and clarity.
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