Chad Menser, fraud and financial crimes officer for Farmers Bank and Trust, made a stop at the Hopkins County Regional Senior Citizens Center on Thursday to keep citizens up to date on the latest instances of scams and fraud he’s recognized in the area.
“It’s important information for everyone to know,” he said. “No one ever believes they are going to be a victim of a crime like this until they are. So the more awareness we can bring to these types of situations, the more times people can stop and ask some questions.”
Menser discussed various types of scams, including those which specifically target seniors. He talked about romance scams, crypto scams, and individuals working as “money mules.”
“A lady from Union County…walked in,” he explained. “She said, ‘I’m going to bring you something in.’ She came in, rolled in a suitcase to the bank. Do you know what she had in the suitcase? Giftcards. Do you know how much money she had in gift cards? She had a cash value of $100,000 in Dollar General gift cards. Someone had bought gift cards, shipped them to her house, and they were asking her to ship them to someone else. She would get magazines and tape $100 bills to each page and mail them to people.”
He also talked about a scam which involves call spoofing, using a loved one’s phone number. Usually the scammer claims that a family member is injured and in need of immediate help.
“They’re going to call you, and it may be from a phone number you recognize,” said Menser. “Do you know that I can download an app on my phone today and I can call you from any number I want? So I can call you and you think it’s your daughter, or you think it’s your son. When I call you, in the heat of the moment, and I say, ‘Mom, I need some money,’ are you probably going to do it?”
This scheme is sometimes enhanced with AI used to imitate the family member in question.
Menser also dispelled a rumor which he’s been hearing more often.
“As of July 9 at 2:05 p.m., I have been told multiple times that if a scammer calls you and you say ‘yes,’ you’ll be compromised for life,” he said. “As of July 9 at 2:06 p.m., I have not seen that happen. Not saying that it won’t. Typically what I see is that they’re going to send you down a rabbit hole, asking you questions.”
His general advice for any and all suspected scams were two simple rules. The first, if it sounds too good to be true, it is. The second, and usually more difficult when emotions run high, is to stop, hang up, and evaluate what you’re being told to do before you act. Many of these scams encourage you to act fast to secure wins, help family members, or avoid being arrested. If an individual is unsure, they should hang up and reach out to the alleged source of the call, their own bank, or local police, depending on the situation.
He, along with bank teller Sara Mooney, discussed various money transferring tools and safety when buying things online, especially from foreign based or less popular websites.
“If you’re shopping on a website you’re unsure of, you can go to Walgreens or CVS and buy a gift card for around the same amount you want to spend on that website,” said Mooney. “You can buy a Visa gift card, a Mastercard gift card. Use that card on the expense. That way they have that disposable card information rather than your personal debit card.”
Menser ended with a final recommendation to the audience.
“We’d love for you guys to bank locally, that’s what I’m going to pitch more than anything,” he said. “We’d love for you guys to have a trusted individual at your bank, one of the tellers or CSRs (customer service representatives) that you guys can talk to and trust. Big banks are good for a reason, but small banks are good for a reason as well. Bank at a local bank with someone that you trust and you recognize. If you’re involved in a scam situation and you’re afraid something’s happening, go talk to your bank.”
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