Victims lose thousands of dollars in ‘cereal box scam’
Callers pose as bank fraud staff and pressure older adults to withdraw cash for a supposed fingerprint check. Victims in one Florida county lost nearly $70,000 in two weeks.
How it works
A caller phones the victim and says they work in bank fraud. They claim the victim's money is at risk and that the cash must be withdrawn. They then say the bills need fingerprints taken off them, or that the money must be handled for a fingerprint check. The victim hands over the withdrawn cash to the caller or a person they send.
Red flags to watch for
- Caller claims to be from a bank's fraud department
- Caller tells you to withdraw cash from your account
- Caller says cash must be fingerprinted or handled for evidence
- Caller creates urgency and tells you not to tell anyone
- Request to hand cash to a person who comes to your home
What to do
Do not withdraw cash or hand money to anyone who calls you, and do not follow their instructions. Hang up, then call your bank using the number on the back of your card or on your official statement. Report the call to the FTC at reportfraud.ftc.gov and to your local police.
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Source: WSOC ABC Charlotte. Scam Sentinel summarizes this news report in plain language; it is a decision aid, not a guarantee.