We all think we'll see through the scam. This happened to a friend of a friend.
Here's the email I received from my friend.
"This is the story of what happened to my son-in-law's dad, a former SIM worker, a few weeks ago. He lost $25,000. My son-in-law, whose voice they spoofed, works for Founders, and evidently they had him write up this experience afterward. The AI-generated voice fooled his dad, and the scammers even knew details such as my daughter's name. His dad said later that he saw all the red flags, but ignored them in the seeming urgency of the moment. The tips at the end are worth implementing."
Here's the story and some recommendations.
Vishing, A True Story
You receive a phone call. It’s a lawyer who says there’s been a terrible car accident, and your son is in jail. You’re immediately worried about your son. The lawyer puts your son on the line. There’s terror in his voice. “Dad, dad,” he says. “I rearended a lady. They’re saying she might be dead. They arrested me for DUI, but I wasn’t drinking. I took some cough medicine. I wasn’t drinking, I swear. I need you to pay the bail. Don’t tell my wife. I have to tell her myself. I don’t want to scare the kids. You have to bail me out.” The lawyer gets back on the line and gives you instructions for how to pay the bail. Withdraw money from the bank. Tell the teller it’s for a home renovation or else your son’s arrest will be public record. Deposit the money into a cryptocurrency ATM at the grocery store.
And just like that, your money is gone. This is called vishing, or voice phishing. Scammers fake the voice of someone you love to claim there’s been an emergency, and they manipulate you into giving them money. This type of fraud happens millions of times a year in the United States and costs billions in financial loss.
Tips to Avoid Vishing
Create a family authorization word or phrase. Think of it like a password or security question you put on an account. Make sure there is a word or phrase that everyone in your family knows to use in case of emergency, something that’s specific to your family and can’t be found online.
Tell the truth. When you visit your financial institution, it’s important to tell the truth about why you’re withdrawing large amounts of cash. Scammers tell you to lie because they know tellers and other representatives are trained to recognize their scams.
Avoid paying by cryptocurrency or gift cards. Legitimate businesses and organizations typically do not request payment through cryptocurrency or gift cards as their primary method. Fraudsters prefer these payment methods because they are difficult or impossible to recover.
Be cautious of urgent requests. Scammers use urgency as a tactic to rush victims into making hasty decisions. If the caller insists on immediate action or threatens consequences if you don't comply, it's a red flag for potential fraud.
I would add to the recommendations to hang up and call back. Call the son, call the daughter-in-law. Confirm the validity.
The scammers are sophisticated. My cell phone was hacked two years ago. The phone went dead on my end while I was on vacation. Somehow my cell service ended up in the Philippines and shoppers in Miami had fun with my credit cards. None of it cost me anything other than lost time and a lot of headache. In this case, there wasn't anything I did wrong. The credit bureau got hacked and I was a victim. My story is good example of why I carry cash in addition to my CC.
Be careful out there.
Here's the email I received from my friend.
"This is the story of what happened to my son-in-law's dad, a former SIM worker, a few weeks ago. He lost $25,000. My son-in-law, whose voice they spoofed, works for Founders, and evidently they had him write up this experience afterward. The AI-generated voice fooled his dad, and the scammers even knew details such as my daughter's name. His dad said later that he saw all the red flags, but ignored them in the seeming urgency of the moment. The tips at the end are worth implementing."
Here's the story and some recommendations.
Vishing, A True Story
You receive a phone call. It’s a lawyer who says there’s been a terrible car accident, and your son is in jail. You’re immediately worried about your son. The lawyer puts your son on the line. There’s terror in his voice. “Dad, dad,” he says. “I rearended a lady. They’re saying she might be dead. They arrested me for DUI, but I wasn’t drinking. I took some cough medicine. I wasn’t drinking, I swear. I need you to pay the bail. Don’t tell my wife. I have to tell her myself. I don’t want to scare the kids. You have to bail me out.” The lawyer gets back on the line and gives you instructions for how to pay the bail. Withdraw money from the bank. Tell the teller it’s for a home renovation or else your son’s arrest will be public record. Deposit the money into a cryptocurrency ATM at the grocery store.
And just like that, your money is gone. This is called vishing, or voice phishing. Scammers fake the voice of someone you love to claim there’s been an emergency, and they manipulate you into giving them money. This type of fraud happens millions of times a year in the United States and costs billions in financial loss.
Tips to Avoid Vishing
Create a family authorization word or phrase. Think of it like a password or security question you put on an account. Make sure there is a word or phrase that everyone in your family knows to use in case of emergency, something that’s specific to your family and can’t be found online.
Tell the truth. When you visit your financial institution, it’s important to tell the truth about why you’re withdrawing large amounts of cash. Scammers tell you to lie because they know tellers and other representatives are trained to recognize their scams.
Avoid paying by cryptocurrency or gift cards. Legitimate businesses and organizations typically do not request payment through cryptocurrency or gift cards as their primary method. Fraudsters prefer these payment methods because they are difficult or impossible to recover.
Be cautious of urgent requests. Scammers use urgency as a tactic to rush victims into making hasty decisions. If the caller insists on immediate action or threatens consequences if you don't comply, it's a red flag for potential fraud.
I would add to the recommendations to hang up and call back. Call the son, call the daughter-in-law. Confirm the validity.
The scammers are sophisticated. My cell phone was hacked two years ago. The phone went dead on my end while I was on vacation. Somehow my cell service ended up in the Philippines and shoppers in Miami had fun with my credit cards. None of it cost me anything other than lost time and a lot of headache. In this case, there wasn't anything I did wrong. The credit bureau got hacked and I was a victim. My story is good example of why I carry cash in addition to my CC.
Be careful out there.
