London (October 1, 2020) – The London police issued a fraud warning against ATM cash withdrawal schemes. They received complaints from individuals being approached by a man who allegedly sent them a fake e-transfer and convinced them to withdraw the cash equivalent from an ATM. Some victims reported that the man asked them to deposit fraudulent cheques in their bank accounts. In both cases, the victims realized that they were defrauded of the money, after the suspect left. Police warned the public to be vigilant and reminded everybody that agreeing to withdraw funds from a bank account for a stranger is very risky and usually results in losing the money.
London police issued a fraud warning on September 29 due to an increase in reported ATM cash withdrawal schemes. The police asked the public to be vigilant when it comes to requests involving personal bank accounts.
ATM cash withdrawal schemes
The Financial Crime Unit of the London police noticed an increase in the number of reported ATM cash withdrawal schemes. Police said that each of the reported cases involved a man approaching the victim who asked them for help since he allegedly lost his wallet and phone.
The man reportedly sent fake e-transfers to the victims who agreed to help him. Subsequently, the suspected man asked the victims to withdraw the cash equivalent from an ATM in return. After the victims had handed over the cash out of their personal bank accounts, the suspect left the area. Thereafter, the victims realized that the e-transfer was fake and that they were in fact defrauded of the money.
In other cases, the victims reported that they were asked to deposit cheques into their personal bank accounts. Thereafter, they were supposed to turn over the cash equivalent to the suspect. Later, they realized that the cheques were fraudulent and the suspect vanished with their withdrawn cash.
Police asked the public to stay vigilant
Three victims who complained to the London police in regards to the ATM cash withdrawal schemes were walking along Richmond Street, between Dundas Street and Fanshawe Park Road in London when they were approached by the suspect.
The police said that in situations like these, financial institutions will almost always require the funds to be paid back by the victim, which means that the victim loses the money. Therefore, the police admonished the public to stay vigilant since agreeing to withdraw funds from a bank account for a stranger is very risky.
‘Any time someone wants to use your personal bank account for their benefit, it comes with great risk and should be avoided to protect the integrity of your bank account and personal finances,’ advised the London police in their press release.
The police asked anyone with information about similar incidents in London to call the London Police Service at (519) 661-5670 or Crime Stoppers at 1-800-222-TIPS (8477).
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.