August 05, 2022

It was 8:30 at night. She was just browsing on her laptop computer when all of the sudden the smoke alarm sound came out of her computer and the screen started pulsing. The flashing message said "Call Microsoft Customer Support Services. Your computer has been locked up.  Call the number on the screen." Mary was startled and afraid.  The message said "call this 1-888 Microsoft number. A woman named Nikki spent some time with Mary saying she was “there to help,” earning Mary’s confidence.  Mary was shown on her screen that the hacker was a foreign address and that her phone was being listened to. She was told to call a (704) number because it would be a "secure line."  She recognized it as being an area code from the Northern Virginia area, near Washington D.C.

On the "dedicated safe line" they detailed the problem saying, " It is very important because hackers opened a gambling  and a porn account in your name, compromising your personal information and your bank accounts."

Mary checked her accounts, not knowing they could see her screen while she was checking them.  She was told "not to tell anyone."  An active file was being opened and that the next day at 9:00 a.m. someone from the "Federal Trade Commission" would be calling. It all seemed to make sense. The number was from the D.C. area.

At 9:00 a.m. the next morning David Robbins  from”the Federal Trade Commission” called. Mary could see his badge and I.D. on the screen of her computer.  He told her it was very important to get her savings out of her retirement accounts, $500,000.  Call and transfer that to your checking account.  David coached her on what to say to her investment advisor.  It was very important that she liquidate her investments. It all sounded very official.

He also told her it was important to sign a Confidentiality Agreement. And again it was important to tell no one.   At this point Mary called her Daughter. Her daughter immediately recognized the scam that was taking place. Together they went to Mary's bank and closed all her accounts.

This was a very costly interaction for Mary as she had liquidated her investments as directed. She still has the money but will be required to pay the long term capital gains on the income for liquidating them. Her investment company did not transfer the funds because they needed something in writing. Consequently she still has her investments but will need to pay the taxes.

The worst part for Mary is the feeling of being duped and the effect it had on her self-esteem.  She is already anxious about technology and now understands that she was the perfect target for such a scheme.  It made her feel a little better when her 35 year old banker said he fell for it too - being told he was offered free college loans.

Mary closed all her bank accounts. Opened new ones. She had to replace her debit cards and change her passwords. It has been very inconvenient.

But she is sharing her story so you don't go through the same thing.  Beware!