Posted on 01/15/2022 8:09:36 AM PST by ChicagoConservative27
Seniors lose more than $600 million a year to fraud, according to the Federal Trade Commission. That’s shocking and heartbreaking.
But what also raises my hackles is when banks turn a blind eye to such activity, authorizing money transfers when it should be obvious that something out of the ordinary is happening.
Lisa Spanierman contacted me recently to relate how her 81-year-old mother got fleeced to the tune of more than $600,000, and how Chase bank did precious little to prevent the theft of much of her life’s savings.
(Excerpt) Read more at latimes.com ...
Well, the good news is that, since the transfer exceeded $600, the bank has notified the IRS, so the gov can now go after him for acting like a drug trafficker.
my local Chase branch manager, now retired, was very aware when these types of transactions were attempted, and did everything within her limited power to try to stop them ... the problem is that banks have no authority to prevent people from doing what they want to with their own money as long as they are not breaking the law ...
FTA:
“He got control of my mom’s computer, probably by getting her to download some malware,” Spanierman said. “He saw that she had over $600,000 in her checking account.”
This person does not sound curious enough to find out what
exactly happened.
Microsoft needs to develop a special seniors program that
prevents any password or credit card information from being
stored on a computer.
If a Chase customer uses a VPN and regularly scrubs the
information on their computer without any trace as I do, there is usually a two step process to access the website.
Chase will flag some stuff and are responsive enough to
have sent new cards for problematic or suspicious transactions.
Makes it too convenient for scammers to view the content of a persons assets, if an account has multiple uses.
I’ve been thinking about going to individual
banks and opening up 4 separate accounts. My bank insists
on placing savings, checking, credit card, and CD information all together whether I want it or not.
They don’t believe in any limited customer service for
transactional security. Every time their system goes through an upgrade, I have to resubmit my request to
not have any online transaction capability—view only.
My mother-in-law (MIL) is a widow, and has been brainwashed to believe that she is going to die of covid if she engages in social interactions outside her house. She is bored, and as a result, she will talk to any sweet-talking stranger who calls her on the phone, particularly if the person claims they need her personal information to protect her from a security breach.
After the Chase incident, we had a family intervention with her about talking to strangers on the phone. We cleaned computer spyware, malware, and other malicious apps from her computer and opened a new bank account with limited access for her SSI and pension deposits, and a third bank account where we move small amounts of cash for her to use as needed.
Yet, two weeks later, she was on the phone, again, with a total stranger, about to give out personal information to resolve a “security issue” with her cell phone account. Fortunately, we just so happened to visit while she was on the phone and the stranger quickly ended the conversation.
These scammers are good. One of them told her to relax and get a glass of wine because it would take some time to walk her through the security fix. They asked her about her grandchildren, leisure travel, mortgage and other debt (she has none), and other expenditures — probably to estimate her financial means. They also asked about her investments, and she told the stranger that she is “worth millions,” but that only her son-in-law (me) has access to the accounts and he gives her what she needs. She even offered him my email address and telephone number so that I could answer his questions. And even though she has anti-virus/malware/spyware programs on her computer, they are pretty much useless when she ignores the pop-up warnings and opens attachments to emails and clicks on email links from senders she does not know.
Do you think the banks looks at this stuff?
It’s funny, people on here freak out about basic bank reporting. Now they are supposed to police old people’s wires?
The folks with their banking opinions have to get their stuff straight.
Really? Not when you buy it direct..with $600k in cash.
The central government should deny all freedom to the elderly...for their own good, of course.
Exactly.
These scammers will provide scripts to their victims and instruct them how to lie to the bank staff so the transactions don’t get stopped.
Instead of blaming Chase, why doesn’t the LA Times blame the NSA? These are foreign phone calls coming from a known scamming industry (likely in India).
Instead of functioning as a spy apparatus for the deep state, why don’t they perform actual law enforcement functions?
How about the State Department??? Why are they letting known foreign entities scam U.S. citizens for millions of dollars each year with no repercussions? We should be putting sanctions on counties who allow this behavior.
To blame Chase for this is ridiculous.
While we're at it, let's ask out military to protect OUR borders rather than Ukraine's...
There is a 99% chance the scammer is in India. The IRS can do nothing..
The NSA probably could do something. So could the State department.
But they won’t. They are busy spying on Americans and setting up deals to enrich the elites.
That’s an example (yours), not a legal definition of elderly.
On the 15th, i posted on this thread, starting with a quote that i mistakenly attributed to wny.
My apologies. The quote was not from wny, but rather the poster just before in the comments.
That was my mistake, it was the post before yours.
I just posted my apology.
Your sarcasm detector needs calibration. I referred to the IRS, in an ironic way, investigating the victim for withdrawing in excess of $10K.
SO SAD and so WRONG!
That is sick and evil!
JPMorgan Chase’s Jamie Dimon threatens to FIRE unvaccinated NY staff - about 450 out of 15,000 workers - and won’t let them work from home without getting jabbed
My sarcasm detector is dialed in and functioning at incredibly precise levels.
What is lacking is your gender identification sensor. You said the IRS could get “him” but the victim of the scammers was a “mother”. Unless you read other stories that indicated the mother was a trans “him”, it would be reasonable to think you were indicating the IRS could target the scammers.
My point was that they can’t do that because the scammers are foreign nationals attacking US citizens from the safety of their foreign home base and not paying US taxes. Unfortunately, the NSA and the State Department are the only governent agencies that could do anything about it but they don’t care.
I once had a roommate who responded to jokes with serious lectures that missed the humor. You’re not “him” are you?
(Go ahead, explain objective and subjective pronouns to me ad nauseam.)
She sounds nice.
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