You wouldn\u2019t hand over your bank card to a complete stranger on your doorstep \u2014 or would you?<\/p>\n
Imposter scams<\/a> are becoming increasingly sophisticated and it may be easier to fall victim than you might realize. Scott Merkovitch was one such victim who lost $20,000 after he got a call on May 16 from what he thought was his bank.<\/p>\n \u201cThey told me that there was fraud alerts<\/a> on my account on a couple of charges that they didn\u2019t feel like were mine,\u201d he told Fox 26 Houston in a story<\/a> published July 1.<\/p>\n The caller was also able to tell Merkovitch about valid transactions in his account \u201cwhich, again, is what gave me the kind of assurance that I was talking to a real person,\u201d he said.<\/p>\n Merkovitch was told a security representative from Wells Fargo would soon show up at his home.<\/p>\n Footage captured by Merovitch\u2019s football camera and shared with the broadcaster appears to show a woman walking up to his front door. Merovitch says she identified herself and gave him a code that the caller had shared with him.<\/p>\n Believing her to be a legitimate employee from Wells Fargo, Merovitch says he gave her his card. She then cut it in half with a pair of scissors, sealed the pieces in an envelope and drove off.<\/p>\n An hour and a half later, over $20,000 had been withdrawn from Merovitch\u2019s account from ATMs a few miles from home, he says.<\/p>\n Merovitch filed a police report, per Fox 26, and a few days after the incident he received a notice from Wells Fargo \u2014 this one was legitimate.<\/p>\n \u201cThey basically accused me of transferring the money into the accounts and then authorizing the charges,\u201d he said. He thinks blaming him \u201cis just the easy way out for a gigantic organization.\u201d<\/p>\n Wells Fargo told Fox 26 the bank would take another look at Merovitch\u2019s case.<\/p>\n Read more: Americans are \u2018revenge saving\u2019 to survive \u2014 but millions only get a measly 1% on their savings. Here\u2019s how to quickly earn 280% more on your cash<\/a><\/strong><\/p>\n The broadcaster reports Merovitch\u2019s case is similar to another pair of Wells Fargo customers who fell victim to a similar scheme earlier this year.<\/p>\n Story Continues <\/p>\n Imposter scams can involve the transfer of cash and even gold bars<\/a>, and initial contact with victims comes in many forms, such as messages claiming to be from federal agents or phone calls from seemingly legitimate authority figures.<\/p>\n As scams become increasingly elaborate, more Americans are becoming victims of fraud. In 2024, consumers reported losing more than $12.5 billion to fraud \u2014 a 25% increase over 2023 \u2014 according to the Federal Trade Commission (FTC).<\/p>\n In total, 2.6 million consumers filed fraud reports in 2024, according to the FTC, with 38% of those victims saying they lost money because of it. Imposter scams were the most reported category, followed by online shopping, job, investment and Internet services scams.<\/p>\n If you\u2019ve never heard of the scam Merovitch fell victim to, it\u2019s not surprising because \u201cscammers\u2019 tactics are constantly evolving,\u201d Christopher Mufarrige, director of the FTC\u2019s Bureau of Consumer Protection, said in a news release<\/a>.<\/p>\n So, what can you do about it, especially as scams are changing?<\/p>\n Wells Fargo told Fox 26 that it would never ask you to hand over or mail your physical card or PIN to prevent fraud. The FTC adds<\/a> you should never send money, cryptocurrency or gold in response to an unexpected call or message. Don\u2019t believe anyone who urges you to quickly move your money for protection.<\/p>\n Never click on links or call phone numbers in unexpected messages \u2014 those can lead you directly to scammers. Even if your phone\u2019s caller ID shows you\u2019re getting a call from the bank, remember that scammers can spoof legitimate phone numbers. Instead, contact the organization yourself \u2014 a staffer should be able to verify if the institute needs to contact you.<\/p>\n Being defrauded can be financially painful \u2014 and you may not have any recourse once the money has disappeared from your account. The same advice holds true today as it always has: never hand over cash (or your credit card, gold bars or anything of value) to a stranger in your doorway.<\/p>\n