Fraud often doesn’t begin with obvious warning signs – it can start with a situation that simply doesn’t feel right. Staying alert, asking questions, and communicating concerns early can make a significant difference in protecting customers from financial harm. In this real‑life example, Mitch Choy, our newest fraud fighter from the Information Technology department, shares how trusting his instincts and speaking up helped prevent a potential fraud loss.
What first raised concern about the customer?
Mitch: I was contacted by a customer I had a prior relationship with and was asking to make a large cash withdrawal. After speaking with him, I didn’t feel comfortable with the situation.
What happened next with the customer?
Mitch: The customer later stopped by the branch where I’m located, requesting a $40,000 cash withdrawal. Based on our prior conversation and the information he had shared, I started asking him additional questions throughout our conversation and the feeling of being uncomfortable with the situation continued to grow. Something about this just didn’t feel right.
What steps did you take after feeling concerned?
Mitch: Once the customer specified the branch he was going to stop at to complete the withdrawal and left, I took advantage of this information and I alerted the branch manager, making him aware of the situation and proactively shared my concerns. The branch manager agreed, something about this just wasn’t right and we were worried that the customer was involved in some kind of scam.
Was there any follow‑up activity?
Mitch: The next day, the customer went to the branch that they stated they were going to visit. Between the conversations that I had with our customers and expressing the concerns that I had about it, and the conversation that the branch manager had with him, voicing the same concerns, the customer started so see that something was right about this. Upon further discussion, we learned that he already deposited $12,000 into a Bitcoin ATM and luckily, we were able to stop him from depositing that additional $40,000.
What was the overall outcome of your actions?
Mitch: By proactively communicating my concerns, we were able to help prevent the customer from potentially experiencing a much greater financial loss, and they seized conversation with the scammer.
How to Protect Yourself from Fraud
- Slow down. Scammers create urgency. Take time before withdrawing or moving money.
- Be cautious with large cash withdrawals, especially if it’s unusual for you.
- Never send money using an unusual payment method at someone else’s request. Legitimate businesses and government agencies will never ask for payment via bitcoin, cryptocurrency, cash couriers, payment apps (CashApp, PayPal, Venmo, Apple Pay, Google Pay) or sending them cash through USPS, UPS, or FedEX.
- Don’t keep secrets at the bank. If someone tells you what to say – or not say –that’s a red flag.
- Trust your instincts. If something feels off, stop and ask a bank employee or a trusted person for help.
Remember: Your bank’s questions are meant to protect you – and your money.