A routine branch visit turned into a Fraud Fighter success story when Universal Banker Kimberly noticed something that didn't quite add up. What started as a seemingly simple transaction quickly raised her suspicions, prompting her to ask a few extra questions. As the conversation unfolded, warning signs began to appear, and one detail in particular revealed that the customer could be headed straight into a scam.
What first caught your attention?
Kimberly: A customer came into the branch to transfer $800 from their savings account to their checking account. During the conversation, I asked a few questions to better understand the purpose of the transaction and make sure everything looked appropriate. Those conversations can sometimes uncover situations where customers may be at risk.
What did the customer tell you?
Kimberly: The customer shared that they had finally found a home to rent and needed the money for a security deposit. At first, that sounded like a normal reason for the transfer. However, when I asked if they would need a cashier's check, they told me they had been instructed to purchase Apple gift cards instead.
What raised red flags for you?
Kimberly: The customer explained that they were supposed to buy a $600 Apple gift card for the landlord and a $200 Apple gift card for an attorney who was preparing the lease agreement. That's when alarm bells started going off. Legitimate landlords and attorneys don't ask for payments through gift cards. Scammers often use gift cards because the funds are very difficult to recover once they're redeemed.
What did you do next?
Kimberly: I asked more questions about the property, the rental process, and how the customer had been communicating with the landlord. The more we talked, the more warning signs appeared. I explained the warning signs and shared my concerns that the customer might be dealing with a scam.
What was the outcome?
Kimberly: The customer decided not to purchase the gift cards and was very grateful that we took the time to ask questions and look a little deeper into the situation. It's always rewarding when we can help protect our customers and prevent them from losing money to a scam.
Tips to protect yourself from similar scams
- Never pay with gift cards. Requests to pay rent, security deposits, legal fees, or other obligations using gift cards are a common warning sign of fraud.
- Verify before you pay. Research the property and confirm the landlord is legitimate.
- Watch for pressure tactics. Scammers often create a sense of urgency to get you to act quickly.
- Trust your instincts. If something feels off, ask questions and dig deeper.
- Talk to your banker first. A quick conversation could help you spot a scam before money is lost.
Remember: Gift cards are for gifts, not rent, deposits, bills, or legal fees. If someone asks for payment with gift cards, it's a major red flag.