Scammers can wipe out your entire bank account; how to protect yourself

Scammers aren’t just taking your money. They can wipe out your entire account.

And your bank might not be able to help you once it’s gone.

Criminals are staying one step ahead of consumers as they work to get their hands on your money.

Scammers posing as USAA’s Fraud Department stole $19,000 from Allison Adams’ bank account by exploiting personal information and convincing her to make a deposit at a local bank.

Adams received a call from someone claiming to be from USAA’s Fraud Department, who knew specific details about her account, leading her to believe the call was legitimate. The scammer requested a one-time code sent by USAA, which Adams provided, despite warnings not to share it.

“They just need that one-time code,” said Erik Beguin of Austin Capitol Bank, explaining that scammers often already have most of the victim’s information from data breaches.

In Adams’ case, the scammer convinced her to deposit $19,000 at a local Chase Bank, claiming it was necessary to catch the criminals. However, this was part of the scam, and the money was stolen during this process.

Adams was on the phone with the scammer for two hours, during which time they managed to lock her out of her USAA account. “It’s my husband’s retirement and disability money. So, everything he’s worked for, for 22 years,” Adams lamented.

USAA denied Adams’ fraud claim, stating that there was no evidence of fraudulent activity because she had voluntarily provided the scammers access to her account and made the deposit herself.

USAA emphasized that they would never ask customers to share one-time access codes or send money to another bank, advising customers to hang up and call the financial institution directly if they receive suspicious calls.

The incident highlights the sophisticated tactics used by scammers who exploit personal data to deceive victims. Experts advise consumers to be cautious and verify any suspicious calls with their financial institutions directly.

Download the FREE WPXI News app for breaking news alerts.

Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW