With a sharp increase in sophisticated financial scams involving fraudsters posing as bank investigators, the Vancouver Police Department is warning people to be on their guard.
“These recent cases show a disturbing trend where vulnerable people are being exploited by highly organized and deceptive criminals,” Const. Tania Visintin said.
“We urge the public to stay alert, protect their personal information, and contact police if they suspect fraudulent activity.”
She said victims in 56 reported cases have lost more than $1.2 million combined since Jan. 1.
In the past two months alone, Visintin said, three major incidents have been reported, with losses topping $685,000. She said scammers posed as officials with Scotiabank and RBC.
“Investigators believe these scams are part of a wider, well-coordinated operation using high-pressure tactics and sophisticated deception to manipulate victims,” Visintin said.
On May 29, an 83-year-old woman was defrauded of $17,000 at her residence in the West End. The victim, experiencing early signs of dementia, had no recollection of providing her card and PIN.
“No legitimate financial institution will ever ask for your PIN, full account number, or instruct you to transfer or surrender funds under threat," Visintin said.
On June 9, another victim lost $65,000 in cash and multiple gold bars valued at around $600,000. Police believe the fraud is linked to a highly organized crime group, potentially operating from Eastern Canada.
The third incident, on May 22, involved the victim disclosing personal banking information. That led to multiple unauthorized ATM withdrawals, a transaction at a gas station and the victim being locked out of her account.
No suspects have been identified.
The VPD’s Financial Crime Unit is working with regional and national partners to trace the suspects and track related activity.
Anyone with information about this scam is asked to come forward immediately. If it’s a crime in progress or if there is an immediate safety concern, call 911.
