Residents of Prince George’s County, Maryland, are shocked after falling victim to a bank impersonation scam that has stolen nearly $100,000.
The Prince George’s County Police Department (PGPD) Financial Crimes Unit (FCU) says it has received three reports in just one week. Local authorities report that the scam has targeted prominent financial institutions, including Wells Fargo, Bank of America, and PNC Bank.
This carefully orchestrated scheme, which has primarily impacted one area of the United States this year, could be just the beginning of a larger wave of similar digital frauds spreading nationwide.
Understanding the scam: fake alerts, real consequences
According to recent reports, scammers are impersonating bank representatives. The victim receives a text message on their cell phone that appears to come from their bank. The message alerts of “suspicious activity” on their accounts and urges them to call the bank using a number provided in the text.
When victims reach out to the provided number, they are connected to someone who often has details specific to their bank account. The victim is then instructed to “protect” their funds by either:
- Withdrawing money from their bank accounts and depositing it into a crypto ATM or traditional ATM
- Purchasing gift cards
The scammer then takes the deposited money or steals the information from the gift cards. What these actions actually do is funnel money directly to the scammers, disguised as a method of safeguarding the victim’s account.
Banks affected by the scam
The scam has been reported at various major U.S. banks, with the police identifying:
- Wells Fargo
- Bank of America
- PNC Bank
- Other banks yet to be disclosed
Due to the sophistication of the messages and the extensive customer base of these banks, officials are concerned that additional victims may have been targeted without their knowledge.
What authorities are warning about
Prince George’s County Police are advising residents to exercise extra caution and avoid responding to unsolicited texts or calls about banking matters. Instead, they recommend:
- Calling the official number on the back of your bank card
- Visiting a local branch in person
- Hanging up immediately if pressured to transfer money or provide sensitive information
These precautions align with guidance from the Federal Trade Commission (FTC), which has been monitoring a significant increase in similar scams across the country.
Rising bank fraud in the U.S.
According to FTC data, U.S. consumers lost more than $470 million to impersonation scams last year – marking a fivefold increase since 2020, despite a drop in overall fraud reports.
Scammers are using more advanced techniques, including:
- Fake package delivery notifications
- Fraudulent job offers
- Messages about wrong numbers that escalate into financial scams
These schemes are often interconnected, creating complex webs of deception that are hard to identify before it’s too late. How the scammers are choosing their victims and accessing the victim’s sensitive banking information remains under investigation.
How to report suspicious messages
If you receive a suspicious text message, don’t delete it right away. The FTC recommends forwarding it to 7726 (SPAM) – a centralized system using mobile carriers to track and block scam messages.
Anyone who believes they have been victimized by a scammer or has information about a scam is advised to call the PGPD Financial Crimes Unit at 301-516-1464.
Take precautions before it’s too late
This type of scams rely on fear and urgency to trick victims into taking actions without thinking first. Stay calm and don’t rush. Instead:
- Verify directly with your bank
- Maintain a skeptical mindset
- Report any suspicious communication right away
With losses already reaching six figures in just one county, this scam serves as a critical reminder for consumers everywhere to stay vigilant.
