ROCHESTER, NY – Advantage Federal Credit Union says it noticed a new variation of financial scams earlier this month targeting customers over 60. The scammers are deceiving customers by using the bank’s real phone number.

Nihada Donohew, vice president of branch management at Advantage Federal Credit Union, explains how the scam works:

“So a customer gets a call and says, ‘Hey, this is your financial institution. We noticed there’s fraud on your account.'”

Donohew says the scammers claim they are from the bank, and even the number that appears on the caller ID is the bank’s number.

“The customer, in turn, thinks he is talking to a real financial institution and passes the code to the fraudster,” Donohew said.

Berkeley Brean, News10NBC: “And that’s an example of something that’s actually happening.”

Nihada Donohew: “Uh, yeah.”

According to AARP, $28 billion is stolen from Americans over 60 each year. This week, Lifespan’s head of fraud prevention warned dozens of people about the scams they face.

Berkeley Brean: “What shocks you when you give these presentations?”

Dan Lyon, Fraud and Scam Program Manager, Lifespan: “The people who come up to me afterwards, as you saw here today, and whisper quietly in my ear: ‘That happened to me.'”

Nihada Donohew: “The key to curbing this trend is for consumers to be vigilant and not reveal this information to anyone.”

If you receive one of these calls, hang up and call your bank. Do not dial the number on your phone, as this could put you back in touch with the scammers. Actually dial your bank’s number.

If you’ve been hacked, contact the police and then call Lifespan. The government agency that helps victims can reimburse you $100 for each fraudulent transaction made against you. Lifespan can help you with this process.

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