A Portsmouth bank customer narrowly avoided becoming the latest victim of a sophisticated financial scam after bank employees noticed something wasn’t adding up.
Portsmouth police were called to the DESCO Federal Credit Union main branch on Chillicothe Street after employees became concerned about unusual activity involving a customer’s account.
According to the report, large amounts of money had been transferred into the woman’s account from an unfamiliar source.
The woman told police she had no idea where the money was coming from.
🚨 THEN CAME THE $30,000 REQUEST
The situation became even more suspicious when the woman told bank employees she had been contacted by an unknown man who instructed her to wire $30,000 to another account.
Fortunately, bank employees refused to process the transaction and contacted law enforcement instead.
According to the report, the woman said she had never met the individual in person and had only communicated with him by phone.
She was unable to provide investigators with a phone number and said she had not spoken with him recently.
👀 POSSIBLE IDENTITY THEFT DISCOVERED
Bank employees uncovered another alarming detail.
According to the report, someone had apparently opened an account in the woman’s name at a bank in New Jersey.
Police advised the woman to contact the Social Security Administration and take steps to secure her personal information.
Because she had not actually lost any money, she declined to file a criminal report at that time.
💰 HOW THESE “MONEY MULE” SCAMS WORK
What happened here has many of the hallmarks of what’s known as a “money mule” scam.
In these schemes, criminals transfer stolen or fraudulent funds into the account of an unsuspecting person.
The victim is then instructed to:
- Wire the money elsewhere
- Send it through payment apps
- Withdraw cash and mail it
- Convert it to gift cards or cryptocurrency
The scammer often claims:
- It’s part of a job opportunity
- They’re helping move business funds
- It’s an investment opportunity
- They’re overseas and need assistance
- The money belongs to them
The victim is told they can keep a portion as payment.
What they often don’t realize is that the money may be stolen.
⚠️ RED FLAGS TO WATCH FOR
Financial experts recommend being extremely cautious if:
- Money appears in your account unexpectedly
- A stranger asks you to move money
- Someone offers a commission for handling funds
- You’re asked to wire money to someone you’ve never met
- The transaction involves secrecy or urgency
- Someone says, “Just trust me.”
A good rule of thumb is simple:
If a stranger deposits money into your account and immediately asks you to send it somewhere else, there’s a very good chance you’re being used as part of a scam.
👏 BANK EMPLOYEES MAY HAVE SAVED THE DAY
In this case, bank employees recognized the warning signs before any money was sent.
Had the transfer gone through, the woman could have found herself entangled in a fraud investigation despite believing she was helping someone.
Instead, the transaction was stopped before any money left the account.
Sometimes the best fraud prevention tool isn’t technology.
It’s a banker willing to ask, “Are you sure you know who you’re sending $30,000 to?”
