Scammers have defrauded a Mid Wales woman by tricking her into buying over £10,000 worth of gold.
The elderly woman fell victim to the ‘courier fraud’ (outlined below) after being conned into believing she was working with police to prevent fraud.
DC Gareth Jordan, from Dyfed-Powys Police’s cybercrime team, explained the recent crimes had seen victims called by someone purporting to be a police officer from Paddington Police Station.
DC Jordan added: “The fake police officer tells them about fraudulent activity on the person’s bank card, or tells them that they need to transfer money to another account due to suspicious activity.
“It is the prelude to courier fraud, where someone comes to pick up the bank card, after extracting all the details such as PIN from the victim, or getting the person to go to the bank to withdraw money that can then be collected or sometimes transferred into other accounts.”
It can also lead to victims being instructed to either buy gold bars or high-valued watches.
“What is worrying is that it can be just the start of further fraudulent activity including phoning the victim up stating they are the bank and getting the victim to transfer money to another account in the deceitful belief that their own account is now at risk due to fraudulent bank card use. The third part is investment fraud and gold purchases.”
Since October, the force has received complaints of 62 courier fraud calls. Thankfully, 52 of the potential victims realised it was fraud, with a further five prevented when the bank intervened.
Sadly, five people fell victim to the criminals – two handed over gold, while three gave cash.
Their total losses were £63,000.
The three phases of courier fraud
The scam begins when a person, usually male, phones the victim pretending to be a police officer who explains that the victim’s bank accounts are under threat from fraudsters.
He convinces the victim to participate in a fictitious undercover police operation to catch the fraudsters and safeguard their funds.
They are told not to inform anyone, including their bank, as bank staff are equally under suspicion. Often the bogus police officer discloses private financial information about the victim, which is used to encourage the victim to trust them.
First phase: To influence the victim, the suspect asks about his/her bank account balances and overdraft facilities in place. The victim is then instructed to withdraw a small amount of cash (depending on victim’s bank balance). Victim is instructed to hand over the cash to a courier who must confirm a password/pin number provided by the suspect. Victim is later called on the phone and told most of the cash was identified as counterfeit.
Second phase: Once the victim trusts and believes the suspects’ instructions, he/she is provided with several bank account numbers (mule accounts). Victim is instructed to move a large amount of their money (as high as £300,000) into what is purported to be “safe” accounts, which are actually the mule accounts. Often the holders of the beneficiary accounts are third parties (patsy) who are unaware of the sources of the credit in their account. The money is quickly dissipated from the beneficiary accounts into accounts outside UK jurisdiction. Monies in the beneficiary account may simply be withdrawn from any UK ATM.
Third phase: Victims are instructed to either buy gold bars or high-valued watches. Again these items are handed to a courier who confirms a password given to the victim over the phone by the suspect.
DC Jordan said the order of the phases changes from victim to victim.
He said: “The suspects invest a considerable amount of time and effort in building a rapport with the victim.
“They usually instruct the victim not to divulge any details to anyone because the ‘operation’ must remain covert. Victims are coached with a cover story for bank staff, if their transactions (unusual) are flagged by the banks safety measures.”
Please remember – and tell others:
If you think you, or someone you know, may have been targeted by scammers, please report it to us online:
https://www.dyfed-powys.police.uk/en/contact-us/report-an-incident/, by email 101@dyfed-powys.pnn.police.uk or call 101.
Always call 999 if you feel you are in immediate harm or danger.