Banker shares PSA on fraudsters scamming senior citizens of 'thousands of dollars' via SMS or calls

There has been a noticeable increase in incidents of scamming in the banking industry. Most of these scammers target senior individuals or others who are not familiar with technology or are not very good with finances. Many people have lost significant amounts of money, including their life savings, falling prey to these scams. It's important to be aware of some basics when it comes to scammers so as not to lose money. TikTok influencer and banker Lakshmy Sanchez (@lakshmysanchez) recently shared a video on how many individuals lose a lot of money by falling prey to these financial scams. The video has got 97K likes and 4238 comments on the site.

Sanchez starts the video by stating that she is unsure if she could talk about the topic but would share regardless of the consequences. She says, "I work in banking. I just sat down with a customer for about a little bit over four hours of my day." She reveals that she has been with the lady since 11 AM in the morning who possibly lost money to a scam. 

The influencer talks about how there is an "epidemic" of financial scams that are taking place. Customers would get a call from them saying somebody had tried to make a withdrawal and to call a number if it wasn't them. They would then call the number provided and the scammers would ask for details that individuals willingly provide.

She says, "And they are actually giving all of their credentials to these scammers who are then going to log into your online banking and wire money out of your account." They maintain a premise that they are transferring the funds into a secure online account and would keep it there for some time before returning it. Alternatively, they ask individuals to go to their bank and make a withdrawal to be deposited into a Bitcoin machine. It's clear that in both cases, people will probably never see their money again.

Sanchez says, "And people are doing it. People are doing these things. They are following these instructions." She goes on about how scammers usually target older people, taking advantage of their lack of knowledge when it comes to digital banking. The influencer hopes that people will send the video to their grandparents and other older people in the family so they know about these scams. She advises people to immediately hang up the phone in case of such calls and consult their bank immediately.

She then talks about how many people end up losing thousands of dollars with these schemes. Sanchez points out, "No company, no financial institution will ask you to provide credentials to confirm that you are you." She mentions how banks would not ask for debit card pins and social security numbers over a phone call. She concludes the video by asking people to send the video to elderly people so that they don't lose their money.

Individuals on the site appreciated the woman's helpful video and shared their thoughts in the comments section.@enchantinglycristina said, "I work at a bank and this happens all the time. We had someone today. Same situation." @emoney20230 commented, "This makes me so angry! Thank you for sharing to make others aware."