Farro Mackenzie, a small business owner from British Columbia, never expected to become a victim of a phishing scam. Her ordeal began with a seemingly innocent text message from what she believed was her bank, requesting her to verify a recent transaction. Following her response of "no," her phone rang again, displaying the caller ID as TD Bank.
During the call, Mackenzie felt as if the caller was reviewing her bank statement, prompting her to confirm various charges. Initially, she indicated that several charges were not authorized, but when asked about one specific charge, she inadvertently affirmed its legitimacy. This interaction, she later realized, was part of a well-orchestrated scam.
Days later, Mackenzie received another call indicating a suspicious transaction once more. It wasn't until she visited her bank to conduct a transaction on her business account that she learned the shocking extent of the fraud. The bank teller revealed her account balance, which shocked Mackenzie; she initially believed there had been a mistake, thinking the total was missing a zero. In reality, she had lost a staggering $83,000 through two unauthorized transactions.
TD Bank staff later informed her that the texts and phone calls she had received were from fraudsters using spoofing technology, which allowed them to impersonate the bank on her caller ID. This scheme reflects a troubling trend in how fraud is evolving, according to Jeff Horncastle from the Canadian Anti-Fraud Centre. Horncastle noted that such incidents are increasingly common and highlighted the need for greater awareness among consumers.
Although it is difficult to determine precisely how Mackenzie fell victim to the scam, Horncastle explains that fraudsters often seek a two-factor authentication code when attempting to access bank accounts. They might exploit personal information obtained from past data breaches to make their approach appear legitimate. Therefore, it's often the final piece—a two-factor code—that allows them to gain unauthorized access.
CityNews reached out to TD Bank for comment regarding Mackenzie’s situation. A spokesperson confirmed that the bank was investigating the matter and had been in contact with Ms. Mackenzie. However, it remains uncertain whether she will recover any of the funds that were lost.
Experts recommend that anyone who is unsure about a call or text supposedly from a known contact should independently verify the communication by locating the official number and calling back, preferably using a different phone line. Following this advice could help prevent further victims from falling prey to similar scams in the future.
