At BMO, history repeats itself: another fraud victim, this time for $20,000, is denied a refund while the hackers continued their maneuvers after the denunciation.
“I worked hard to earn this money and I have practically nothing left,” regrets Aline Bonin, 57.
Ms. Bonin has been unemployed since December, and after the death of her son in spring 2022, her restaurant was closed due to a shortage of workers. She also had to sell her house to pay off debts.
“This story gnaws at me. I had had enough of the hardships. I thought I could relax a bit and finally mourn,” said the woman, who will soon be at the end of her savings because of the theft.
On November 13, without his knowledge, a $5,000 cash advance was placed on his credit card. The next day, two transfers of $5,000 each were made from his bank account to Giovanni D. Allissandro, a total stranger. The Global Transfer functionality was used. It has been offered by BMO since 2021 to facilitate international mobile money transfers. A BMO customer for almost 15 years, Ms. Bonin had never made an international money transfer before.
“How come the bank allowed these $5,000 transfers without notifying me when we have a $3,000 a day withdrawal limit?” asks the Mirabel lady.
Concerned and distraught upon learning of the scam on November 14, Ms. Bonin immediately contacted her bank branch. She would then have been reassured by being told that her card and account would be blocked.
The fraud continues after the whistleblowing
However, on November 17, she was amazed to discover that another $5,000 had been stolen from her, still by the same recipient. She went to the bank where she was told her account was not blocked.
“I couldn’t even speak at first. And they made me feel so bad like I was dishonest. I was ready to take a lie detector!” said the lady, who afterward didn’t dare pay her bills with her cell phone for fear of making a mistake. His confidence in his banking institution has been shaken.
A few weeks before the scam, Ms. Bonin had received phishing emails on her phone without her knowing. A scammer pretended to be his daughter-in-law and asked for a $500 wire transfer. The lady, who didn’t speak English well, had clicked on the link that took her to what appeared to be BMO’s website, where she was asked to connect to her bank account. Then nothing happened and the transfer request disappeared. Checking with daughter-in-law, she had never sent a request.
More than three months after the events, Ms. Bonin is still trying to get a refund from BMO.
Never two without three
Keep in mind that this isn’t the first time BMO has come into conflict with customers who have been victims of fraud.
Here are other similar stories:
Fraud on the rise
A recent Ipsos survey for Chartered Professional Accountants of Canada (CPA Canada) shows that 31% of people aged 55 and over have experienced financial fraud in their lifetime. Among 18 to 34 year olds, the proportion rises to 63%. Online banking services are a prime target. The most common types of fraud are credit cards (21%) and then phishing (8%).
Hackers often clone legitimate websites to steal banking information. For your own protection, make sure the address starts with https and not http. It’s also important to never access sensitive data over public or unsecured wireless networks.
• Also read: Financial fraud: young people most at risk