Ottawa man intercepts bitcoin scam targeting elderly woman
An Ottawa man found himself intercepting an investment scam Friday afternoon.
Tom St. Denis was on his lunch break at the Kanata Indian Supermarket when he happened to pass by an elderly woman being guided over the phone to use the store’s bitcoin ATM.
He got in his car to leave, but a bad feeling drove him back inside. When he asked the woman why she was using the machine, his bad feeling was justified.
“She was telling us about some form of investment and that she was helping with a fraud case. If she transferred the money, she would get paid $300 to keep for her troubles,” St. Denis recalled Sunday.
“Immediately, the red flags went up – this is clearly a scam.”
The woman, who wishes to remain anonymous, was initially fooled by a spoofed caller ID – a 902 area code and a person on the other end who claimed to be a Scotiabank representative.
They had her install malicious software on her computer and her banking credentials were soon compromised. Not long after, a deposit of $1,200 appeared in her savings account. She was told to buy $1,000 in gift cards and that she could keep the remaining $200 for her troubles.
In reality, the deposit was her own credit being manipulated by the scammer.
When St. Denis approached her Friday, the woman was ready to send $4,000 of her own money.
“She simply wasn't aware that you could fake [caller ID] and that installing random software from a stranger is a huge security risk,” he said. “$4,000 is a lot of money, and for a pensioner that could have been crippling.”
St. Denis convinced her to hang up on the fraudster after explaining the mechanics of the scam. The two then headed to a nearby Scotiabank location to lock down her accounts and begin a fraud investigation with the bank.
The Ottawa Police Service says it receives 30 to 40 fraud reports a day – many being variations of the investment scam St. Denis intercepted.
“We are too trusting of a community that we believe everything,” said Detective Shaun Wahbeh. “When someone calls us and tells us something, we believe it, so we're a prime target for overseas fraudsters.”
Wahbeh says once money is sent to fraudsters, it is almost impossible to recover.
“The reality is the banks are not going to reimburse you because you've done this willingly,” Wahbeh said.
He reminds residents to stay vigilant amid a rise in investment and crypto scams.
“Once you hear the word crypto or bitcoin or even gift cards, it's a red flag,” he warned. “No legitimate business deals with those kind of financial currencies.”
A software engineer by trade, St. Denis says there are ways for tech savvy people to help out their less adept family members.
“A prime example would be to set them up as a non-administrator on their own computer so they can't change settings,” he explained. “Another way, especially with Windows, is that it has what they call Microsoft Family - so you can create a child account for elderly or highly-gullible people from that.”
The Canadian Anti-Fraud Centre has received more than 62,000 reports of fraud nationwide since the start of the year. More than $554 million have been lost to scams in 2024.
CTVNews.ca Top Stories
Serial sexual offender linked to unsolved 1970s homicides of four Calgary girls, women
An investigation into unsolved historical homicides from the 1970s has linked the deaths of two girls and two young women in and around Calgary to a now-deceased serial offender.
Wildfires are dampening against cool, rainy weather, but there's plenty left to contain
An opportune system of cool, wet weather Friday is dampening the spread of wildfires across Western Canada, but there's still plenty of work for responders and residents alike.
Woman with liver failure rejected for a transplant after medical review highlights alcohol use
For nearly three months, Amanda Huska has been in an Ontario hospital, part of it on life support, because of severe liver failure. Her history of alcohol use is getting in the way of her only potential treatment: a liver transplant.
$500K-worth of elvers seized at Toronto airport
Fishery and border service officers seized more than 100 kilograms of unauthorized elvers at the Toronto Pearson International Airport on Wednesday.
Dabney Coleman, actor who specialized in curmudgeons, dies at 92
Dabney Coleman, the mustachioed character actor who specialized in smarmy villains like the chauvinist boss in '9 to 5' and the nasty TV director in 'Tootsie,' has died. He was 92.
Information commissioner faces $700K funding shortfall, says system is 'overwhelmed'
Canada's information commissioner says her office is facing a $700,000 funding shortfall that could impact its ability to investigate complaints about government transparency and accountability.
Backlash over NFL player Harrison Butker's commencement speech has reached a new level
The NFL is distancing itself from controversial comments by Kansas City Chiefs kicker Harrison Butker during a recent commencement address.
Craig Berube named as next head coach of Toronto Maple Leafs
The Toronto Maple Leafs have named Craig Berube as their new head coach.
B.C. man 'attacked suddenly' by adult grizzly near Alberta boundary: RCMP
A B.C. man is recovering from multiple injuries after he was "attacked suddenly" by an adult grizzly bear near Elkford Thursday afternoon.