FROM FOX NEWS: A cybersecurity expert warns that a scam that has been used to drain entire life savings or retirement accounts has become “devastating” for seniors.
FBI Los Angeles on July 15 posted a reminder on X about the Phantom Hacker Scam, which has cost Americans over $1 billion since at least 2024, according to the agency. The FBI said the scam targets senior citizens and warns that victims could lose their “life savings.”
The scam operates in three phases: a “tech support impostor,” “financial institution impostor” and a “US government impostor.”
In the first phase, a tech support impostor contacts victims via text, phone, or email, directing them to download a program for remote access. The scammer then asks victims to open their financial accounts to check for unauthorized charges. Then the scammer selects an account and pretends to receive a call from the bank’s “fraud department” for further instructions.
In the second phase, the financial institution impostor calls the victim, claiming their funds have been accessed by a foreign hacker and must be moved to a safe third party account.
In the third phase, a U.S. government employee impersonator contacts the victim, urging them to transfer funds to a protected “alias” account.
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