BARNEGAT – The impact of bank and investment fraud scams is soaring in Barnegat Township, with thousands lost as scammers become harder to detect and defeat.
Barnegat Township Police said they receive two to three reports a day of these dangerous robocalls. Since 2021, locals have lost $500,000 to scammers because of new technologies which make robocalls harder to recognize.
While the tactics or messaging may vary, these robocalls tend to follow the same script. You may receive a phone call from a suspicious number, with the caller asking you to confirm specific charges on your bank account. Once you confirm these charges, the caller claims your account has been compromised.
After the scammer informs you that your account has been compromised, Barnegat Police Detective Rob Armstrong said some scammers then instruct victims to cut up their debit or credit cards and give the card’s chip to an unidentified courier. Others ask victims to move their money into a crypto ATM machine.
“People go to the bank, withdraw all their money and they’ll be directed to a crypto ATM,” Armstrong said. “Once it goes in there, it’s impossible to trace by then.”
As scammers are strengthening their methods to steal your money, it is important to be aware of these calls and how to protect your money. Scammers may attempt to pressure you by threatening your safety, but Armstrong said your instinct should be to hang up instead of comply.
“Time is on your side, don’t think you have to engage with them right away,” he explained. “Don’t give your money away to anybody, consult your family members or [Barnegat Police] before giving anything away.”
For those who fall victim to these scams, Armstrong said the most difficult part can be getting your money back. It is becoming harder to track down scammers with cryptocurrency systems that rely on virtual transactions, which are irreversible.
“Then they can’t pay their rent, they can’t pay bills, and they’re fighting with the bank to get reimbursed,” he said. “So it’s putting people in a difficult position.”
Armstrong explained that the most crucial move you can make to protect your money is not picking up the phone. If you receive repeated calls or text messages from a suspicious number, you can block and report the number.
“Any call that comes up with a phone number that you don’t recognize, don’t answer it,” he said. “Same thing with text messages. Don’t respond to any texts, no matter what the threat is.”
Barnegat Police performs presentations on robocall scams and what you can do to protect yourself and your money. For more information, you can visit the Barnegat Police Department’s Facebook page.
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