Planet Money So you've been scammed, now what?
8 snips
May 29, 2024 Explore the dark world of online scams as one woman's harrowing journey unfolds. After losing over $800,000, she navigates the complex landscape of recovering her money, confronting deceptive fraudsters and the emotional fallout. Learn about the hurdles in getting banks to reimburse victims, highlighting the need for better consumer protections. The intense pursuit of justice showcases the psychological grip of scams, as she balances disbelief and hope, unraveling the intricate connection between trust and betrayal.
AI Snips
Chapters
Transcript
Episode notes
Frances's Initial Scam Contact
- Frances received a voicemail about a suspicious $50,000 wire transfer, leading to contact with "David Smith."
- "David" claimed to be from Citibank's security department, investigating a potential network attack on Frances's accounts.
The "Russian Hacker" Story
- David Smith convinced Frances she was targeted by Russian hackers and he was working with the FBI.
- He said they needed to secure her accounts, requiring complicated fund transfers.
Family Intervention
- Frances, still believing the scam, revealed the situation to her family at Christmas dinner.
- Her family immediately recognized it as a scam, leaving Frances shocked and embarrassed.