ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

A Closer Look at How a 'Verified' Bank Call Cost a Customer $10,000

Whitney's video has served as a wake-up call, prompting individuals to be more cautious when dealing with unsolicited calls.
PUBLISHED FEB 8, 2024
Cover Image Source: Bank call scam | TikTok | @whitneyhouchin90
Cover Image Source: Bank call scam | TikTok | @whitneyhouchin90

In the United States, there's been a surge in fake bank calls leading to scams. Scammers pose as representatives from legitimate banks, tricking innocent victims into divulging access codes for their accounts or cards. Many have fallen prey to these scams, resulting in significant financial losses. A recent incident involving TikTok user Whitney (@whitneyhouchin90) has taken the internet by storm, raising awareness among individuals regarding such schemes.

Image Source: TikTok|@whitneyhouchin90
Image Source: TikTok | @whitneyhouchin90

In the video, she recounts her unfortunate experience of being duped by a fake bank call, ultimately losing $10,000 from her Discover bank account. The video garnered over 56,000 views, with many viewers relating similar encounters. Whitney described how she received unexpected calls from her bank, Discover, which raised suspicions. Despite that, she went on to trust the scammers.

Subsequently, she responded to the calls, naively confirming her mother's maiden name in response to a false emergency regarding her funds being pilfered. The scammers capitalized on her distress by claiming that an unauthorized attempt had been made to access her account via an ATM in Georgia, to which she denied any involvement.

The scammers executed the scam seamlessly, sending verification codes that appeared authentic, as they purportedly called from the Discover bank number. Fearing financial loss, she shared the codes with the scammers, unwittingly granting them unrestricted access to her account, resulting in a devastating loss of $10,000.

Image Source: TikTok|@whitneyhouchin90
Image Source: TikTok | @whitneyhouchin90

In another video, she voiced her frustration about how Discover handled her financial loss. Disappointed by the bank's lack of accountability for the funds she lost, Whitney expressed her dissatisfaction. She suggested that the bank should prioritize improving the training of its wire transfer and fraud departments.

Her anguish was heightened by the fact that the stolen funds included her hard-earned savings earmarked for her children's future. She revealed that the bank had pledged to retrieve her money through a wire recall, but if this effort proves futile, their options would be limited.

Image Source: TikTok|@whitneyhouchin90
Image Source: TikTok | @whitneyhouchin90

In December 2022, Discover Bank had to stop people from applying for its new checking account, which offered cashback and debit options. This pause in marketing and applications occurred due to the substantial rise of fraud, says CEO Roger Hochschild. Consequently, the bank opted to suspend new account applications and later reintroduced debit accounts in June 2023, incorporating additional features and safeguards to combat fraud. Image Source: TikTok|@whitneyhouchin90

Image Source: TikTok | @whitneyhouchin90

After the video began circulation, TikTok viewers were alarmed by the situation. Her story resonated deeply with the users, sparking discussions about the prevalence of such scams and the need for increased awareness and vigilance. Her willingness to share her ordeal has not only shed light on the dangers posed by fraudulent calls but has also prompted others to take proactive measures to protect themselves against financial exploitation.

MORE ON MARKET REALIST
The company received multiple complaints from customers finding wiry pieces of metal in the product.
15 hours ago
The survey results were nothing like any of them had anticipated.
16 hours ago
The soon to be birthday girl, Ja-Juana fell into temptation and lost the big prize.
17 hours ago
The player, Gary got too excited and almost tore down the prize board off the roof.
1 day ago
The player, Megan Zandrowicz, walked away with a fantastic $65,000 from the show.
1 day ago
In the end, the guest regretted using the beautiful Mettlach Cameo Platter for her parties.
1 day ago
The contestant Mary, won a trip to Vancouver as a perfect birthday present.
3 days ago
The player was in for another heartbreak after she failed to solve the puzzle.
3 days ago
The player, Elisa Butcher's risky dice roll stunned everyone as she won a brand new Volkswagen car.
3 days ago
The star of Boyz II Men got sentimental after looking at the item from their first album cover.
4 days ago
It wasn't an ordinary ring but the 2004 Patriots Super Bowl Ring, which Harrison refused to let go.
5 days ago
Harvey was in disbelief after he misheard what Ming-Na Wen's teammate said.
5 days ago
Harvey could feel the pain as he collected the answers from the contestants.
5 days ago
The owner of Harry Karstens' First Ascent Denali Ice Axe was shocked to learn how valuable it was.
6 days ago
As model Rachel Reynolds slammed on the brakes, fellow presenter Alexis Gaube nearly fell over.
6 days ago
Harvey couldn't believe his eyes when an answer did not show up on the board.
7 days ago
The winner, Trish yelled "This cannot be happening!" as she sat in her new car.
7 days ago
Harvey was shocked to see some of the answers show up on the board.
7 days ago
The seemingly tough puzzle cost contestant, Kelly Amodio a brand new Mini Cooper.
7 days ago