STRATFORD, Ontario — If your bank calls you out of the blue warning that your account has been compromised, do not act fast. That urgency you are feeling may be exactly what a scammer is counting on.
Stratford police are sounding the alarm on a sophisticated banking scam that has already cost local residents thousands of dollars — and it is still actively targeting people in the community right now.
How the Scam Works
The scheme starts with a phone call.
Scammers contact residents using numbers that appear to be real, legitimate bank phone numbers. To most people, the caller ID looks completely normal.
Once they have you on the line, they claim your bank account has been compromised and that immediate action is required.
They create panic. They create urgency. And then they give you instructions.
Where the Money Goes
Victims are told to withdraw cash from their own accounts and then send the money — either through gift cards or through Cash App.
This is the part that catches people off guard.
Gift cards and payment apps are untraceable. Once the money is sent, it is virtually impossible to recover.
Police say the scam has cost Stratford residents nearly thousands of dollars in the past month alone — and that number is expected to grow as the scam continues spreading.
What You Should Do Right Now
Police have a simple message: if you get a call like this, hang up immediately.
Do not follow any instructions given over the phone. Do not withdraw money. Do not send gift cards.
Instead, call your bank directly using the number printed on the back of your debit or credit card — or walk into your nearest branch in person.
Real banks will never ask you to send money through gift cards or payment apps. Ever.
Have you or someone you know received a call like this? Share your experience in the comments — you could help protect someone else in your community.
