Most scams work by making us think we can get something for nothing. It could be a big prize, free grant money, or a lot of pay for very little work.
But one of the biggest scams right now is different.
Sue received an email, supposedly from PayPal, about a purchase she never made. It was an iPhone 14 and she had been charged $699.
The email said if she didn't make the purchase, to call a number.
That's how it started.
Just hours later, it ended with scammers taking $70,000 from her bank accounts.
Why are so many people losing money to this kind of scam?
Sue's telling her story so you can learn, warn others and keep your money.
These scams lure you by forcing an action.
Your account is being charged for a fake subscription renewal or a big expense. You're told to call a certain number if it's a mistake.
Scammers know most of us will call, as Sue did.
Sue says the supposed PayPal worker told her the money could only be refunded through her bank.
The scammer sent a link.
It gave him remote access.
Sue says she was told to type $150 into her bank account.
It was part of the refund she was trying to get.
But she says somehow, the numbers changed on the screen.
"I saw the $150 disappear and it turned into $15,000. I said, 'I didn't put in that $15,000.' He said, 'it's not your fault,'" Sue says.
The scammer now had Sue convinced she'd been over-refunded by thousands of dollars
"I thought, 'oh my God. That's not my money. I have to get it out.' I didn't want to get in trouble," she says.
The scammer worked Sue's emotions.
"He started to cry and said, 'if I don't get this money back, I'll lose my job. I have a wife and kid,'" she says.
Now, Sue was in deep and didn't see the big red scam flags waving in front of her.
Scammers told her to take out $14,000 cash and send it somewhere.
She did.
They told her to lie to the bank that it was for a wedding.
She did.
But when they told her the cash delivery didn't make it, and she needed to pay the amount in gift cards or bitcoin, Sue woke up.
"Oh my God, what do I do? I didn't do this. I didn't do this," Sue remembered thinking.
She went back to her local Bank of America branch.
It was too late.
"I saw all the activity that was done and that the accounts were all... down to zero," she said.
That $70,000 loss included money from accounts for her two children.
Sue's advice now is don't reply to emails or texts requiring action.
If you need to contact a business, find legitimate numbers.
"I have been very cautious with what I do now. I question everything," she says.
Thanks to Sue for sharing her story to help others.
We've contacted Bank of America trying to get some money back for her.
These scams can involve the names of many different legitimate companies.
PayPal warns of the latest scams involving their name.
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