Americans lost $12.5 billion to fraud last year, and imposter scams were the third-highest category, according to data from the Federal Trade Commission.
Sarah Geathers, 69, of Volusia County said she was a victim.
“I’m very angry and I’m very upset,” Geathers said.
She was searching for a loan to purchase a new walker and shoes to accommodate her swollen feet from lymphedema.
“I wanted to have a little extra money on me, just to get some things that a lady would like to go shopping for,” Geathers explained.
While applying online for loans, Geathers received a call from someone pretending to be from LendingTree, informing her that she was approved.
“They said that I was approved for $1,000 to $3,000,” she recalled.
Geathers provided her banking information, and the scammer deposited a check for nearly $1,300 into her account.
Through social engineering, the scammer convinced her to buy two $500 gift cards from Walmart to send to them.
Soon after, her bank notified her that the initial check was fraudulent.
“I hate that people in their hearts want to take from other people like that,” Geathers said.
“Everybody is susceptible to a social engineering scam,” said Roger Grimes, a cybersecurity expert.
Grimes emphasized the dangers of social engineering, which involves building trust and manipulating individuals to divulge personal information.
“I just think that if you get hit at the right moment in your life with the right type of scam, we’re all susceptible to something, even though we thought we were not,” Grimes added.
If you’ve been the victim of a loan scam, experts advise filing a police report, securing your information, monitoring your credit report, and considering a credit freeze with all three credit bureaus.
“It was... disappointing,” Geathers said.
Remember, don’t fall for the scheme and don’t get ripped off, but if you do, email me at LBolden@wkmg.com.