Scammers are targeting high school students and offering them “easy money” for use of their bank account to deposit fraudulently obtained cash, Ottawa police warned on Wednesday.
The fraudsters approach young people and talk them into sharing their bank card and PIN number in exchange for financial compensation, police said in a news release.
The scammers will then deposit money from another fraud into the student’s bank account and “immediately” make a withdrawal from the same account, the police service’s fraud unit said.
Banks will typically flag the deposit as a fraud and hold the card’s owner responsible for the money that was withdrawn, the release said.
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Teenagers – namely high school students with bank accounts – are often recruited for this scheme through acquaintances or social media sites, both with peer pressure and “the promise of easy money,” police cautioned.
The Ottawa Police Service is encouraging parents to talk to their children about this scam. Encourage them to never give out their banking information and emphasize they are responsible for all activity in their bank account, police recommended.
Police urge parents to contact their bank and have an account frozen if they believe they or their child have been implicated in a similar scam.