Fraud

Mark Nootbaar / 90.5 WESA

One year ago, Margaret Pietz was almost the victim of fraud when a man claiming to be a lawyer called her and said her grandson owed $4,000 in car repairs related to a traffic accident. He even put a young man on the phone who addressed her as “grandma.” 

Pietz started to realize something was up when she was asked to send the funds in the form of Target gift cards and to not tell anyone else in the family.

“He thought he was calling a gullible grandma,” Pietz said. “The more I thought about it, the more I knew it was a scam.”

Manuel Balce Ceneta / AP

 

 

The Supreme Court is upholding the broad reach of a federal law prohibiting bank fraud.

The unanimous ruling on Monday came in the case of a California man who illegally siphoned about $307,000 out of a Taiwanese businessman's Bank of America bank account.

Justice Stephen Breyer rejected Lawrence Shaw's claim that the law applies only when a defendant intends to cheat the bank itself — not a bank customer. Breyer said the bank has property interests in the customer's account and that Shaw misled the bank to steal the customer's money.

Thomas Kohler / Flickr

According to the Federal Bureau of Investigation, Pennsylvania residents lost more than $20.8 million to internet fraud in 2014.

This holiday season, the Pennsylvania Bankers Association is reminding people to be safe with their banking information when shopping with a credit card, whether online or in person.

According to the latest numbers from the Federal Trade Commission, 26 percent of all securities fraud is perpetrated against seniors, but seniors only represent 14 percent of the nation’s population.