Authorities say scammers are convincing South Jersey residents to withdraw large sums of cash and hand the money to strangers posing as representatives protecting their bank accounts.
EGG HARBOR TOWNSHIP, N.J. — Police are warning South Jersey residents about an increasingly costly scam in which criminals impersonate bank representatives and convince victims to withdraw thousands of dollars from their accounts before handing the cash to strangers.
According to an urgent public safety warning issued by Egg Harbor Township Police Chief Frederick Spano, local residents have lost thousands of dollars to the scheme in recent weeks, including one victim who lost more than $40,000 in a single incident Friday.
Police described approximately $40,000 as the average loss associated with the scam currently being reported in the area.
The warning highlights a sophisticated fraud operation in which scammers convince victims that their bank accounts have been compromised and that employees at their local bank branches may be involved.
The criminals then instruct victims to withdraw large amounts of cash and deliver the money to someone waiting in a vehicle, falsely claiming the funds will be placed in safekeeping.
Police say the entire scenario is fraudulent.
How the Scam Works
According to the police warning, the scam typically begins with a telephone call from someone claiming to represent a financial institution.
The caller tells the victim that their bank account is at risk and may suggest that employees at the victim's local branch are participating in suspicious activity.
The scammer then creates a sense of urgency, insisting that immediate action is necessary to prevent the loss of the victim's money.
Victims are instructed not to speak with bank employees, police or other individuals about the supposed problem.
They may also be told to remain on the telephone while visiting their bank and withdrawing cash.
Once the money has been withdrawn, the victim is directed to meet someone waiting in a vehicle and surrender the cash.
The scammers claim the money will be secured on the victim's behalf.
In reality, police warn, the victim is handing over personal savings directly to criminals.
Scammers Use Fear and Isolation
Authorities say the criminals rely heavily on fear, urgency and psychological manipulation.
Victims may be told that their accounts will be emptied unless they follow instructions immediately.
Scammers also attempt to prevent victims from independently verifying the claims.
They may provide fraudulent telephone numbers for financial institutions or arrange telephone transfers designed to make the operation appear legitimate.
Police warn residents not to trust telephone numbers supplied by suspicious callers or transfers initiated by those callers.
Instead, anyone receiving such a call should end the conversation and contact their bank independently.
The safest way to verify an account's status is to call the number printed on the back of a debit or credit card, use a telephone number appearing on an official bank statement or contact a known local bank branch directly.
Residents who believe they are being targeted should also contact their local police department.
Police Also Warn About Fake Arrest Warrants
The Egg Harbor Township Police Department is also reminding residents about another common scam involving criminals impersonating police officers, sheriff's officers or court personnel.
In these cases, victims receive telephone calls falsely claiming that a warrant has been issued for their arrest.
The caller then demands payment to resolve the supposed warrant.
Victims may be instructed to purchase gift cards and provide the card numbers and PINs or to deposit money into cryptocurrency or Bitcoin machines.
Police emphasize that legitimate law enforcement and court officials do not resolve arrest warrants by demanding these types of payments over the telephone.
Anyone receiving such a demand should treat it as a warning sign of fraud.
Residents Urged to Warn Family and Neighbors
Police are encouraging residents to discuss the scams with relatives, friends and neighbors, particularly individuals who may be more vulnerable to high-pressure financial schemes.
The department cautioned that many people mistakenly believe they would never fall victim to such tactics.
However, the recent financial losses demonstrate how effective the criminals' methods can be.
The warning also underscores the importance of recognizing that scammers may sound convincing, use seemingly legitimate financial terminology and create elaborate stories to gain a victim's trust.
Residents should be particularly suspicious of any unsolicited caller who demands secrecy, discourages contact with police or directs them to withdraw cash.
The central message from authorities is simple: No legitimate bank representative will instruct a customer to withdraw money and hand it to an unknown person waiting in a vehicle for safekeeping.
Anyone who receives such a call should hang up immediately, contact their financial institution using a verified telephone number and report the incident to police.
Residents seeking additional information can contact Egg Harbor Township Police Chief Frederick Spano at 609-926-4035.
Police are urging the community to share the warning before more residents lose their savings.
