Over $500,000 stolen from two local businesses due to bank impersonation scam, GJPD says

GRAND JUNCTION, Colo. (KJCT) – The Grand Junction Police Department (GJPD) is warning business owners about a financial scam involving individuals impersonating bank representatives.

Scammers are targeting businesses by posing as legitimate employees of financial institutions. They do so by using technology to make their caller ID appear as if it is coming from the business’s actual bank. These scammers use urgent language and tactics to pressure business owners into revealing sensitive financial information, including:

• Transaction Authentication Numbers (TRANs)
• Tokenized account numbers
• Account login credentials or other personal details

These numbers are then used to authorize Automated Clearing House (ACH) withdrawals, which allow them to move funds from the business’s account.

The GJPD says to watch out for the following red flags:

• Spoofed caller ID: The number may appear as your bank, but it’s not.
• Urgency and fear tactics: Scammers may claim your account is compromised and that immediate action is needed.
• Requests for sensitive data: No legitimate financial institution will ask for TRANs, passwords, or full account details over the phone or email.

So far, the scam has already resulted in over $500,000 in reported losses from two local businesses, according to the GJPD.

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