Aleah McPherson’s bank account is $8,265 lighter these days. Sadly, the funds disappeared after she fell for a scam by someone impersonating a Wells Fargo employee, leaving McPherson and her fiancé devastated by the loss.
Don’t miss
I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don’t have to deal with tenants or fix freezers. Here’s how
Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10
“That was my savings. That was actually what I have been working for a while,” McPherson told Fox 5 Atlanta last month. She hopes that her story will serve as a warning to others so that they don’t fall victim to similar fraud and be left without their hard-earned money.
How a phone scam led to a huge loss
According to McPherson, the trouble started when she received a phone call from a 1-800 number associated with Wells Fargo to alert her to a serious problem. “Wells Fargo bank informed me there was fraudulent activity,” she said. “They will call you if there’s fraudulent activity on your account, so I didn’t think there was anything out of the ordinary. I’ve had this happen before.”
The scammer told McPherson she’d have to transfer her money out of her account to keep it safe while an investigation was carried out. McPherson believed she’d confirmed that she was actually talking to her bank, so she followed their instructions and emptied her bank account, sending the money via Zelle and a Chase digital wallet.
Although she thought moving the funds would protect them while Wells Fargo investigated the fraud, the reality is that the money disappeared into the accounts of the scammers.
Adding insult to injury, she also explained that the scammers mocked her for falling for their tricks. “Once you’re done talking to them, they’re all laughing in the background. They are telling you that you’ve been scammed and laughing.”
Sadly, McPherson is one of many who have fallen victim to scams in which thieves pretend to be trusted organizations, including financial institutions or government agencies. These scams are called phishing or spoofing scams, and the FBI’s 2024 Internet Crime Report revealed 193,407 complaints about them during the year, with victims collectively losing over $70 million.
Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
How to protect yourself from this scam
Scammers engaged in phishing and spoofing use many tricks to prompt you to act including:
Calling or texting to tell you your account has been compromised and you need to take action to fix the situation — which often involves sending money or providing personal details
Sending emails and links to fake websites to convince you to enter your financial credentials, such as forms to “reset” your username or password, because it’s fallen into the wrong hands
Threatening you with arrest, loss of funds, or other harmful consequences if you don’t send money immediately
Claiming you’re overdue on a payment and that you’ll lose account access if you don’t act
Scammers often create a sense of urgency and fear, prompting you to act fast before you have time to think.
Since they can make it look like they’re calling from a legitimate number or sending an email from a legitimate source, you can’t trust the caller ID or the name on an email. You need to be vigilant in protecting yourself, and there are a few best practices to avoid falling victim to a scam like McPherson did. Specifically, you should
Avoid answering any phone calls from unknown numbers
Hang up immediately if someone says they’re calling from a bank, government agency, or other trusted source. Find the phone number yourself and call back instead
Never give out sensitive personal details or passwords over the phone — legitimate companies won’t ask for things like PIN numbers, social security numbers, or phone verification codes. Make sure to only enter such information on verified digital platforms
Never follow a caller’s instructions to transfer money, regardless of the threats you hear on the phone
Avoid clicking on any links in suspicious emails. Always navigate to websites yourself instead by typing in the website address in your browser
By taking these steps, you can keep your savings safe and won’t find yourself with the money you worked so hard to work for wiped away like it was for McPherson.
What to read next
Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in great wealth. How to get in now
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
