Two Fall Victim to ‘Bank Examiner’ Scam

FOUNTAIN VALLEY —  Two retirees lost thousands of dollars when they fell victim to a “bank examiner” scam, police said Friday.

In separate phone calls Thursday morning, a man who identified himself as a bank security investigator told a 90-year-old man and a 72-year-old woman that someone was making unauthorized withdrawals from their bank accounts and asked them to help catch the thief, Police Lt. Mike Hanrahan said. The caller directed the retirees to cash checks for several thousand dollars and hand the money to another man posing as a police lieutenant, Hanrahan said. The caller did not specify how the withdrawals would help police.

Both victims, who bank in Fountain Valley, did as they were told.

“Upon leaving their banks, each was approached by a person who showed a false badge and ID card, identifying himself as the police lieutenant,” Hanrahan said. The victims never saw their money again.

The thefts occurred within 15 minutes of each other at the Bank of America branch in the 17900 block of Magnolia Street and Wells Fargo Bank in the 16000 block of Brookhurst Street, police said.

“Apparently, the person who portrays the phony lieutenant is not the same person who calls on the phone,” Hanrahan said. “We think there’s at least two different people involved here.”

Police said the victims did not know each other and there might be more victims who have not come forward.

“This bank examiner scam has been around since at least the ‘30s. It’s very old, and it’s very effective,” Hanrahan said. “In this case, they’re appealing to the senior citizens’ sense of civic duty.”

The victims are told that the money withdrawn will be credited by the bank to their accounts, Hanrahan said.

Investigators are asking anyone who may have been a victim of the scam to call the police department at (714) 965-4400.