FBI Warning: ‘Phantom Hackers’ Could Easily Wipe Idaho Retirement Accounts

If you’re anything like us, one of your biggest fears is that your not so tech savvy parents will fall for some scam on the internet and lose their life savings. Unfortunately, there’s another scam that’s primarily targeting the elderly. 

The FBI wants Idahoans to take their warning about something called the “Phantom Hacker Scam” seriously. At its core, the Phantom Hacker scam is similar to a tech support scam that you’ve probably been warned about through that annual cyber security training your office makes you take. However, there are so many layers to the scam that it starts to become believable. 

READ MORE:  6 Of the Most Common Scams Affecting Idahoans 

How Does the “Phantom Hacker Scam” Work?

There’s three layers and three “people” involved in this scam. The first person that reaches out through a phone call, text, e-mail or pop-up is posing as someone from a real and respected technology company. Their goal is to get you on the phone so they can convince you that there’s a possibility that your computer has been compromised. If they’re good enough, you’ll follow their instructions to install software that allows them to run a “virus scan” for you. Of course, that scan will show that you were “hacked” and your financial accounts are at risk. Now they’ll ask you to pull up your bank accounts so they can take a deeper look into which ones need attention. In reality? They’re looking at which one they’d like to steal from. 

Get our free mobile app

Then they pass you off to the “fraud department” at your bank. When that department contacts you, they tell you that the hackers are from a foreign country so you need to move your money to an account with the Federal Reserve or another government agency. The red flag here should be that they instruct you to move money to that “account” through wire transfer, cash or crypto. If you’ve watched enough true crime docs, especially the Tinder Swindler, any time you’re asked to make a wire transfer, something probably isn’t right. 

Finally, they’ll pass you off to yet ANOTHER person who pretends to be from whatever government agency you’re setting up your “safe” account with. They’ll reassure you that you’re doing the right thing and use official looking emails or letters to make themselves look legit. 

None of these people are real. They’re trying to completely drain your accounts or retirement money. 

Their tips are pretty common sense. Don’t click on unsolicited links, call numbers you don’t know or download software sent to you by a stranger. Also, know that the government will never ask you for wire transfers, crypto or gift cards. 

What Should You Do If You or a Family Member Has Been Targeted by a Phantom Scammer

The FBI would like you to reach out to their Internet Crime Complaint Center with as much information as possible including names of people and companies they used. They also want to know how they contacted you and the accounts you transferred your money to.