Toronto Police Investigate Credit Card Fraud Targeting Seniors – A Growing Trend?

Toronto Police are actively searching for Majid Benmaou, a Montreal resident, in connection with a sophisticated credit card fraud scheme that has already victimized two individuals to the tune of $25,000. The case highlights a worrying trend of fraudsters specifically targeting vulnerable populations, particularly seniors, with increasingly convincing scams.

Majid Benmaou, pictured in a Toronto Police-released image, is wanted in connection with a credit card fraud investigation.

The Scam: Impersonation and Quick Purchases

The modus operandi involves fraudsters posing as bank employees, contacting victims by phone, and claiming their credit cards have been compromised. They then convince victims to surrender their cards under the guise of needing to replace them, often using a fabricated story about a courier service. Once in possession of the card, the suspects quickly make high-value purchases, specifically targeting jewelry stores.

In the first reported incident on October 1st, a Toronto resident was contacted and subsequently had their card collected near Cosburn Avenue and Pape Avenue. The card was then used to purchase $11,000 worth of goods from a jewelry store in Mississauga. A similar incident occurred just two days later, on October 3rd, with a victim near The East Mall and Evans Avenue losing $14,000 in jewelry purchases.

Beyond the Current Case: A Rise in Elder Fraud

This case isn’t isolated. Across Canada, and indeed globally, elder fraud is on the rise. According to the Canadian Anti-Fraud Centre, seniors are disproportionately targeted due to factors like politeness, a tendency to trust, and potentially, a lack of familiarity with current scam tactics. In 2023, Canadians reported losing over $530 million to fraud, with a significant portion impacting seniors. The actual figure is likely much higher, as many cases go unreported due to embarrassment or a belief that nothing can be done.

“We’re seeing a shift in sophistication,” explains Detective Sergeant Michael Riley of the Toronto Police Financial Crimes Unit. “These aren’t just random calls anymore. Fraudsters are researching their victims, using social media to gather information, and crafting highly personalized scams that are incredibly difficult to detect.”

The Role of Technology in Facilitating Fraud

Technology plays a dual role. While it enables law enforcement to investigate, it also provides fraudsters with new tools. Spoofing technology allows scammers to disguise their phone numbers, making it appear as though the call is coming from a legitimate bank or government agency. Social engineering techniques, combined with readily available personal information online, make it easier to build trust and manipulate victims.

Benmaou is currently facing over six charges, including fraud over $5,000 and possession of fraudulently obtained credit cards. Police believe he may be traveling between Quebec and Mississauga in a black Dodge pickup truck with Quebec license plate AKJ52Z. They urge anyone with information to come forward.

Protecting Yourself and Your Loved Ones

Here are some crucial steps to protect yourself and your family from becoming victims of credit card fraud:

• Never give out personal information over the phone: Banks and legitimate organizations will never ask for your credit card number, PIN, or other sensitive information unsolicited.
• Be wary of urgent requests: Fraudsters often create a sense of urgency to pressure you into acting quickly.
• Verify the caller’s identity: If you receive a suspicious call, hang up and call your bank directly using the number on your card or the bank’s official website.
• Monitor your credit card statements regularly: Look for any unauthorized transactions and report them immediately.
• Talk to your loved ones: Educate seniors about common scams and encourage them to discuss any suspicious activity with you.

Pro Tip: Consider placing a fraud alert on your credit file. This requires creditors to verify your identity before opening new accounts.

Reporting and Resources

If you believe you have been a victim of fraud, report it to:

• Toronto Police: (416)808-5500 or (416)222-8477
• Canadian Anti-Fraud Centre: 1-888-495-8501 or https://www.antifraudcentre-centreantifraude.ca/

Did you know?

You can freeze your credit report with Equifax and TransUnion, making it more difficult for fraudsters to open accounts in your name.

FAQ: Credit Card Fraud and Seniors

• What should I do if I receive a suspicious call from someone claiming to be from my bank? Hang up immediately and call your bank directly using the number on your card.
• Is it possible to recover funds lost to fraud? It depends on the circumstances. Report the fraud to your bank and the police as soon as possible.
• What are the most common scams targeting seniors? Common scams include grandparent scams, lottery scams, and romance scams.
• How can I help protect my elderly parents from fraud? Talk to them about common scams, help them monitor their finances, and encourage them to be cautious about sharing personal information.

Stay informed, stay vigilant, and protect yourself and your loved ones from the growing threat of credit card fraud.

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