#10812 min
What’s up fraud fighters! Welcome to Fraud Forward.
Today I want to talk about a scam type that keeps showing up in conversations with fraud teams across the country. Tech support scams.
If you work in fraud, in a call center, or even on the branch side, you have probably seen this scenario play out. A customer calls in or walks into the branch absolutely convinced that their computer has been hacked or their accounts are compromised. They are scared. They feel urgency. And they believe someone on the phone is trying to help them fix it.
But what is really happening is a coordinated scam.
According to the IC3 2023 Internet Crime Report, tech support scams have surged dramatically, with reported losses increasing by 165 percent in just two years. And what breaks my heart about these cases is that they often impact older customers or people who already feel overwhelmed by technology.
In this episode, I walk through how these scams actually unfold in real-world situations and how banks and credit unions can intervene more effectively.
I also share a case involving a minister who became caught in a layered fraud operation. When you hear the full story, it becomes really clear that these scams are not simple tricks.
They are psychological operations.
Scam networks combine digital impersonation fraud, remote access manipulation, and high-pressure social engineering to override even cautious judgment.
Many tech support scams start in ways that feel surprisingly believable.
Sometimes it is:
- A pop-up warning saying your computer is infected
- A phone call claiming to be from a trusted technology company
- A fake security alert urging you to call a support number immediately
Once the victim makes contact, the scam begins to escalate.
The scammer may ask the victim to:
- Grant remote access to their computer
- Log into their financial accounts
- Transfer funds to a “secure” account
- Initiate a high-value authorized transaction
And by the time those funds begin moving through domestic payment rails or across borders, the window to recover that money is already closing.
That is why I believe financial institutions play such a critical role here. We are often the last line of defense before irreversible loss.
What you’ll hear in this episode
- What the IC3 2023 Internet Crime Report tells us about the rise in tech support scams
- A real-world case that shows how layered manipulation unfolds
- The social engineering impersonation tactics used by scam networks
- How real-time fraud intervention can interrupt these scams
- Why bank law enforcement collaboration improves recovery and prevention
You should listen to this episode if
- Fraud detection or call center oversight falls within your responsibilities
- Your institution serves customers vulnerable to elder financial exploitation
- You are reviewing high-risk outbound wire detection controls
- Your organization is strengthening customer protection strategies
If you liked this episode, be sure to subscribe and review the podcast on iTunes, Spotify, YouTube, or wherever you listen to podcasts. It really helps more fraud fighters find these conversations.
Episode notes & key takeaways
Before we double click on the notes, I want to say something that matters deeply in cases like this.
When someone becomes a victim of a tech support scam, the first response should always be empathy.
My God, I am so sorry this happened to you. It is not your fault.
These scams are run by organized criminal networks that specialize in manipulation. Victims are not careless. They are targeted.
Tech support scams exploit urgency and authority
When I look at how these scams unfold, the common thread is always urgency.
Fraud actors use social engineering impersonation tactics to convince victims that something terrible is about to happen unless they act quickly.
They often pretend to be:
- Technology support companies
- Government agencies
- Financial institutions
The scam might start with a pop-up alert claiming the victim’s computer is infected or compromised. It might be a spoofed phone call telling them their accounts are under attack.
Once the victim is worried, the scammer escalates the situation.
That is when remote access fraud schemes come into play. The scammer may guide the victim step by step through granting remote access or moving funds as part of what appears to be a “security fix.”
What I want fraud teams to recognize is that these scams are not just transaction anomalies.
They are emotional manipulation campaigns.
When institutions understand that dynamic, response strategies become more intentional. Clear transaction pause protocols and frontline scripts can create space for intervention before funds leave the account.
Real-time intervention improves outcomes
One thing I have seen again and again is that timing matters more than almost anything else.
The earlier a fraud team intervenes, the higher the chance of stopping the loss.
Once funds move through cross-border scam networks or convert into other assets, recovery becomes extremely difficult.
That is why real-time fraud intervention strategies matter so much.
Institutions should be watching for signals like:
- High-risk outbound wire detection
- Unusual transaction timing
- Behavioral changes in customer activity
Structured customer transaction pause protocols give employees the ability to slow things down without immediately confronting the customer in a way that causes panic or resistance.
That pause can create the moment needed to break the scammer’s psychological hold.
I also believe strongly that frontline employees need to feel supported in escalating concerns. When institutions formalize coordination between fraud teams, call centers, and compliance groups, intervention becomes much more consistent.
Collaboration strengthens recovery and prevention
Another lesson that comes up repeatedly in these cases is that tech support scams rarely operate in isolation.
Call center scam operations often run across international boundaries. Victims may be in one country, while the scam infrastructure exists somewhere else entirely.
That is why bank law enforcement collaboration is so important.
Consistent reporting through the consumer scam reporting process allows investigators to connect the dots across institutions and identify larger scam networks.
Much of the data behind the IC3 2023 Internet Crime Report comes from these reports.
When financial institutions contribute intelligence and document cases clearly, it strengthens financial institution fraud advocacy and improves cross-border investigations.
Leadership also plays a role in prevention.
Institutions that prioritize vulnerable customer protection often invest in:
- Customer education campaigns
- Proactive scam awareness outreach
- Frontline training for scam detection
These efforts not only reduce future losses, they reinforce trust.
Tech support scams will continue to evolve. But institutions that combine strong monitoring, empowered employees, and law enforcement collaboration will always be better positioned to protect their customers.
Final takeaway
Tech support scams are not simple fraud schemes. They are coordinated social engineering operations designed to exploit urgency and trust.
Banks and credit unions have a powerful opportunity to interrupt these scams by investing in:
- Real-time fraud intervention
- Structured transaction pause protocols
- Strong frontline awareness
- Collaboration with law enforcement
When those pieces come together, institutions become far more effective at protecting the people who rely on them.
The evolution of Banking on Fraudology
The mission stays the same:
- Elevate fraud prevention education.
- Strengthen banking community leadership.
- Support real operators inside community banks and credit unions.
- Build durable fraud community building frameworks.
- Advance fraud prevention thought leadership that is grounded, not hyped.
The future of banking fraud prevention depends on community.
The future of credit union fraud prevention depends on collaboration.
The future of fraud industry evolution depends on shared intelligence and values alignment.
We are leveling up.
And we are doing it together.
Stay vigilant, stay informed, and keep moving fraud forward.
