An 81-year-old woman, Gladys Baxley, lost her entire life savings to a Social Security scam. She received a call from someone claiming to be from the Social Security Administration, who told her her Social Security number was compromised.
Fake Certificate and Large Transfers
The caller sent Baxley a fake certificate claiming to be from the “U.S. Supreme Court House,” stating she needed to move her money to protect it. Believing the scam, Baxley sent over $109,000 from her bank account to the criminals in several transactions. This included $15,000 she withdrew in cash and mailed via UPS.
Bank’s Response
Baxley’s sons are blaming the bank, Eagle Bank, for not questioning the large transactions. They argue the bank should have been more cautious about the legitimacy of the recipients.
Eagle Bank responded by stating they followed proper protocols and are working with Baxley to recover the stolen funds.
Scams on the Rise
The FBI reports that scams targeting people over 60 increased by 11% in 2022, reaching a staggering $3.4 billion in losses.
