Suffolk DA: Over $330,000 returned to couple who were victim of phishing scam

Cyber security expert Adam Schwam says the incident could have started with a username and password and then information criminals can run wild.

News 12 Staff

Dec 1, 2022, 3:46 AM

Updated 654 days ago

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An alleged thief convinced a couple to send them more than $300,000 of their life savings.
Police say the money has since been recovered but the threat still lingers
The Suffolk County District Attorney's Office announced Wednesday that over $330,000 was handed over by a Suffolk County husband and wife duped by Internet phishing scammer in India.
They say the scammer made false claims and manipulated electronic banking information, convicting the victims that the money had been erroneously deposited into their bank account and that it needed to be refunded.
Afterward, the couple deposited the funds into a crypto wallet, but the scammer locked them out of the account.
They contacted the Suffolk County Police Department who worked with the Financial Crimes Bureau from the District Attorney's Office to freeze the account and recover the money within two days
Cyber security expert Adam Schwam says the incident could have started with a username and password and then information criminals can run wild.
"I can see your mail and when they see your mail, they can see your flow, they can see your banking, everything that you're doing," Schwam says.
He says all financial transactions done online should include two-factor authentication.
Schwam also tells News 12 that the FBI likely assisted in the recovery of the money.