TIMONIUM, Md. – A small business owner is recovering after losing more than $50,000 in a fraudulent bank scam.
It’s been months, but Hyeon-Jin Kwon is on track to get most of her money, and police say they’ve arrested the man who stole it.
This multi-layered fraud scheme took place in September. And it started when someone walked into her office in Greenspring while she was with a client, and handed her her wallet.
“They managed to take some credit cards, debit cards, but not my whole bag [then] it came out to about $2,300 between Walgreens and Walmart that day,” Kwon told WMAR-2 News Mallory Sofastaii in November.
READ MORE: Small business owner fights to get $50,000 after being targeted by bank fraudster
Kwon’s credit card companies flagged the transactions as fraudulent and returned her funds, but two days later, she received a call from someone claiming to be with Bank of America. They confirmed all her information and said they needed her authorization to stop a bank transfer
“They gave me a link to click, which I entered into my details and through it, she was able to access my bank account and take control. And she managed to close almost my entire checking account,” Kwon said.
About $56,000 was taken out of Kwon’s account and sent to a Chase account.
“The thief was able to withdraw $13,000 that morning through ATMs and counters,” Kwon added.
Immediately, these transactions were flagged by Chase prompting the bank to freeze the account along with Kwon’s remaining funds.
“Fortunately, I was able to recover the frozen funds that were in the Chase account,” Kwon recently told Sofastaii.
However, she had to wait until December 12 for the funds to be returned to her account. Kwon also received a response to her fraudulent ATM withdrawal claim in Florida.
“Bank of America has turned me down now for the fourth time, and I believe the last time, and they won’t make me full on the $13,500,” Kwon said.
She was able to file an insurance claim for up to $10,000, but the remaining $3,500 could be a loss.
After our WMAR-2 News report in December, Kwon got another call. This time from the Baltimore County Police Department.
“We had a whole big file ready to go, so it was pictures, dates, timelines, everything he needed, bank statements,” said Kwon, who meticulously compiled evidence and witness statements for police detectives. . Her investigation included video surveillance from her office complex of the man she believes stole credit cards from her office.
Two weeks after hearing from the police, she received another update.
“And they were able to find the thief who was arrested in Fairfax County, Virginia a few weeks ago, and he was doing the same thing,” Kwon said.
According to the police incident report, this individual has “an extensive criminal history in Maryland and Virginia of the same modus operandi of stealing credit cards from the offices of commercial businesses and then using them at retailers.”
“So all valuables are now locked up. I’ve added a Ring camera to the front, so at least we can monitor everyone coming in and out at all times. And I think, you know, we always keep our doors locked, especially in the evening,” Kwon said.
She warns others to take the same precautions and exercise restraint when speaking with a bank representative.
“Please hang up the phone. I think the best way to protect yourself is to just call the number directly, just to make sure you’re, you know, talking to someone from that company. And again, if there’s any sense of dread or just feeling rushed, I think that’s a big red flag,” Kwon recommended.
Baltimore County police have not said if the theft was connected to the bank fraud. They also have not released the suspect’s identity. As of Wednesday, he has been arrested in another jurisdiction and will be transferred to Baltimore County where he will be formally charged.
Another tip is to not trust your caller ID. Kwon’s phone said Bank of America, so she accepted the call. When in doubt, always hang up and call your bank directly.
Click here for more information on bank scams and report this scam to your bank, the Federal Trade Commission and the FBI’s Internet Crime Complaint Center.
