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FCC warns of 50-state scam by fraudsters posing as mortgage lenders
The Federal Communications Commission has issued a warning to consumers across the country about a sophisticated nationwide scam in which fraudsters pose as mortgage lenders and defraud victims out of hundreds of thousands of dollars.
In a consumer alert, the FCC revealed that scammers are using “sophisticated social engineering techniques” to target vulnerable homeowners experiencing financial hardship. These operatives call unsuspecting individuals, often using detailed personal information about them, including their name, address, and previous or current mortgage lending institution.
The fraudsters, who have been dubbed the “Green Mirage,” go so far as to spoof the caller ID number of the victim’s actual lender, further convincing the homeowner that the call is legitimate. They then threaten foreclosure and offer relief if payments are made via unusual methods, such as mailing money orders to third-party attorneys or representatives, or uploading funds to a Walmart Green Dot Money Card account.
According to the FCC, these scammers have impersonated over 400 mortgage institutions, causing hundreds of thousands of dollars in losses to unsuspecting victims. In many cases, homeowners only learn of the fraud when their actual lender starts foreclosure proceedings.
The FCC urges consumers to be vigilant and aware of the warning signs of this scam. If you are pressured to provide money or information, asked for payments through unusual methods, or offered a deal that sounds too good to be true, it is likely a scam.
To avoid falling victim to this scam, officials recommend taking a few simple steps.
Source: www.cbsnews.com
