FBI Investigates $38,000 Bank Scam Involving HSBC in Bermuda

Victim Turns to FBI as Stolen Funds Reach US Banks

The Royal Gazette, August 11, 2023

A local Bermuda resident has reported a bank scam worth $38,000 to the Federal Bureau of Investigation (FBI) after noticing missing funds from his HSBC account. The FBI’s involvement in the case comes from the fact that the fraudulently acquired funds have reached US banks.

Details of the Incident

Unnoticed Scam: The victim became aware of the issue when reviewing their account, revealing the initial unnoticed scam transactions.
Transactions Traced: The victim traced the transactions to a US bank.
Increase in Cybercrime: This case comes as cybercrime concerns rise in Bermuda, as reports of online banking and debit card scams become more frequent.

Authorities’ Response

FBI’s Investigation: A spokesperson for the FBI confirmed the investigation into the incident.
HSBC Bermuda’s Warning: HSBC Bermuda acknowledged the incident and warned customers about potential fraudsters and cybercriminals.
BPS’s Urging Caution: The Bermuda Police Service (BPS) urges the public to remain cautious during online transactions and regularly monitor their bank accounts for unauthorized activity.

Security Recommendations

Enable Two-Factor Authentication: The BPS suggests enabling two-factor authentication for an added layer of security.
Stay Informed: Experts recommend staying informed about the latest cybercrime tactics.
Implement Security Measures: Antivirus software, strong passwords, and regularly updated systems are security measures that can help protect users from falling victim to similar scams.

Developing Story

Stay tuned to The Royal Gazette for updates on this unfolding situation.