Title: $38,000 Bank Fraud: Bermudian Resident Appeals to FBI for Help

Overview

• A Bermudian resident, Raj Hegde, lost $38,490.61 from his HSBC account in Bermuda due to fraudulent activity.
• The funds were transferred to a US bank, potentially giving the FBI jurisdiction in the matter.

Incident Details

• Mr. Hegde was targeted through a text message that appeared to be from his mobile service provider, One Communications.
• The text urged him to update his details on a provided link, which led to the fraudulent withdrawal of funds from two of his HSBC Bermuda accounts.

Impact and Consequences

• Mr. Hegde lost a total of $38,490.61, incurring an additional $30 in commissions on the wire transfers.
• The missing funds, which were initially said to be in the process of return by HSBC Bermuda, had “disappeared” from a Phoenix, Arizona branch of Wells Fargo.

Efforts to Resolve the Issue

• Mr. Hegde reached out to Wells Fargo but was unable to make contact with anyone responsible in the bank for assistance.
• With limited support from the banking sector, he sought help from the FBI due to the US-based involvement.

FBI’s Role and Jurisdiction

• The FBI investigates federal crimes, cybercrimes, and crimes involving federally-chartered banks and cross-border cases.
• They recorded phishing as the top cybercrime complaint in their 2022 Internet Crime Report.

Prevalence of Financial Scams in Bermuda

• Bermuda residents endured almost $4 million in financial scams in 2021.
• Hundreds of such cases have taken place in Bermuda during the current year.

Reporting Suspected Fraud Cases

• Those who suspect they have been victims of a fraud scheme should report it to the police.
• Suspected fraud instances can be reported to the police by calling 211 or e-mailing 211@bps.bm.