Title: Bermudian Resident Seeks FBI Intervention After Falling Victim to $38,000 Bank Fraud

Bermudian Resident’s Ordeal with a U.S. Bank Fraud

A Bermudian resident and sub-editor at The Royal Gazette, Raj Hegde, has sought help from the Federal Bureau of Investigation (FBI) after losing $38,000 to a sophisticated bank fraud originating from the U.S.

The Scam

In June 2023, Hegde received a fraudulent text message from his mobile service provider, One Communications. The message, disguised as a request to update account details to prevent service suspension, led Hegde to a phishing website. Unknowingly, he entered his banking credentials, allowing scammers to drain two of his HSBC accounts in Bermuda.

Unsatisfactory Response from HSBC

Since reporting the fraud to HSBC Bermuda on June 16, Hegde claims the bank has failed to provide satisfactory explanations and has not been able to recover the stolen funds. Initially, HSBC assured Hegde that the money was being returned to his accounts. However, the funds “disappeared” with no further explanation.

Unsuccessful Attempts to Recover Funds with Wells Fargo

Feeling frustrated by the lack of progress from HSBC, Hegde reached out to Wells Fargo, the fourth-largest bank in the U.S., for assistance in recovering the stolen funds. His efforts have been unsuccessful, leaving him in a state of limbo.

The FBI’s Jurisdiction

With the stolen funds having entered the U.S. financial system, Hegde believes the FBI may have jurisdiction in the matter. He has submitted a report to the FBI’s Internet Crime Complaint Center (IC3), detailing the scam and asking for their intervention.

The Prevalence of Cybercrime

The IC3 received over 701,000 complaints related to cybercrime in 2022, with phishing being the most common complaint. The scam that targeted Hegde mimicked a message from OneComm, asking users to update their details to prevent service suspension. Unsuspecting victims who clicked the provided link were taken to a phishing site where they were asked to enter their banking credentials, revealing sensitive information to the scammers.

The Impact of Cybercrime in Bermuda

Despite the recent theft, the Bermuda Police Service reported that residents lost close to $4 million to online scams in 2021. With hundreds of cases already reported in 2023, it is crucial that residents remain vigilant against such scams.

HSBC’s Response to the Case

When contacted for comment, HSBC Bermuda declined to provide any information regarding the case due to confidentiality concerns.

Resources for Victims of Fraud

Victims of fraud are encouraged to report suspected scams to their local law enforcement and the Bermuda Police Service.