Zelle Scam Threatens Baker’s Dream Business, Part 1

The Perfect Scam

AARP

True Crime, Aarp, Fraud, Society & Culture, Scam, Crime, Bobsullivan

4.5 • 980 Ratings

🗓️ 1 July 2022

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

After many years in the corporate world, Lura decides to turn her passion for baking into a small business. She secures a loan, perfects her recipes and then, the day after her big launch, her bank calls. They tell her she’s been hacked and helpfully walk her through the steps to recover the funds. When she calls back the bank, though, she’s stunned to learn that it wasn’t her bank who called at all, but an impersonator. Her money is gone. Will her dreams of owning her own business also disappear?

Transcript

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0:00.0	This week on The Perfect Scam.
0:03.0	They're saying that they are stopping the sale transactions.
0:06.4	They give me a claim number, and so I think tragedy averted.
0:12.4	I start getting these alerts from my email
0:18.1	saying that I sent money to somebody at Chase. I'm like what? And so I go into that email and quickly
0:26.8	try to grab the money to take it back and it's already gone. Welcome back to the perfect scam. I'm your host Bob Sullivan.
0:38.0	New person-to-person payment apps, P-P-the-P apps, like Venmo and Zell, make it easy for family and friends to
0:46.2	pay each other in I owe you after splitting lunch. Easy to send a kid at college enough money for
0:51.7	a special weekend meal.
0:54.0	Consumers really like P2P apps, but so to criminals.
0:59.6	Because the transfers are nearly instant
1:01.9	and there are no credit card-like consumer
1:03.9	protections enforced on P-to-P. Crooks can really take advantage of the system.
1:08.7	According to the New York Times, nearly 18 million Americans have been victims of P-to-P fraud.
1:15.8	Today, we're going to meet one of them.
1:20.1	Laura Daniels Ball had recently said goodbye to her husband of nearly 40 years when her family urged her to find something new and positive to focus on.
1:29.0	So she set out to pursue a long delayed dream.
1:33.0	Laura is an amazing baker.
1:35.0	She makes sweets for everyone in her life, in her family, in her church.
1:39.0	She's always called at her baking ministry.
1:43.6	So after a full life as a professional, a singer, a mom, she set out on her second act and
1:49.5	decided to open her own cookie business.
	...

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