Nearly 100 Ontarians fall victim to ‘bank investigator scam’ as police across the GTA issue warnings

More than 90 victims fall for ‘bank investigator scam’ as Durham and Halton Police Services issue warning.

A scam involving alleged “bank investigators” continues to cause major problems for people within the Greater Toronto and Halton area, and more victims have come forward to say they’ve lost tens of thousands of dollars.

Last month, Durham Regional Police Service (DRPS) issued a warning after 41 people were defrauded by the scam.

Halton Regional Police Services (HRPS) issued a similar warning in September as well, after 53 others were impacted since the start of 2025.

Some victims told CTV News Toronto that the scammers arrived at their homes to pick up bank and credit cards, after initially calling them and giving the victims details like their names, addresses, phone numbers, and in some cases bank accounts, making things seem legitimate.

“They said there are some fraud charges on my card, and they want to verify whether this was true or not,” Kimberly Liew, of Toronto, told CTV News.

It was in August when Liew said she got a call from an individual claiming to be from her bank. The person said her accounts were in jeopardy and the phone number appeared to show they were phoning from TD.

The caller also knew a lot of her information including recent transactions and people on her e-transfer list.

“So I thought, this seems very legit... only a TD employee would have this kind of information, right?,” said Liew.

Liew was then told her bank cards had been used in a skimmer and the bank needed to cancel and replace them. Someone came to her home to pick them up and retrieve them.

“I gave my physical cards to the courier, and they drove off,” Liew said.

As soon as they had her cards, she said the scammers started to empty her accounts of $32,000.

“I literally went to my dad,” she said. “I was crying. I called TD right away to say this is what’s happening.”

Meable Perez Ramirez of Oshawa also told CTV News Toronto she received a phone call saying her accounts were at risk and her cards needed to be replaced. Similarly to Liew, a courier picked up her bank cards and she ended up being scammed out of $20,000.

“Looking back, I don’t know if I would have done anything differently just because of how convincing it was,” said Perez Ramirez.

Perez Ramirez said she was shocked her account could be emptied without intervention by Scotiabank.

“How can such a large sum of money be taken out of my account in one to two days and they (Scotiabank) weren’t flagged about it?”

When CTV News reached out to Scotiabank about bank investor scams for a previous report, a spokesperson said in a statement, “Scotiabank cannot comment on any individual client matters for privacy reasons. We take cases of fraud seriously and continue to educate clients to never share passwords, PINs or account access with any individual, including family or friends.”

“The bank will never send a courier to clients’ homes to pick up debit or credit cards. Clients are encouraged to always practice safe banking habits while doing their part to help recognize, reject, and report fraud.”

CTV News also reached out TD Bank on Liew’s behalf and a spokesperson said in a statement, “We’re sorry to hear about Ms. Liew’s situation and understand it can be distressing to be the victim of fraud.”

“TD would never call customers directly and ask for personal information, or request that you make any financial transaction to help with an investigation. If you get a call from someone claiming to be with your bank’s fraud department, hang up and call the phone number on the back of your debit card – it’s best to use a different phone line, if you can.”

“In addition, don’t open links from e-mail addresses and phone numbers you don’t recognize. When completing a transaction, it’s important to always be honest with branch staff as they’re the first line of defence in helping to protect your money. In addition, your bank would never instruct you to lie or keep a secret. If a customer believes they’ve fallen victim to a scam or fraud, they should report it immediately to their financial institution, the police, and the Canadian Anti-Fraud Centre.”

Liew said it’s been especially difficult because as well as being a long term TD Bank customer, she also had three family members who worked for TD.

“My whole family has been with TD Bank. My sister was employed there, my brother was employed there, and my dad just retired from TD Bank. So, this entire situation has been difficult for my family,” Liew explained.

To avoid falling victim to the ‘bank investigator’ scam, it’s recommended to never give your bank information or card PIN to anyone, never hand over your bank or credit cards, and if a caller claims to be from your bank, hang up and call the number on back of your card to verify their claims instead.

TD and Scotiabank did not reverse the fraud charges for Liew or Perez Ramirez. Both victims say banks need to do more to protect their clients.

“There needs to be more pressure put on banks for their role in this,” said Perez Ramirez.

“I was hoping to get a house in the next few years but with credit card debt of that much - it’s a lot of money,” added Liew.