Latest news with #RussellLeahy
Yahoo
12 hours ago
- Business
- Yahoo
Fort Worth teacher, 28, loses $32K after scammers tricked him into sharing his personal banking information
After spending years saving money in the hopes of starting a family, Russell Leahy and his wife are now forced to live paycheck to paycheck. Leahy, a 28-year-old teacher from Fort Worth, Texas, recently lost $32,000 to scammers who tricked him into revealing sensitive financial information. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it "It was my entire life savings," Leahy told WFAA. "I had literally never felt like the wind had been taken out of my sails before. I'd never really felt like I was going to pass out before, but it really felt like the end of the world for me." Leahy was reportedly contacted by scammers who claimed to be representatives of Chase Bank. The supposed bank reps called to inform Leahy that his account had been compromised and that he needed to protect his finances by moving the cash into a secure account. All it took were a few text messages and some counterfeit banking information in order to appear genuine. "I couldn't even believe how sophisticated it was," Leahy told WFAA. Now, the newlywed is trying to warn people about the scam that cost him everything in the hopes of preventing others from falling for the same scheme. Unfortunately for Leahy, the situation went from bad to worse when he contacted Chase Bank to report the incident. According to WFAA, the bank told Leahy that his account isn't covered by fraud protection, arguing that Leahy was the victim of a scam and not financial fraud. In making this distinction, Chase Bank returned just over $2,000 to Leahy's account, which is merely a fraction of his total loss. When WFAA contacted Chase Bank for comment, the bank offered clarification on the distinction between fraud and a scam. "Fraud on a bank account involves someone illegally accessing someone else's account and making withdrawals, transfers, or purchases without the account holder's permission," the bank stated in its emailed reply. A scam, on the other hand, is "a deceptive scheme or trick used to cheat someone out of their money or other valuable assets,' which is what happened to Leahy. Chase Bank's response likely isn't what Leahy wanted to hear, but that hasn't stopped him from sharing his story in order to prevent others from making the same mistakes. "I'd rather I be the sacrificial lamb for the rest of these people and maybe save other people's money from being stolen," he said. "I'm really hoping to look ahead and move on with my life and not have to start over from scratch." Read more: You don't have to be a millionaire to gain access to . In fact, you can get started with as little as $10 — here's how Unfortunately, Leahy's heartbreaking story is not unique. The "phishing" scam, which is what Leahy fell for, is one of the most common scams in today's digital world. Phishing works by tricking a victim into revealing sensitive information over the phone, by email or by text message. Email used to be the most popular method for conducting phishing scams, but scammers have since expanded their practice to include phone calls, texts and social media. Phishing conducted over the phone is also known as "vishing." While it's difficult to pinpoint just how many people are victimized by phishing scams every year, 323,972 internet users throughout the world reported to authorities that they had fallen for a phishing scam in 2021, according to AAG IT Services. To avoid falling for scams such as this, it's imperative for people to be informed and alert in order to spot potential threats. Here are some practical steps you can take to protect yourself from becoming a victim: Don't rely on your caller ID, as scammers may spoof the phone number of your bank or another institution that you're affiliated with in order to gain your trust. Never share your account information with anyone who may request it. Your bank will never call or email you asking for this information. Protect your accounts with multi-factor authentication. If a scammer were to gain access to your username and password, multi-factor authentication would make it tougher for the scammer to log into your account. Ignore transaction requests through calls, texts or emails that you didn't initiate yourself. When in doubt, call your bank — or whatever institution the potential scammers may claim to represent — directly in order to verify any concerns that were shared with you. This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. 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Daily Mail
19-06-2025
- Business
- Daily Mail
Hardworking teacher, 28, lived as recluse to build impressive nest egg...then scammers got him on the phone
A hardworking young teacher lived a reclusive life to build up his savings - but fell victim to evil phone scammers who stole it all with a few strokes of a keyboard. Russell Leahy, 28, practiced a frugal lifestyle by avoiding going out on the weekends and traveling, but his life came to a screeching halt when he realized he'd been a victim of a scam. Leahy, of Fort Worth in Texas, lost over $32,000 after he gave his bank account information to a fraudster who manipulated him into believing they were with Chase Bank's fraud department. The teacher said the scammers mastered Chase's protocol by playing the bank's recording at the start of the call that says, 'This call is being recorded for quality and training purposes.' The fraudsters quoted Leahy's exact bank balances and manipulated him into believing that his account had been compromised. Leahy believed that he needed to move his money into a new account to protect his savings, so he gave the information to protect the cash he had worked for. The scammers also sent him text messages and told him not to alert the tellers at his bank, as they were investigating a leak. Leahy hadn't thought anything of it because of the scammers' ability to mirror Chase's fraud process until he noticed his money was gone. 'I had literally never felt like the wind had been taken out of my sails before,' Leahy told local ABC affiliate, WFAA News. 'I'd never really felt like I was gonna pass out before, but it really felt like the end of the world for me.' Leahy said the experience was 'violating' and felt like he was 'being taken advantage of.' He filed a claim with Chase Bank, but only received $2,247.85. 'These types of scams are heartbreaking. We urge all consumers to ignore phone, text or internet requests for money or access to their computer or bank accounts,' a representative for Chase told 'Banks and legitimate companies won't make these requests, but scammers will.' Fraud differs from scams as fraud involves someone illegally gaining access to an account without the holder's permission. Scams, on the other hand, are 'a deceptive scheme or trick used to cheat someone out of their money or other valuable assets,' according to Chase. Scammers use manipulative information to deceive victims with non-existent products, phishing emails, fake websites, and spoofed Caller IDs. Leahy has started a fundraiser on GoFundMe to help alleviate the stress of living paycheck-to-paycheck while he fights Chase for his money. 'I've hired a lawyer. I've filed complaints with the CFPB, the Texas Attorney General, and the FTC,' he wrote in the description. 'I've done everything a person can do and I'm still left trying to survive on what little I have left.' Leahy said he filed a fraud claim with Chase, including a police report, screenshots of the texts and calls between the scammers, IRS documentation, and ATM receipts. He also claimed the bank sent a PSA email just days after he submitted a claim, describing the scam that he was a victim of. Despite the stresses he's endured, Leahy said he hopes the silver lining is that others learn from his story. 'I'd rather me be the sacrificial lamb for the rest of these people and maybe save other people's money from being stolen,' Leahy told WFAA. Chase advises customers not to answer calls or texts from a representative telling them to send money to another account. The bank never asks customers to send money to themselves. Customers who receive similar calls should hang up and call the number on the back of their Chase card.
