Ray Anholt, a resident of Victoria, recently turned 90 years old but found little joy in the occasion. He fell victim to a significant bank investigator scam, resulting in the loss of nearly $1.7 million over a six-month period. The elaborate scheme involved fake bank employees, forged official documents from government entities and politicians, bundles of cash, large bank drafts, gold bars, and couriers. Shockingly, despite warning signs, two major banks permitted the vulnerable senior to deplete his accounts, according to Anholt’s daughter, Jill Anholt.
The amount lost by Ray was part of a larger trend in Canada, with over $643 million lost to bank fraud last year, marking a nearly 300% increase since 2020. Experts note a lack of robust protections in Canadian financial institutions compared to other countries.
The scam unfolded when Ray received a call in June 2024 from a scammer posing as a CIBC fraud department employee, requesting his assistance in a supposed national money-laundering investigation. Ray was instructed to withdraw funds, with a promise that a courier would collect the money for safekeeping. Despite warnings not to disclose the situation to others, Ray complied due to his belief in authority figures.
At CIBC, Ray made multiple cash withdrawals, prompting some concern from branch staff but no definitive action to stop him. Eventually, CIBC allowed him to transfer his funds to another bank, even after being aware of the fraudulent activity. Similarly, at RBC, no questions were asked as Ray made substantial withdrawals for purchasing gold at the scammers’ behest.
When Ray ran out of money, a scammer posing as the Chief Justice of Canada demanded payment for a fictional tax debt before returning his funds. Ray, in distress, turned to his daughter for help, leading to the discovery of the scam. Despite efforts to address the issue with both banks, the matter was only partially resolved, with details remaining undisclosed.
The incident raises questions about the accountability of banks in preventing such fraud, as regulations require them to safeguard customers’ financial interests. The lack of proactive measures by the banks and financial monitoring agencies allowed the scam to persist. The government is urged to enact stronger laws to protect bank customers and hold financial institutions accountable for such incidents.
After reporting the fraud to the police, a sting operation was set up, resulting in the arrest of a courier involved in the scam. While the family doubts the recovery of the lost funds, they commend Ray for sharing his story to raise awareness and advocate for better protections for bank customers.
