Smithfield Couple Loses Thousands In Fraud Scam

SMITHFIELD — A Smithfield couple in their early 70s was targeted in an elaborate fraud scheme in late December after scammers posing as bank and law enforcement officials convinced them they were helping protect their finances.

The 72- and 74-year-olds received a Dec. 20 phone call from someone claiming to represent the fraud departments of Wells Fargo and the Federal Bureau of Investigation. During the call, they spoke with several individuals who told them their help was needed to investigate alleged fraudulent activity by a bank employee.

Believing the story, the couple stayed on the phone while withdrawing $40,000 from their Wells Fargo branch in Smithfield. They were then directed to a Walmart in Raleigh, where they gave the cash to a man in the parking lot who was wearing a mask and what appeared to be an FBI badge.

The scheme continued with instructions to withdraw additional funds from other Wells Fargo locations and mail the cash through the U.S. Postal Service and UPS. By the time the fraud was uncovered, the couple had lost $62,477.

The victims told investigators their bank account had been compromised several weeks earlier, making the scam seem more legitimate.

The Johnston County Sheriff’s Office is investigating the case. No arrests have been announced.

Elder fraud remains a serious problem. Scammers frequently impersonate financial institutions and government agencies to pressure older adults into turning over money or access to accounts. North Carolina ranked 12th among states in reported financial losses to fraud by adults over age 60 in 2024, with seniors across the state losing nearly $77.4 million, according to FBI Internet Crime Complaint Center data.

Nationwide, older Americans reported more than $3.4 billion in losses to scams in 2023. Complaints from adults age 60 and older rose by about 14%, with average losses nearing $34,000 per victim. Impersonation scams targeting seniors have increased more than fourfold since 2020, according to the Federal Trade Commission.