Police warn of losses up to $40K in elaborate bank

Woodstock police are cautioning the public about an “alarming” rise in an elaborate scam relating to bank cards.

On Tuesday, Woodstock police posted an alert on social media stating that in recent days multiple residents, including seniors, have lost tens of thousands of dollars to fraudsters.

Woodstock police said victims receive a phone call from someone claiming to be an employee with their bank, adding that often the caller identification will show the real bank’s number.

Victims are told their bank card has been compromised and are instructed by the scammer to cut up their cards, but leave the chip or tap area intact, then place them in an envelope and hand them to a courier or leave the cut-up cards for collection, police said.

After fraudsters have the card and chip, the scammer