Politics & Government » Law & Ethics » How Does the "Bank Examiner Swindle" Even Make Sense?

How Does the "Bank Examiner Swindle" Even Make Sense?

In the 1960's, there was a Dragnet episode, and in the 1970's, I remember AARP articles, warning people about the "bank examiner" swindle. A glib-talking con artist, posing as a bank examiner, would approach an elderly person and tell him they were investigating a bank teller who was suspected of pilfering the accounts. The bank examiner needed the old person to withdraw money, so they could mark it, and then deposit it into the bank, so they could monitor the activities of the suspected teller.

How does this even make sense? The only way it could is if the bank kept each customer's money in a separate shoe box. If the teller is stealing the bank's money, they do not need anyone to withdraw money and then redeposit it. Are people so stupid as to fall for such a transparent hoax?

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