Police issue scam alert that cost resident $20,000

Police are warning about a scam that caused a Hendricks County resident to fall victim to a sophisticated fraud scheme that resulted in a substantial financial loss. 
Danville Police report that the scam began with a phishing email claiming that a fraudulent $687.99 charge had been made through the victim’s PayPal account. The scammer, posing as a PayPal representative, convinced the victim to follow their instructions to recover the funds. The victim was tricked into transferring $20,000 from her home equity line of credit to the scammer via a Bitcoin ATM before realizing it was a scam.
To help prevent these types of scams, the Danville Metropolitan Police Department urges residents to follow these safety tips:
Verify the Source: Always independently verify any email or call claiming to be from a financial institution. Contact the company directly using a verified phone number, not the number provided by the caller.
Avoid Unusual Payment Methods: No legitimate company will ask you to transfer funds via Bitcoin or gift cards. Be cautious if asked to use these methods of payment.
Monitor Your Accounts: Regularly check your financial accounts for suspicious activity and immediately report any discrepancies.
Never Share Personal Information: Be careful with personal details, account information, or passwords, especially over the phone or through email.
The Danville Police Department takes these incidents seriously and continues to work with federal authorities to combat electronic fraud. If you believe you have been a victim of a scam, report it to the FBI’s Internet Crime Complaint Center and contact your financial institution immediately.

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