Renato Calalang, a 60-year-old Melbourne resident, fell prey to a well-known scam defrauding millions of innocent victims. Calalang, who had saved nearly $150,000, was shocked to receive an email from someone posing as the owner of a bank in his native Philippines.
An Inheritance Email Scam
The bank representative, claiming to be Steve Golds, informed Calalang that a cousin had passed away, leaving him a three million eight hundred thousand euros inheritance. People globally are advised to be cautious of such emails, particularly when they promise large sums of money. Still, Calalang believed the email's legitimacy since he had a cousin named the same as the one mentioned in the email.
Golds instructed Calalang to provide personal details like his name, address, occupation, and age to claim the millions of Euros and open a bank account in the Philippines. However, he had to first deposit funds into a Commonwealth Bank (CBA) account, from which the money would be transferred overseas.
Victim Relying on His Tenureship with CBA Bank
This reassured him further because he had been banking with CBA for many years. He felt secure, believing that if anything went wrong, he could rely on Commonwealth Bank for assistance, he told news.com.au.
Over several months, Calalang was repeatedly asked to deposit money, with promises that it would bring him closer to receiving his inheritance. He even spoke to a persuasive representative from the Filipino bank, who assured him his actions were fine.
CBA Telling The Victim that He Was Scammed
He followed each time with the deposits until his entire retirement savings were depleted. When he eventually realized something was amiss, he contacted CBA and Scamwatch. Unfortunately, there was little that could be done to help him.
The 60-year-old shared his devastation, recounting how he sought help from the Commonwealth Bank in September 2023 and explained the situation. After a two-month investigation, he was informed that he had fallen victim to a scam, which they could not retrieve because the overseas bank refused to cooperate.
Nothing Left
While he acknowledged his responsibility for sending the money, he was taken aback by the fact that CBA did not detect the suspicious deposits. The scam has deeply affected him, disrupting his retirement plans and severely impacting his self-esteem. He continues to struggle emotionally, feeling sick just by thinking about the deception.
The bank stated that Mr. Calalang made several transfers to various banks over two months in response to the scammer's promise of a significant inheritance. When Mr. Calalang informed CBA about the transfers, the bank promptly tried to recover the funds but could not.
CBA also emphasized the importance of vigilance when transferring money, advising people to "Stop. Check. Reject." before making payments. They suggested consulting with a trusted family member or friend before sending money to an unfamiliar recipient, especially if it involves promising a large sum in return. Additionally, individuals were urged to contact their bank immediately if they suspect they have been scammed or notice any unusual transactions.
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