For as many years as the "Bank Examiner" con has been around, you would think that everyone must have heard of this, and no one would fall victim to it. But apparently not everyone is familiar with this swindle, as evidenced by the fact that law enforcement agencies across the country occasionally get reports from people who have been victimized by this classic con.

Here's how it works. You get a call at home from an official sounding man (or woman.) This person claims to be a police officer, FBI agent or bank examiner. He tells you a very convincing tale about suspected theft or embezzlement at your bank. He says he needs your help in catching an employee who is suspected of stealing from the bank.

He asks you to withdraw a large amount of cash (sometimes thousands of dollars.) He then offers to meet you at your home, or at another location, where he wants you to turn the money over to him, so he can record the serial numbers, so they can catch this thief. Of course, you will get the money back tomorrow. He shows you a badge, and writes you out a receipt. And guess what? Tomorrow comes, the guy never returns your money, and when you call your bank they have no idea what you are talking about. The "bank examiner" is gone and so is your money.

Con artists may be especially apt to prey on senior citizens with this con, because most seniors grew up during a time when you could take people for their word, they have a strong sense of civic pride and want to help catch a thief, and they may be more likely to have money in the bank due to retirement, insurance or inheritance.

Neither law enforcement, nor your bank, will ever use private citizens to investigate suspected embezzlement. If you ever get a call from someone who claims to be a police officer, or bank official, wanting you to withdraw funds, call your local law enforcement agency immediately.

In an effort to stop these con games, more and more banks are training their tellers to question their customers who come in and withdraw large or unusual amounts of money. Of course it's your money, and it might not be any of the bank's business why you are withdrawing it, but remember the teller is not being nosy when she asks you these questions. She is only trying to help make sure a con artist isn't ripping you off.

The article What is the Bank Examiner Con? was Submitted by Mark Buschena through Articles.GetACoder.com network. Here's the additional information: Sgt. Mark Buschena is a vteran police officer with 29 years xperience. He is the author of "Th Naked Truth About Personal Protection!" How to prtect your life, family and property. Smple ways to protect yourself from theves, muggers, rapists, robbers, burglars, con-artists, pck-pockets and other scum-of-the-earth! Get your cpy at http://www.defendyourselfnow.com