A South Florida man says he lost more than £200,000 ($250,000) in his life savings after a fraudster posing as a Wells Fargo employee persuaded him to empty his accounts and hand over bundles of cash to a waiting courier. Business owner Randall Kahn alleges the caller used fake staff credentials, incident numbers and urgent warnings about 'compromised' accounts to push him into a week-long series of withdrawals that wiped him out.
The case is part of a sharp rise in sophisticated impersonation scams across the United States. Federal Trade Commission figures show imposter frauds generated more than one million reports in 2025 alone, with reported losses approaching £2.8 billion ($3.5 billion).
