The envelope looked harmless. I recognized the colorful logo in the return address but wondered why the agency that managed my deceased husband’s retirement account would be contacting me. Peter had passed away three and a half years prior and the only previous communication from the agency had been the regular monthly deposits to my checking account, deposits that had been made for years.

Could there be a problem?

I skimmed the letter which, at first glance, requested information about my mailing address. Rather than answer the request electronically, I decided to take the second option offered. I called the 800 number and spoke to “John,” who explained the reason I was contacted. Supposedly, there was a concern that all of the payments to my account had been sent with the assumption that Peter was still alive, not deceased. So, when the initial query letter they sent was returned, but the money was deposited, the “agency” began to do some checking and located my current address.

John’s explanation was that, since the money was sent to a deceased person, the money had to be returned so they could adjust the account information. That could be done by sending them a completed EFT (Electronic Funds Transfer) form, copy of Peter’s death certificate, and other information. “After our bookkeeping department makes the correction, we will return the money to your account, ma’am.”

(EDITOR’S NOTE: This is a common tactic that foreign scammers use. They convince you to send money, saying they’ll send it right back to you. That makes no sense whatsoever but you’d be shocked at the number of people who fall for it.)

Red flag #1. How did the agency know that Peter was deceased?

Red flag #2. Why would they assume I’d let someone remove funds from my account?

As it turned out, the request to confirm my mailing address was a foot-in-the-door. The real purpose of the letter was to access my checking account. The fact that much of the data in the letter, and what “John” shared with me, was accurate, still concerned me since they were acting as though Peter was deceased, a fact that I had not revealed. They had his retirement account number, the amount of money that had been sent to my account, from the time my husband died to the last payment I received in November, and other pertinent information. What they did not share was information that I had in my files. It was a joint account, with funds going to the survivor. There should be no need for the account to be adjusted.

That was red flag #3…and the red flags continued to wave in my mind!

I told John I didn’t have enough money in my checking account to repay them and that I needed time to deposit additional money. I’ve had more than 150 hours of mediation training and have been the CEO of my own business for more than a quarter of a century. Collecting information before making a decision has been my MO, especially during my professional career. That approach was obviously needed in this case.

“John, I’ll make financial arrangements over the weekend and get back to you the first of the week.” After putting me on hold for a few minutes, he agreed, and I hung up.

A quick but detailed message to my three adult children was my next step. Within minutes, one of my daughters sent a text message. “Mama, this sounds like a scam. Don’t sent any money.”  The next message was from my son with his reaction to what I had sent. He included the number of a legal aid agency in my state, along with his advice not to answer any calls from the scammers and to hang up immediately if I did answer the phone accidentally. Daughter number two was also concerned about a possible scam.

The conversation with John was on a Friday. My detective work started immediately and continued over the weekend.

Red flag #4. I reviewed my file with the details of my husband’s retirement account and noticed that the return address on the current letter I had received was from a different city than the information I had on file.

On Monday I took the letter to my bank and explained my concerns, including my conversation with “John,” and a review of the four red flag situations. The two bankers I worked with also felt this was probably a scam. After reviewing my account, which fortunately was intact, they advised me to do nothing further. I breathed a sigh of relief and went home, assuming the situation was resolved.

I was not worried because bank personnel assured me that my account had not been hacked.

However, when I opened my computer the morning after my bank visit, I was shocked! There were six alert messages from my bank. Approximately $7,000 had been removed from my checking account, and a few of the alert messages indicated that only a minimal balance was left.  But…the final alert message was a God-send. The $7,000 had been returned to my account immediately since there were “insufficient funds” to cover what the scammers had removed. More detective work! More gathering of information! Plans for another trip to the bank!

The next morning, bulging file folder in hand, I went to the bank with a request for help. The bankers and I had a lengthy discussion, and we decided on the following remedies.

(1) Lock the current checking account so that only deposits could be made. NO withdrawals would be possible.

(2) Create a new checking account.

(3) Transfer funds from the original account, leaving a zero balance in it.

(4) Leave the original account open temporarily, but locked, so that regular deposits could be made.

(5) As soon as possible, arrange for all on-going monthly payments and regular deposits to be paid through the new account.

(6) Contact the company my husband had worked for to determine if other retirees had a similar problem. Determine how to arrange for the monthly retirement funds to be deposited into a savings account, not a checking account. The secretary took my information, I sent a text photo of the letter, and she said she would contact me after the Thanksgiving holiday.

Another sigh of relief and a trip home to complete the detailed work regarding the new account.

“No rest for the weary!”

The following week, three more letters with the colorful logo appeared in my mailbox. The first one that I opened stated that, under my husband’s retirement contract, no funds were to be paid because Peter was deceased. Another letter requested that I repay the agency for the “overpayment.”  Red flags again. The comments in the letter were in direct contrast to the phone conversation I had with “John,” and with the retirement information I had in my files.

After more than two weeks of this, my normal, calm demeanor was rapidly morphing into that of anger and frustration. Resolving not to let this situation control my life, I checked with the post office. One option is to put a “return to sender” notation on the outside of the unopened envelope and any future, unwanted correspondence from the scammers. Other forms of communication that I can control are the monitoring of all incoming phone calls, answering only those whose numbers are familiar. Unknown email and text numbers will be deleted and blocked. And most importantly, staying in touch with my bank. If all else fails, I plan to check with an attorney friend and with the legal aid agency that my son recommended.

My plan? To keep my money and my sanity, and to scam the scammers!

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Anonymous has been the CEO of a small consulting company for more than a quarter of a century, and is a mediator with 150 hours of training. She has held leadership positions locally, nationally, and internationally. So, when she began receiving unsolicited and conflicting information about her deceased husband’s retirement account, she became concerned. Her business experience held her in good stead as she navigated a new-to-her situation, and relied upon bank personnel and others with a legal background. She learned to trust not only her practical knowledge but also her instincts during what was a harrowing experience. Teamwork with professionals overcame what could have been a financial loss.

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