TIMONIUM, Md. — A small business owner is recovering after losing more than $50,000 in a bank imposter scam.
It's taken months, but Hyeon-Jin Kwon is on track to get back most of her money, and police say they've arrested the man who stole from her.
This multi-layered fraud scheme happened in September. And it began when someone walked into her Greenspring office while she was with a client, and rifled through her wallet.
“They managed to take a couple credit cards, debit cards, but not my whole purse [then] ran up about $2,300 between Walgreens and Walmart that day,” Kwon told WMAR-2 News Mallory Sofastaii in November.
READ MORE: Small business owner fighting to get back $50,000 after being targeted by bank imposter
Kwon's credit card companies flagged the transactions as fraudulent and returned her funds, but two days later, she got a call from someone claiming to be with Bank of America. They confirmed all of her information and said they needed her authorization to stop a wire transfer
“They gave me a link to click through, which I entered in my information, and through that, she was able to access my bank account and take control. And she managed to wire out almost my entire checking account,” Kwon said.
Around $56,000 was drained from Kwon's account and sent to a Chase account.
"The thief was able to take out $13,000 that morning through ATMs and tellers,” Kwon added.
Immediately, these transactions were flagged by Chase triggering the bank to freeze the account along with Kwon’s remaining funds.
“Luckily, I was able to recover the frozen funds that were in the Chase account,” Kwon recently told Sofastaii.
However, she had to wait until December 12 for the funds to be returned to her account. Kwon also received a response to her fraud claim for the money withdrawn at the ATM in Florida.
“Bank of America has now denied me for the fourth, and I believe the final time, and they will not make me whole with the $13,500,” said Kwon.
She was able to file an insurance claim for up to $10,000, but the remaining $3,500 may be a loss.
In addition, Kwon filed a police report immediately after the theft happened in September, but several weeks later, she still hadn't heard anything from the Baltimore County Police Department. WMAR-2 News reached out to police on November 25. The next day, Kwon was contacted by a detective.
“We had a whole big file ready to go, so it was pictures, dates, timelines, everything that he needed, bank statements,” said Kwon, who meticulously compiled evidence and witness statements for police detectives. Her investigation included video surveillance from her office complex of the man she believes stole her credit cards from her office.
Two weeks after hearing from police, she received another update.
“And they were able to locate the thief who had been arrested in Fairfax County, Virginia a couple weeks prior, and he was doing the same thing,” said Kwon.
According to the police incident report, this individual has "an extensive criminal history in Maryland and Virginia of the same Modus Operandi of stealing credit cards from commercial businesses offices and subsequently using them at retailers.”
“So, all valuables are now locked up. I've added a Ring camera to the front, so at least we can monitor at any time anybody coming in and out. And I think, you know, we always keep doors locked, especially in the evening,” said Kwon.
She warns others to take the same precautions and to hold back when speaking with a bank representative.
“Please, just hang up the phone. I think the best way to protect yourself is just to call the number directly, just to make sure, you know, you're talking to somebody from that company. And again, if there's any sense of fear or just feeling hurried, I think that is a huge red flag,” Kwon recommended.
Baltimore County Police have not said whether the theft was tied to the bank fraud. They also haven't released the suspect's identity. As of Wednesday, he's been arrested in another jurisdiction and will be transferred to Baltimore County where he will be formally charged.
Another tip is to not trust your caller ID. Kwon’s phone said Bank of America, which is why she took the call. When in doubt, always hang up and call your bank directly.
Click here for more information on bank imposter scams and report this fraud to your bank, the Federal Trade Commission, and FBI Internet Crime Complaint Center.