Wednesday, 12 April 2023 09:20

Senior Citizens Targeted in Cryptocurrency Scams Featured

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Older Ohioans are being targeted by scammers asking for payments in cryptocurrency.

That's the word from the Ohio Narcotics Intelligence Center, and the Ohio Department of Aging, which are putting out a warning about swindles including "Romance scams", where the target gets drawn in by a fake lover online, who then requests a loan or financial help.

Of course, that kind of scam is pretty well known. But the new twist, is that now they're asking for payments through cryptocurrency, or through cryptocurrency automated teller machines (ATMS). Other old frauds using the new tech include the "Grandparent" scam, where the criminals pretend to be a grandchild of the target, tells them they're in trouble, and that they need money immediately.

Here is some information you may find useful, from the Federal Trade Commission (FTC).

Cryptocurrency Scam Indicators:

  •  No legitimate business is going to demand you send cryptocurrency in advance of a purchase or to protect your money. If the individual does, this could be an indicator of a scam.
  •  If you meet someone on a dating site or app and they want to show you how to invest in cryptocurrency or asks you to send them cryptocurrency, this could be an indicator of a scam.

Prevention Tips:

  • Before you invest in cryptocurrency, search online for the name of the company or person and cryptocurrency name and also include words like “review,” “scam,” or “complaint” to see what others are saying.
  • No legitimate business or government will ever email, text, or message you on social media to ask for money, and they will never demand that you buy or pay with cryptocurrency.
  • Never click on a link from an unexpected text, email, or social media message, even if it seems to come from a company you know.

“Despite the fact that older adults are more likely to report suspected fraud than younger adults, scammers are finding new and sophisticated ways to deceive people, like these emerging cryptocurrency scams,” said Ohio Department of Aging Director Ursel J. McElroy. “I encourage older Ohioans and their loved ones to make it a point to stay up to date as these threats evolve; learn about the latest types of scams, share that knowledge with friends and family, and always check financial statements to make sure there are no unauthorized charges.”


Read 1915 times Last modified on Wednesday, 12 April 2023 09:37