Latest Digital Scams in Iowa, Illinois, & Wisconsin Target Elderly & Lonely

The Tri-State area of Iowa, Illinois, and Wisconsin has seen an increase in internet-based scams recently. According to Dubuque police, victims are targeted through Bitcoin ATMs and fake tech support pop-ups. In fact, these scams are beginning to gather steam across the United States. Understanding these scams and knowing how to protect yourself can help keep your finances and personal information secure.

The Bitcoin ATM Scam

One recent scam (and becoming more common) involves Bitcoin ATMs. Here's how it works: scammers build a relationship with the victim, often through online dating or social media. They then convince the victim to transfer money to a Bitcoin wallet via a QR code, which the scammer then withdraws using a Bitcoin ATM. The scammers use various excuses, like emergencies, investment opportunities, kids or grandkids pulled over for a DUI, you name it. Anything to justify the request for funds. Unfortunately, once the cryptocurrency is transferred, it's almost impossible to recover.

Often they prey on their victims' emotions and try to rush individuals into quick decisions. Other long-running scams involve online "relationships," often leading to the scammer getting their victim to lie about what they are doing with their money to banks and family members alike. In some cases, millions of dollars can be lost, with no return or insurance coverage insight. The Federal Trade Commission reported in 2022 that since 2021 more than 46,000 people reported losing over $1 billion in crypto scams.

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The Tech Support Pop-Up Scam

In another prevalent scam, victims receive a pop-up message on their computer screen, claiming their device is infected or compromised. The message urges them to call a provided phone number for "tech support," which is actually a scammer's line. The scammers then instruct the victim to withdraw cash and hand it over to a supposed "representative" who promises to secure the funds. These scammers might even instruct the victim not to contact their bank, claiming that financial institutions are "in on the scam." Additionally, once scammers have gained access to your computer, additional issues may arise like random charges, syphoned funds, stolen social media and personal accounts, and stolen credit card information.

Who's Most Vulnerable in the Tri-States?

While anyone can fall victim to scams, they often target specific demographics:

• Older Adults/Elderly: They may be less familiar with technology and more trusting of authority figures.
• New Internet Users: Young or naive; those less experienced with online interactions might not recognize the warning signs.
• Individuals Seeking Relationships: Scammers exploit those looking for companionship or romantic connections online.

How to Protect Yourself from Scammers

• Verify Before You Trust: Never transfer money or share personal information with someone you haven't met in person. Be skeptical of anyone asking for cryptocurrency payments. Talk to your family or those in your trust circle before proceeding.
• Hang Up and Verify: If you receive a call or pop-up about a supposed security issue, do not engage. Instead, independently verify the information by contacting the company directly using a number you know is legitimate.
• Don't Rush: Scammers often create a sense of urgency to prompt quick decisions. Take your time, and consult with a trusted friend or family member if something feels off.
• Secure Your Accounts: Regularly update your passwords and use two-factor authentication when available. This can help prevent unauthorized access to your accounts.
• Report Scams: If you encounter a scam, report it to the Federal Trade Commission (FTC) at reportfraud.ftc.gov. Your report can help prevent others from falling victim.

These scams are increasingly sophisticated, but with awareness, caution, and a little common sense, you can protect yourself and your loved ones from becoming victims. Stay informed and vigilant, and don't hesitate to seek advice if something doesn't feel right.