Oklahoma legislation would help victims of scammers
Imagine an Oklahoma grandmother, savings in hand, rushing to a corner store's cryptocurrency ATM because a voice on the phone claims her grandson is in jail. She feeds $5,000 into the machine, believing she's saving him. Instead, she has just been robbed ― her money zapped into a scammer's digital wallet, gone forever. This is not a rare story. It's happening across Oklahoma, where criminals are turning cryptocurrency ATMs, also called digital asset or bitcoin kiosks, into tools for theft, draining millions from our communities.
Criminals pose as authorities, bank officials, computer tech support or even loved ones, spinning tales of urgent crises: 'Your account has been hacked — send cash now!' or 'Pay this fine through the ATM to avoid arrest!' The individual is then directed to insert money into a cryptocurrency ATM via QR code, where the funds are immediately transferred to the criminal's digital asset wallet.
More: Scammers often target seniors. Here are tips that can help you protect yourself, loved ones
Thankfully, help is on the way. Senate Bill 1083 by Sen. Darrell Weaver and Rep. Mark Lepak tackles this crisis head-on. Cryptocurrency ATMs, unlike other regulated financial institutions, lack state-level fraud protections and oversight. SB 1083 adds targeted safeguards, mandating that new customers who fall victim to cryptocurrency ATM fraud may receive a refund if they report the incident within 14 days to law enforcement and the ATM operator. Additionally, it imposes daily transaction limits to mitigate the risks associated with higher transaction amounts.
To further protect consumers, the bill requires posting fraud warning notices at ATMs that detail steps individuals should take if they suspect fraudulent activity. ATM operators' fees are capped, and they are required to refund fees on fraudulent transactions. Senate Bill 1083 will also authorize the Oklahoma Banking Department to oversee licensure within the state, monitor complaint activity and revoke operator licenses if they receive multiple consumer complaints.
Scammers often trick vulnerable people — often elderly — into sending them thousands of dollars to resolve fake problems. A new law introduced in the Oklahoma Legislature would help recovery efforts.
The numbers tell a grim story. The FBI's 2024 Internet Crime Report shows a 99 percent spike in cryptocurrency ATM-related fraud complaints nationwide, with losses up 31 percent from 2023. Older adults are prime targets, losing more than $107 million as scammers exploit their trust. In Oklahoma, these cryptocurrency-related scams including those involving ATMs cost residents $37.7 million in 2024. This data reflects only reported cases, with actual losses much higher due to unreported scams.
More: Guest column: Ignoring unknown calls could save you from scammers
Oklahoma's lawmakers have a choice: protect our families or let criminals exploit this loophole. Passing SB 1083 is not just a vote for stronger laws — it is a stand for our neighbors, our families, our communities. Every Oklahoman deserves protection from this digital con. Now is the time for our lawmakers to vote yes on this bill and for Gov. Stitt to sign it into law.
Make your voice heard: tell lawmakers to vote yes on SB 1083 by going to action.aarp.org/OKStopFraudNow. Let's make Oklahoma a place where digital innovation lifts us up, not leaves us broke.
Jeff Miller
Jeff Miller is an AARP Oklahoma executive council member and an AARP Fraud Watch Network volunteer.
This article originally appeared on Oklahoman: Helping elderly people who are scam targets | Opinion
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