Latest news with #scammers
Forbes
a day ago
- Business
- Forbes
Bitcoin ATM Scams Costing Americans More Than $114 Million
Bitcoin ATM machine, dispensing the cryptocurrency Bitcoin (Photo by Smith Collection/Gado/Getty ... More Images) A report from the Federal Trade Commission (FTC) indicates a 1,000 % increase in money lost to scammers through Bitcoin ATMs in the last three years with consumers reporting losses of more than 114 million dollars in 2023. Bitcoin and other cryptocurrency ATMs look just like traditional ATMs, but instead of distributing cash, they take cash in exchange for cryptocurrency and enable the transfer of the deposited cash turned into Bitcoin into crypto wallets. Due to the anonymity and immediacy of the Bitcoin transfers done through a Bitcoin ATM, it is a favorite method of payment for scammers. Presently there are more than 30,000 Cryptocurrency ATMs around the country and they are largely unregulated. Most of the scams using Bitcoin ATMs involve imposter scams where the scammer poses either as a law enforcement officer, government official or someone providing tech support for a non-existent problem. What all these imposter scams have in common is that they scare the targeted victim with a story about an emergency that requires them to take cash from their bank account and use a QR code provided by the scammer to deposit the money into the account of the scammer at a Bitcoin ATM under the guise of protecting the funds. A typical example of this type of scam earlier this year involved a 66-year-old retired health care worker in South Carolina who received a phone call from a scammer posing as an officer with the Beaufort County Sheriff's who told her that she was in contempt of court for missing jury duty and that there was an arrest warrant out for her. She was told, however, that she could stay out of jail if she paid a $7,500 bond through a Bitcoin ATM. According to the FTC, people over 60 years old were more than three times more likely to report losing money to a Bitcoin ATM scam with an average loss of $10,000. Arizona state representative David Marshall has filed House Bill 2387 which would provide needed regulations for these cryptocurrency ATMs to help prevent people from being scammed. If passed into law, the bill would require warnings on the ATMs before the user could do a transaction. The warnings would also provide information about cryptocurrency scams. Additionally, the bill would require the ATMs to provide printed receipts that would include information useful to law enforcement in the event of a scam. The law would also limit the amount of funds someone could deposit into a new account or send in a 72 hour period. Scammers often require their victims to send repeated deposits. Finally, the law would require greater transparency in the operation of the ATMs. The bill passed unanimously out of committee and is presently awaiting further action in the state Senate. On the federal level, Illinois Senator Dick Durbin along with Rhode Island Senator Jack Reed, Connecticut Senator Richard Blumenthal and Vermont Senator Peter Welch is proposing a bill to respond to the problem of Bitcoin ATM scams. The bill, entitled the Crypto ATM Fraud Prevention Act would prevent new users of the cryptocurrency ATMs from spending more than $2,000 in a single day or $10,000 over a two-week period to purchase cryptocurrency at Bitcoin ATMS. The proposed law would also require Bitcoin ATM companies to speak directly with new customers attempting to perform transactions of more than $500 and require full refunds when those customers file police reports and alert companies operating Bitcoin ATMs within 30 days of their transactions. The bill also would require operators of Bitcoin ATMs to provide receipts for each transaction, including information sufficient to trace the transaction. Such receipts would also be required to include contact information for relevant law enforcement. Protecting yourself from these imposter scams starts with recognizing that you can never be sure who is actually contacting you when you are contacted by phone, email or text message so you should never click on a link, download an attachment, make a payment or provide personal information in response to any of those communications unless you have absolutely confirmed that the communication was legitimate. Further, there is absolutely no circumstance where you will be asked by anyone legitimate to withdraw funds from your bank, deposit them into a Bitcoin ATM and transfer the funds to them. Only scammers make those requests.
RNZ News
2 days ago
- Health
- RNZ News
Fears deepfake advertisements for medicines putting people at risk
People are being warned not to fall for misinformation or sales pitches from online scammers purporting to offer advice from doctors about diabetes medicines. Photo: 123rf People with Type 2 diabetes have been warned to be cautious about buying medicine online, after several ads featuring New Zealand doctors selling treatments for the disease were found to be fake. The New Zealand Society for the Study of Diabetes said the deepfake videos were created using artificial intelligence with real footage, to make it look like a genuine doctor was speaking, when they were not. President Dr Jo McClintock said she knew of at least three doctors whose image and names had been used by the scammers - one in November and two in the last two months - and several patients were thought to have bought the scam supplements. "That's not to say there aren't more [doctors targeted]. It's only through people living with diabetes who have reached out, that we've been made aware of these social media posts." People should check in with their GP or health professional teams if they were getting messages about medicines that seemed too good to be true, she said. The ads were also "very clever", she added. "There are international examples as well, where they're saying they're ground-breaking treatments that will cure your diabetes and you don't need to take your medications anymore." One of the biggest worries was the misinformation being spread, she added. "People are are at risk taking unapproved treatments, potentially unsafe supplements and stopping their current prescribed medications." McClintock said anyone who had paid for a product after seeing one of the ads should report it to police. Get reliable information from trusted sources, like Healthify or Diabetes New Zealand . If you're unsure about an advert you've seen online, check with the trusted sources above. If you are thinking about changing your medication, check with your doctor or diabetes nurse first. If you have paid for a product after seeing one of these ads, you can report it to the NZ Police by calling 105, or on the police website's fraud and cybercrime page . Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Yahoo
2 days ago
- Business
- Yahoo
Spam texts and robocalls are more than a nuisance. People are being scammed.
If you're anything like me, you've probably reached your limit with the incessant barrage of spam text messages and calls that flood your phone. It seems that every few minutes, I get yet another unsolicited message — whether it's from a random number trying to convince me to sell my home or a marketing survey asking for my thoughts on everything from the current state of the economy to the performance of President Donald Trump. The most frustrating part about these intrusions is the constant prompt to type "Stop" if you wish to opt out. Yet, I've noticed that responding in this way often feels counterproductive; instead of putting an end to the harassment, it seems to only add my number to even more lists of groups that bombard me with relentless messages. The frustrating cycle worsens when I receive a call from an unknown number. If I don't answer, I might miss an important call. Conversely, when I do pick up and hear, 'Hello, James, we've been reviewing your property and are ready to extend a generous offer to you…' I want to scream. Robocalls and scam texts are not only frustrating; they can also lead to significant financial losses. I usually don't allow the caller to finish their second sentence on a spam call before I interrupt and tell them to remove me from their call list. When they are aggressive — and some can be — I resort to a few choice colorful words, much to my wife's dismay. I added my number to the national do-not-call list in 2024 because I was overwhelmed by the numerous spam calls and texts from phone companies, individuals trying to buy my house, and people conducting political surveys. However, it seems that the calls and texts have gotten worse than ever. Here are just some of the spam text messages I received recently: 'The Fed warned that a recession may already be here. Unemployment is growing. Prices are still going up. The Republican budget will only make it worse, handing more tax breaks to billionaires while the rest of us worry about making ends meet. Is your family ready for a recession? -TS Stop to end' Recession Alert: Trump calls it 'an adjustment period.' His Treasury Secretary said there are 'no guarantees' we avoid recession. The Fed is worried. So is the Wall Street Journal. They know Trump's reckless tariffs will cripple small businesses, cost jobs, and raise prices for American Families. It's all part of the Republican plan to give mass tax breaks to the richest Americans while the rest of us try to make ends meet. Stop to End.' 'Hi James, if the 2025 midterm elections to Congress were held today, for which party would you vote? Republican B. Democrat C. Other D. Will not vote' 'Hi, James. We are reviewing properties in your area and are prepared to make you a generous offer on your property located at (address). Don't let the opportunity pass you by. There has never been a better time to sell your home.' 'Dear James, my name is Cindi, and I was wondering if you would be interested in selling your property at (address). If you're wondering how I got your information, it's all on public records. Don't feel like you're being targeted. If you're interested in selling your property, it will be a FAST and EASY transaction, because we can pay CASH!' I've also received robotexts from institutions that appeared legitimate but were ultimately scams. For example, on March 27, I got a message from E-ZPass claiming that I had an 'outstanding toll.' It text stated, 'If you fail to pay by March 30, 2025, you will face penalties or legal action.' The text included a link for more details. Officials have warned the public about this nationwide scam and advised against clicking on the link, as it could install malware on their devices. While the number of robocalls has decreased by 17% over the last three years, unwanted robotexts have tripled during the same period. This indicates that scammers are increasingly using unregulated texts, according to the Federal Trade Commission. You are likely receiving more robocalls as well, because 21% of Americans, or approximately 56 million people, lost money due to scam calls in 2023, according to Truecaller's U.S. Spam and Scam Report. According to the report, those who have been defrauded tend to be the segment of the community who can least afford a financial loss. While volumes have declined, the threat may have accelerated, according to the report. The report highlighted that during election cycles, Americans receive unprecedented levels of mobile targeting for calls and messages aimed at fundraising, influencing behavior, and, in many instances, enabling fraud by bad actors who exploit the commotion. Some of the key findings from the report: Black and Hispanic adults were twice as likely to report losing money due to robocalls and texts compared to white Americans. Artificial intelligence is increasingly utilized to make these scams sound more realistic. Individuals aged 18-44 are three times more likely to be targeted than older adults. Robocall and text scams have cost Americans $25.4 billion in losses. The primary question is: How can we, as consumers, protect ourselves from spam and safeguard our personal information? It's important to remember that not all robocalls or robotexts are spam. Some are automated messages, such as the reminder I receive from my dentist a few days before my appointment, or notifications when I'm late on a credit card payment — those are particularly frustrating. A story by my USA Today colleague Cody Godwin suggests that we should consider several steps to enhance our safety. Godwin recommends contacting your wireless provider to see which tools and solutions they offer that you can implement. Some may already be built into your device to block or flag spam calls. I've just learned this: you should also ensure that your caller ID is activated. You can register your phone number with the National Do Not Call Registry. Opinion: Here's what readers had to say about wake-enhanced boating on Wisconsin lakes While this is intended to prevent telemarketers from calling or texting you, we acknowledge that not everyone adheres to this rule. Although most people don't go this far, if the calls and texts continue, you can file a complaint online with the FTC or FCC. You can also call the FTC at 1-877-FTC-HELP or the FCC at 1-888-CALL-FCC. Another option is to download and activate a robocall blocking app. For extra protection, be smart and never give access to your bank information, Social Security numbers, mother's maiden names, passwords, or other identifying information in response to unexpected calls or if you are at all suspicious. If you answer the phone and the caller or recording asks you to press a button to stop receiving calls, simply hang up. Scammers use this trick to identify potential targets. While I desire stronger measures to combat the constant influx of unwanted robocalls and intrusive robotexts, I can't help but feel that the situation will only worsen. Therefore, it is up to us to stay alert and protect ourselves from unsolicited communications that buzz and ding from unknown numbers. It is essential to remain vigilant and protect our personal space and assets amid this growing digital chaos. Reach James E. Causey at jcausey@ follow him on X@jecausey. This article originally appeared on Milwaukee Journal Sentinel: Spam calls, texts can cost you money. Don't fall for them | Opinion
Yahoo
2 days ago
- Business
- Yahoo
Arizona woman tricked into giving $50K in cash, home address to fraudster — how to protect yourself from scams
Crypto scams that leave victims in financial ruins are on the rise in 2025, but one Arizona woman's experience shows that scammers are becoming more brazen with their methods. As AZ Family reports, a woman from Prescott received a phone call from someone telling her that her Apple account had been fraudulently charged. The scammer reportedly told the woman that she could be arrested if she didn't submit a payment of $50,000. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) But this scammer didn't instruct the woman to pay using cryptocurrency. Instead, the woman was pressured into divulging her home address so that the scammer could pick up the cash in person. The scammer reportedly instructed the Prescott woman to withdraw the $50,000 that she "owed" from her bank account, but warned that she would need to lie to the bank to get the funds. The woman was then told to put the money into an envelope, which the scammer would then pick up. Driving a Toyota sedan, the scammer drove to the woman's house and instructed her to place the envelope in the trunk. It wasn't until several hours later that the victim realized she had been scammed. The woman called the sheriff's office to report the situation but, unfortunately, the police were unable to find the scammer's Toyota despite deputies conducting a search of the area. And just like many scam victims, the woman is unlikely to recover her lost money. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it As the Yavapai County Sheriff's Office (YCSO) explained to AZ Family, fraud cases have significantly increased in 2025, and scammers are becoming more bold with the ways that they con victims into giving up large sums of cash. Many of today's common scams involve either the exchange of cryptocurrency or convincing the victim to buy gift cards or wire money. Data from the FBI backs up what the YCSO has warned about the rising risk of fraud. The FBI's Internet Crime Complaint Center said in its 2024 report that financial losses from fraud schemes were up 33% from 2023, exceeding $16 billion. There were nearly 860,000 fraud complaints in 2024, with people aged 60 and over making the most reports and collectively losing close to $5 billion. Phishing and spoofing scams remain the most common type of online fraud. These scams typically include criminals pretending to be from a reputable company or entity, such as a credit card company, bank or even the U.S. government. These scammers also con victims by pretending to be someone the target may know — such as a boss or someone in the target's family — conning innocent victims into downloading malicious software, providing personal information or handing over large sums of money. Identity theft, romance scams and check fraud are a few of the other common fraud schemes. With fraud schemes on the rise, Americans need to protect themselves so that they don't end up losing substantial sums of money like the unfortunate woman from Prescott. As the YCSO explained to AZ Family, Americans need to remember that government entities and police forces will never request payment in cryptocurrency, nor will they ever visit your home to collect penalties and fees. Keeping that in mind is a good way to avoid falling for an impersonation scam, which was the same type of scheme that the Prescott woman fell for. Here are some other tips that can help you avoid falling victim to a scam: Avoid answering phone calls from unfamiliar numbers. If the "government," a "bank" or another trusted institution calls, call the institution back on an official phone number, which can be found on the institution's website. Never give money, gift cards or personal information to anyone you do not know and have not met in person. Don't open or respond to any text messages or emails from unfamiliar people or entities. You should also be very careful about interacting with texts and emails that appear to come from your bank or another institution that you're affiliated with. The Federal Trade Commission has several tips on how to spot a phishing scam. Limit the personal information that you share online. Hopefully, following these tips will help you avoid criminals trying to part you from your money. Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This is how American car dealers use the '4-square method' to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Khaleej Times
2 days ago
- Business
- Khaleej Times
Dubai: Luxurious hotels at cheap prices? Offer may be a scam, warn authorities
Saw a low-priced staycation venue with high-quality amenities, stunning views, and a feel of quiet luxury? Don't jump to book just yet. Authorities in Dubai have warned of fake staycation and getaway offers. Such scammers may use visuals of what seems to be elegant hotels or beach chalets to lure potential victims. While you may be looking to surprise your loved ones with a well-deserved break, they might get a different kind of surprise if you show up to the location only to realise that no such venue exists. Scam getaway location listings may ask for your financial details, and once the transaction is processed, stop answering calls or responding to messages. Dubai Police emphasised the importance of booking through trusted agents and websites, in a video advisory posted on X.
