Attorney General Kris Mayes is warning Arizona seniors to be on high alert for a new wave of bitcoin scams targeting vulnerable individuals.
Fraudsters are calling seniors, sometimes armed with a senior’s personal information such as social security numbers or addresses, to deceive them into believing their financial accounts have been compromised. The scammers then urge quick action, instructing victims to withdraw funds from their bank accounts and wire them as bitcoin, all while discouraging them from contacting law enforcement or telling anyone about the ongoing “investigation.”
“Scammers are taking advantage of vulnerabilities among some senior citizens like trust in others and a lack of familiarity with digital currencies like bitcoin,” said Attorney General Mayes. “It’s crucial that our seniors take the time to verify information and consult with trusted advisors or family members before making irreversible financial decisions.”
Tips to Avoid Falling Victim to Scams:
- Verify Information: Before taking any actions, hang up, and independently verify the legitimacy of the caller by directly contacting the organization they claim to represent. Never use the contact details they provide — call whoever they claim to represent directly. Scammers can mask numbers making it appear that a legitimate company or organization is calling you.
- Be Skeptical: Always be skeptical of unsolicited calls, especially those asking for immediate action involving financial transactions. A government agency will never ask you to remove money from your accounts to send via bitcoin, wire transfer or gift cards.
- Secure Your Personal Information: Never share personal information like your social security number, bank account details, or passwords over the phone with unknown callers or give anyone real-time access to your computer..
- Consult Trusted Individuals: Always consult with a trusted family member or friend before making any substantial financial decisions, especially those involving digital currencies like bitcoin.
- Report Suspicious Activity: If something feels off, it probably is. Report the call to local law enforcement and file a complaint with the Arizona Attorney General’s Office.
If you believe you or someone you know has been the victim of fraud file a consumer complaint by visiting www.azag.gov/consumer. If you need a complaint form sent to you, contact the Attorney General’s Office in Phoenix at (602) 542-5763, in Tucson at (520) 628-6648, or outside the Phoenix and Tucson metro areas at (800) 352-8431.
If you believe you have been the victim of identity theft, get help from the Federal Trade Commission (FTC) by visiting www.identitytheft.gov or by calling (877)-438-4338.
The Arizona Attorney General’s Office is committed to protecting seniors and vulnerable adults from abuse of any kind. To report an emergency, call 9-1-1. For non-emergency physical abuse contact Adult Protective Services at 1-877-SOS-ADULT (1-877-767-2385). For more information visit: www.azag.gov/seniors/senior-abuse.
