FCPD Combats Crypto-Related Scams: How to Avoid Falling Victim to Fraud

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Fairfax County, VA – Detectives and investigators from our Financial Crimes Division warn community members of Bitcoin and crypto-related scams being reported within the county, with the majority of victims being elderly. The department is committed to raising awareness and providing prevention tips to safeguard our community members against falling victim to these fraudulent activities.

In almost a dozen reported cases since the end of October, our investigators have observed a trend in scams involving cryptocurrency. Criminals are exploiting individuals, particularly the elderly, into depositing money into crypto ATMs and defrauding them of their money.

DateVictim AgeDescription of Incident
10/13/202371Victim was scammed into depositing $14,900 into crypto ATM
11/15/202323Victim was scammed into depositing $1,000 into crypto ATM
11/15/202376Victim was scammed into depositing $21,000 into crypto ATM
11/16/202373Victim was scammed into depositing $17,900 into crypto ATM
11/20/202372Victim was scammed into depositing $15,000 into crypto ATM
11/30/202386Victim was scammed by inserting a bank card into ATM. $25,000 stolen
12/04/202378Victim was scammed into depositing $15,000 into crypto ATM
12/04/202385Victim was scammed into depositing $15,000 into crypto ATM
12/06/202380Bitcoin ATM was broken. Nothing stolen.
12/08/202370Victim was scammed into depositing $12,000 into crypto ATM
12/10/202356Victim was scammed into depositing $8,000 into crypto ATM

The Scam:

These scams begin when scammers call victims and pose as legitimate entities, businesses, or even government agencies. Scammers then use varying deceptions to convince victims into depositing funds into a crypto ATM or converting money into gift cards or other forms of payments that are difficult to trace or recover. These criminals often prey on the elderly, taking advantage of their trust and lack of familiarity with the digital currency landscape.

Prevention:

The Fairfax County Police Department urges community members, particularly seniors, to remain vigilant and follow these essential tips to protect themselves from falling victim to phone scams and fraud:

  • Verify Caller Identities: Always confirm the identity of the person or organization contacting you, especially if they request personal information or financial transactions. Apple, Microsoft, Norton, MacAfee, eBay, PayPal, Amazon, or Google will never call you on the phone and ask for any kind of payment. It is a good idea to hang up and call the institution using their known contact information from official websites.
  • Be Skeptical of Unsolicited Calls: Anyone who calls you on the phone asking for payments with gift cards of any kind (Greendot, iTunes, Google Play, Target, Walmart etc.) should be considered suspicious and it is likely a scam. Other fraud indicators are requests for money through wire transfers (MoneyGram, Western Union, Walmart to Walmart, Zelle, Venmo, CashApp).
  • Consult with Family or Friends: Before making any financial decisions, especially those involving large sums or unfamiliar technologies, consult with trusted family members or friends.
  • Don’t Share Personal Information: Never share personal or financial information over the phone unless you initiated the call and are certain of the recipient’s legitimacy.
  • Use Trusted Platforms: When dealing with Bitcoin or other digital currencies, use reputable and well-established platforms for transactions.

Tips:

  • Law enforcement will never call you on the phone and ask you to pay money to avoid arrest or post a bond.  Other common scams include notices of missing jury duty or a Federal Agent calling you and saying that your name and identity has been discovered being involved in criminal activity or money laundering.  The FBI, DEA, SSA, DHS, ICE, FTC, IRS, or any local police, just to name a few, will never call you on the phone and ask for money for any reason.
  • Never let anyone “remote” into your computer.  Scammers pretending to be from Amazon, Apple, Microsoft, Google (or others) will ask for remote access to your computer to “fix” the issue or attempt to refund money to you for an alleged fraud charge.  Do not allow remote computer access, this is a scam. Scammers will claim they are going to refund money to your bank account, but instead they will steal it.

If you have been a victim of a financial crime, please contact the Fairfax County Police Department by filing a report through our Financial Crimes Online Reporting (FiCOR) website. If you are unable to file a report on the computer, call our non-emergency line at 703-691-2131 to have an officer assist you with making a FiCOR report.

For more information about Elder fraud, visit the Department of Justice’s Office for Victims of Crimes website by clicking HERE. If you have been a victim of elder fraud and reside outside of Fairfax County, you can call the National Elder Fraud Hotline at 1-833-372-8311.

For ongoing updates, please read our blog and follow us on Twitter, Facebook and Instagram at @FairfaxCountyPD.