TYNGSBOROUGH — Police Chief Richard Howe reports that the Tyngsborough Police Department is investigating an incident in which a resident was scammed out of thousands of dollars via a Bitcoin scam, and police are offering tips to help other residents avoid such scams.
On Wednesday, March 6, The Tyngsborough Police Department was contacted by an elderly resident who lost $5,000 after falling for a scam. In the scam, an individual who called by telephone advised the resident that their bank account was compromised and that the resident needed to withdraw all their funds and transfer them into Bitcoin for safety.
The resident then went to a local store and deposited their cash into a Bitcoin ATM machine.
“It is extremely difficult to prosecute scams such as this or to recover funds lost to such scams, so we want to help educate the public and especially seniors about the various warning signs of scams to help protect them,” said Chief Howe.
The Federal Trade Commission (FTC) offers the following four signs to help people recognize possible scams:
- Scammers pretend to be from an organization you know. They might use a real name, like the Social Security Administration, the IRS, or Medicare, or make up a name that sounds official. Some pretend to be from a business you know, like a utility company, a tech company, or even a charity asking for donations.
- Scammers say there’s a problem or prize. They might say you’re in trouble with the government, that you owe money, that someone in your family had an emergency, or that there’s a virus on your computer. Some scammers say there’s a problem with one of your accounts and that you need to verify some information. Others will lie and say you won money in a lottery or sweepstakes but have to pay a fee to get it.
- Scammers pressure you to act immediately. They might tell you not to hang up so you can’t check out their story. They might threaten to arrest you, sue you, take away your driver’s or business license, or deport you. They might say your computer is about to be corrupted.
- Scammers tell you to pay in a specific way. They often insist that you pay by sending money through Bitcoin, a money transfer company or by putting money on a gift card and then giving them the number on the back. Some will send you a check (that will later turn out to be fake), tell you to deposit it, and then send them money.
The FTC also recommends that if you get an email or text message from a company you do business with and you think it’s real, it’s still best not to click on any links. Instead, contact them using a website you know is trustworthy, or look up their phone number. Don’t call a number they gave you or the number from your caller ID.
Residents who believe they may have fallen victim to such a scam, or who believe they may be communicating with would-be scammers, are encouraged to contact the Tyngsborough Police Department at 978-649-7504.