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Financial Tip of the Week

Financial Tip of the Week

Did Someone Send You to a Bitcoin ATM? It’s a Scam

By: Jennifer Leach, Division of Consumer and Business Education

Is there a legit reason for someone to send you to a Bitcoin ATM? The short answer is NO. Will someone from the government send you to a Bitcoin ATM? NEVER. If you’ve followed this Anatomy of an Imposter Scam series, you know there’s more to it than that.

Scammers succeed because they’re good at what they do — which is lying. So, if someone calls and says you have to act now because your money is at risk, you might listen if they’re convincing. They’ll scare you into keeping it a secret — even from your closest loved ones. Once they have you alarmed and alone, they’ll give you the solution to the problem they just created: “protect your money by moving it.” And that’s when they’ll send you to a Bitcoin ATM to “secure” your money. “Problem” solved? Not even close.

Read More

Anatomy of an Imposter Scam

 

 

 

 

 

 

Piggy bank with coins underneath

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