$98 Million Scammed from San Diego Seniors in 2023

RISE OF SCAMS
Educating the Masses

This week, I’m trying to change things up.

Every week, more scams are coming to light and it’s crucial for us to educate the public. I’ll be adding two articles so we can cover multiple topics. Let me know your thoughts on what you want to see.

I was shocked by the San Diego article claiming $98 million was scammed from seniors. Then I realized that less than 9% actually claim scams and my heart broke as I thought of the thousands of elders that lost their life savings, their home, and everything they worked decades for.

Education is the only way to stop the scammers. There may be a new scam every week, but we can learn the fundamentals to stay safe.

Thanks,

COMMON SCAMS
$98 Million Scammed from Seniors in San Diego County

Hundreds of seniors showed up to learn about the variety of scams taking place in San Diego. San Diego District Attorney Summer Stephan, said they’ve been able to track nearly $98 million in elder-related scams across the county, and that’s only what’s reported.

Common scams in San Diego are common everywhere:

• Tech problems on your computer

• Unknown numbers texting you

• Facebook direct messages

If you come across a pop-up on your computer that says … “To unlock the computer please call support immediately. Please do not attempt to shutdown or restart your computer, doing that may lead to data loss or identity theft.”

It’s probably a scam.

If you receive a text message from an unknown number, it’s probably a scam.

Our only weakness is trusting people, and these scammers prey on that weakness.

NATIONAL CENTER FOR ELDER ABUSE
Steering Clear of Pig-Butchering Scams

The National Center for Elder Abuse released a timely article on how to avoid becoming a victim to pig-butchering scams. Feel free to share it and help others to understand how to spot the scam and avoid it.

Paul Greenwood, Ret. Deputy District Attorney & Head of Elder & Dependent Adult Abuse Prosecution Unit, San Diego County Attorney’s Office shares the following:

“It can start with a simple and innocuous text saying “Hi!”

But that initial greeting can impact a person’s life forever; and sometimes lead to tragedy.

The immediate reaction is to engage by texting back “I think you may have the wrong number.”

The stranger then apologizes for interrupting your day and schedule. Again, the polite response is to say that it really is no problem, with an expectation that the conversation will end.

But the stranger continues; words of gratitude for your understanding follow and then comes the hook. Gradually the anonymous texter is able to extract a little information from you and succeeds in engaging you in discussion.

The texter then shares enough information to raise your curiosity. This person lives in what would be considered to be an upmarket location in the United States. Their lifestyle triggers an immediate sense of envy, jealousy, or admiration. Your thoughts turn to questions: how has this person who appears to be young have accumulated wealth in such a short time?

Your desire for answers gets the better of you; what is your secret you ask? Your “new friend” is reluctant to give too much away; after all they owe everything to their uncle who introduced them to an amazing investment opportunity.

And now the fear of missing out overwhelms you. There is urgency in your texts. You want to know more.

Ultimately you are introduced to the world of crypto currency; and you are excited about the newly discovered opportunities to convert your conservative investments into quick profits.

This scenario has become all too common in the past three years. It appears that online predators have taken advantage of the fact that the crypto currency markets are still largely unregulated; investing in crypto has become more acceptable; and it is still challenging for law enforcement to follow the money once it is converted into this form of investment. Additionally, more and more crypto ATM machines are popping up in liquor stores, gas stations, and even in main line supermarkets.

By the time that the victim discovers that this “get rich quick” scheme is fraudulent, the opportunity to recover funds is almost impossible – unless an immediate intervention is instigated within the first few hours of the transaction.

Too often the victim is engulfed in shock and embarrassment and is more inclined to stay silent – thus preventing any hope of a recovery of funds. And tragically some victims contemplate ending their life.”