An Austin woman was scammed out of thousands of dollars after falling victim to an elder fraud scheme earlier this week. The woman, who has asked to remain anonymous, shared her experience of receiving a phone call from a man claiming to be from the sheriff’s department. He told her she had a warrant for her arrest for missing jury duty and instructed her to withdraw a large sum of cash and convert it to Bitcoin at a local H-E-B store.
“He told me I had to withdraw a great deal of money from the bank in cash,” the woman said. “Then he told me I had to go to an H-E-B or somewhere because they don’t take checks or anything.”
Under the pressure of the phone call and with her husband in the hospital, the woman followed the caller’s instructions and sent thousands of dollars. After she sent the money, the scammer demanded even more, claiming additional warrants were issued against her. Fortunately, a bank manager recognized the fraud before she lost more money, advising her to block the scammer’s number.
This case is part of a rising trend in elder fraud, particularly in Texas. According to the FBI, Texans over the age of 60 lost over $278 billion to elder fraud schemes in 2022 alone. Supervisory Special Agent Adam Pohl, based in the Greater Austin area, stated that he receives daily complaints about such scams, especially investment and tech support fraud schemes.
In investment fraud schemes, scammers lure victims into buying cryptocurrency or other investments, even providing fake accounts to make victims believe they are making profits. When the victim attempts to withdraw funds, scammers demand additional payments for fees. By the time the victims realize what’s happening, the money is often gone.
Tech support scams work similarly. Victims are prompted by fake pop-ups on their computers claiming their devices are infected. Once contact is made, scammers create a sense of urgency, convincing victims to move their assets—sometimes buying gold or other precious metals, withdrawing cash, or investing in cryptocurrency.
Pohl urges people to pause and verify the situation before taking action. “Pause, take a breath, step back, verify independently what you’re dealing with,” he said, recommending that victims seek advice from family, friends, or neighbors.
If someone has fallen victim to such scams, the FBI encourages reporting it to the Internet Crime Complaint Center (IC3) to help in further investigations.
These elder fraud schemes are part of a broader trend, with $1.6 billion lost to such scams just between January and May of this year. As these crimes grow more common, it is important for people, particularly seniors, to be aware of these tactics and take steps to protect themselves.