Beware of Scams Targeting Elderly People
The Internet is a blessing and a curse. You, I, and indeed the world depend on it. But we all need to be wary, as traps lie everywhere along our Internet paths. We try our best to keep you safe from all the nasty stuff that lurks on the Internet. The need to be wary and skeptical while you use the internet can be costly – both financially and personally. And it can happen to any of us, no matter how intelligent or technically savvy we are.
Here’s the story of a 76-year-old man who lost $30,000 to scammers. We hope you read it and learn from it because it can happen to anyone.
76-year-old man loses $30,000 in scam targeting elderly people
HINGHAM, Mass. — A 76-year-old Hingham resident lost $30,000 after being the victim of a scam targeting elderly people.
According to Hingham police, on Match 25, a resident came to the police station to On Monday, March 24, 2025 a resident came to the police station to report that two weeks earlier, he had fallen victim to a scam. He said he was contacted by scammers and believed his computer became infected with a virus or malware.
The scammers told the resident that his money in a Hingham bank was at risk of being stolen. The scammer advised him to withdraw $30,000 in cash from the bank but cautioned him not to tell the bank staff why because an employee there “was corrupt as well”.
The resident went to his bank, withdrew the cash, and then was told he needed to deposit his cash in an “FDIC machine to keep his money safe”. Police say the resident asked where they could find a machine like that, and the scammer told them a nearby gas station in Norwell had a machine.
The resident went there and saw a Bitcoin machine. The scammer explained that it was a “dual machine” and that it was safe to deposit the cash. He deposited the $30,000 into a Bitcoin account.
“The scammer called him back and advised him to convert $35,000 from his stocks into cash and deposit it into his Hingham bank account. He made the transfer and was about to withdraw that cash but became suspicious when the man said to bring the cash home and that someone would come to his home and pick it up to keep it safe,” police said in a release.
The resident then realized it was a scam and notified his bank.
As with similar scams, the scammers likely kept the resident on the phone to make sure he did not have the time to call someone to confirm or verify information.
According to police, this also helps the scammer make sure they follow instructions.
“We have seen scammers stay on the call for 2-3 hours while the person drives to the bank and makes a withdrawal. As with all scams, they are skilled in their phone skills and putting fear into the victims that their money is at risk unless they follow directions,” police added.
It is really sad that they prey on the elderly. I myself have received email, phone calls saying they are this company or that company. And I know that my bank, and others do not call me or send me emails. If I get any that looks professional I get on the phone and call them to see if it was them. I know people who have been scammed and it’s sad.