Money Moment: Crypto ATM scam warning from FTC

Published: Sep 03, 2024 Duration: 00:02:24 Category: News & Politics

Trending searches: atm
Money Moments on four sponsored by Gregory. Rick and Associates, the Total Wealth Authority 615 in this morning's money moment. The Federal Trade Commission warns scam activities related to Cryptocurrency. Teller machines are on the rise. Bitcoin teller machines or crypto ATM S can be found at convenience stores, bars and gas stations instead of letting you withdraw cash, users can buy or sell digital currency using their real cash or their cards. Another difference is that these ATM S are linked to a digital crypto wallet, not a bank account at a regulated financial institution. The better business bureau says scams using these types of ATM S are common. They say among their most common financial scams, criminals often target older customers with people 60 years and older being three times more likely to fall victim. A fraudster may claim your computer or bank account has been hacked and to some criminal activity and then instruct you to withdraw cash from your real account and then send a QR code for you to put that money into a crypto machine, sending it to the thieves wallet. And once that happens, it's nearly impossible for you to recover your money. This exact situation happened just as recently as this week to a 74 year old woman in Saint Tammany Parish, Wanda. Tar told Saint Tammany Parish sheriff's deputies that she was on the phone with scammers for six hours after she called the number she thought was apple security. Those scammers told her to drain nearly 11 $1000 out of her account to prevent someone from buying gold bars with her money. Meantime, they sent a link which allowed her to remote into her phone's mic and camera. The scammers even tried to text her family. According to authorities, they told me I was being followed. They knew where I was. I said, oh my God, you can't connect, you can't talk to anybody. You can't text anybody because your family will be in jeopardy bottom line. A real business or government agency will never ask you to do any of these things. As we say, whenever we tell you these stories, never, never click suspicious links no matter where you are on social media. If it's sent to you and always verify phone numbers you find online. And that is your money moment for this Wednesday morning.

Share your thoughts

Related Transcripts

$50K unclaimed Powerball Ticket sold in New Orleans set to Expire Oct. 3 thumbnail
$50K unclaimed Powerball Ticket sold in New Orleans set to Expire Oct. 3

Category: News & Politics

All right. now, if you purchased a lottery ticket in the past couple of months and you passed by a certain store on a certain day, listen up. it's because nobody claimed a $50,000 louisiana lottery powerball prize back on april 6th, the winning ticket was purchased at lakeview discount on harrison avenue... Read more

Norfolk Southern CEO Alan Shaw, chief legal officer both fired for inappropriate relationship thumbnail
Norfolk Southern CEO Alan Shaw, chief legal officer both fired for inappropriate relationship

Category: News & Politics

We begin with breaking news tonight, norfolk, southern ceo alan shaw has been fired. now, this comes after the company's board accuses him of having an inappropriate relationship with chief legal officer nanita nag. now the company says she has also been fired. shaw was in charge of the company during... Read more

Legal analyst discusses trial over Kroger-Albertsons merger thumbnail
Legal analyst discusses trial over Kroger-Albertsons merger

Category: News & Politics

Kroger and albertsons are fighting the ft cs attempt to block their merger. a federal judge in portland oregon is hearing from both sides in a trial that started monday and it's scheduled to last for three weeks. the federal trade commission is requesting a preliminary injunction to delay the deal.... Read more

Entergy New Orleans gives an update on power restoration efforts thumbnail
Entergy New Orleans gives an update on power restoration efforts

Category: News & Politics

Right now, tens of thousands of energy customers are still without power due to the impacts from hurricane francine. so here's where we stand right now. at 817, terrebonne parish has the most outages with nearly 22,000 customers in the dark. jefferson and lafoe parish both have around 16,000 outages.... Read more

About 4,000 people displaced during Boyles Fire evacuations thumbnail
About 4,000 people displaced during Boyles Fire evacuations

Category: News & Politics

But first we're tracking the latest on the boyles fire in clear lake, it's now burned 81 acres with containment at 30%. officials estimate about 4000 people were displaced during evacuations. cal fire says about 30 structures were damaged and the fire destroyed 40 to 50 vehicles. abc ten's roxanne has... Read more

YOUR SHOW - Saskatoon's ONLY Local News, Music, Gaming and Entertainment Podcast - Ep 103 thumbnail
YOUR SHOW - Saskatoon's ONLY Local News, Music, Gaming and Entertainment Podcast - Ep 103

Category: People & Blogs

[music] la [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] [music] a [music] [music] [music] [music]... Read more

Officials urge boating safety for Memorial Day weekend thumbnail
Officials urge boating safety for Memorial Day weekend

Category: News & Politics

Going to be a great weekend and officials say they want everyone to be able to enjoy it safely, and there are efforts already underway to make sure that that's happen. the unofficial start of summer is here, and that means people will be flocking to connecticut shoreline that it's going to be a busy... Read more

Andy Reid reacts to Chiefs victory on opening night thumbnail
Andy Reid reacts to Chiefs victory on opening night

Category: News & Politics

To harvest. all right. certainly an exciting game tonight. head coach andy reid is at the podium. let's listen in 95, being one of them. um, mcduffy again. big fourth down. stop. leo was all over the place. we had him spying on the quarterback, and that's a challenge in itself. he's. he's really a good... Read more

Mega Millions Winning Numbers - 9/3/2024 thumbnail
Mega Millions Winning Numbers - 9/3/2024

Category: News & Politics

Biertempfel. well, the numbers are in for tonight's mega millions drawing, which is estimated to be $681 million. that's right. so if you play, we'll say what we say a lot with these stories. get your tickets out, because we actually have the winning numbers for you. so they are. 1241 43, 5255 and the... Read more

Winterhawks welcome 15-year-old goalie Morgan Stickney thumbnail
Winterhawks welcome 15-year-old goalie Morgan Stickney

Category: News & Politics

Morgan stickney is no stranger to proving herself on the ice after picking up goalie pads at the age of five to compete against her older brothers. the 15 year old is now out to prove she belongs in the rink with some of the best young talent in the sport. i just like being in the whl would be excited... Read more

Terry Pegula's opening statement on hiring Lindy Ruff as Sabres new coach thumbnail
Terry Pegula's opening statement on hiring Lindy Ruff as Sabres new coach

Category: News & Politics

First thing i'd like to do is uh thank donnie granado jason christie and matt smith for their tenure with the sabers uh donnie told me i'm sorry that i let you kevin our fans and our players down that goes to show you what kind of guy donnie is uh he has left the sabers in a better place and we appreciate... Read more

Watch: Gov. Landry issues 'statewide declaration of emergency' thumbnail
Watch: Gov. Landry issues 'statewide declaration of emergency'

Category: News & Politics

Governor. just to let everyone know we've been tracking tropical storm francine for the last week and a half. right now. it is tropical storm francine. we do anticipate that it will go to category one hurricane francine by tomorrow at around 7 p.m. we also anticipate that at landfall based on the information... Read more