DUNCAN — Bitcoin, AI, social media and even romance are all being weaponized to separate senior residents from their money.
That was the message from Attorney General Kris Mayes during an Elder Town Hall at the Duncan Senior Center Tuesday afternoon.
Mayes said Arizona has 289 victims of scams per 100,000 senior population, the highest in the nation, and scammers are using a number of tactics, including claiming the seniors have won a sweepstakes, soliciting for donations to a fake charity, or are being fined for missing jury duty.
One of the fastest growing is the romance scam, where the scammer reaches out to a single senior through social media — typically Facebook, she said — and establishes a “relationship.”
Then the scammer asks for monetary help, typically through hard-to-trace or untraceable means, such as sending gift cards, wire transfers, sending cash or by depositing cash into a Bitcoin ATM, which Mayes called “fraud machines.”
She said her office was contacted by a family that said their senior member lost $300,000 to the romance scam, while another said they couldn’t stop their father from sending money, even though he already lost more than $400,000.
Since the scammers are typically overseas, she said she’s working on a way to hold responsible the social media platforms, as well as telecom companies.
“I think that there is a possible avenue, just using Arizona state law and the Arizona Consumer Fraud Act, to go after social media companies and telecom companies that are just turning a blind eye to this fraud against our seniors,” Mayes said. “They have a responsibility and, the thing is, they have the money. They have the deep pockets that they could reach into and do more. There’s just no excuse for it.”
Mayes added that she’s also talking with other states’ Attorneys General on the issue and protecting seniors is a bi-partisan issue.
– David Bell Photo/Gila Valley Central
She talked about artificial intelligence being used to mimic the voice of a senior’s relative, claiming to be kidnapped for ransom, a scam that was tried on an attorney in her office, and the equity stripping scam.
Equity stripping is when a homeowner is either near or in foreclosure, and a scammer approaches the homeowner about helping them avoid losing their home. They have the homeowner sign documents claiming to help, but actually transfer ownership to the scammer.
She said state law allows homeowners to register their homes with their County Recorder’s Office, to be notified if there are any changes to the home’s deed.
Mayes said families should watch for the warning signs a senior family member may be scammed, including:
- Unexplained changes in behavior or mood
- Increased secrecy
- Missing bills
- Unusual bank withdrawals
- Changes in spending habits
- Making unusual purchases
“Make sure you use secure passwords, monitor your bank accounts, and never give your personal information over the phone,” Mayes said.
– David Bell Photo/Gila Valley Central
