The Boston Police Department is alerting older residents about various scams targeting them, along with tips on how to avoid falling victim.
Police have noted that scammers are specifically preying on elderly Bay Staters through various tactics aimed at extracting their savings, ranging from traditional home improvement fraud to modern schemes focused on cryptocurrency.
Significant Cryptocurrency Losses
As the popularity of digital currencies rises, Boston residents have suffered considerable financial losses, with over $9 million lost to cryptocurrency scams alone in 2024, according to the BPD. The department warns that these losses may escalate even further in 2025 as scams become more complex and widespread.
Older adults are cautioned to stay alert for investment scams and any pressure to purchase cryptocurrency using Bitcoin ATMs or similar kiosks. This issue often manifests when seniors are contacted via social media or dating apps with enticing offers of low-risk, high-reward investments. In other instances, they may receive phone calls about fake investment opportunities, where they are pressured to remain on the line and given instructions on how to invest using cryptocurrency.
Fraudulent Contractors
The police have reported incidents of residents losing thousands to scams perpetrated by “international travelers” who falsely claim to offer construction services but do not complete any work. These scams usually commence with a minor repair offer and can escalate to costly “emergency” repairs.
Scammers often go door-to-door, distributing generic flyers, and sometimes claim to use leftover materials from other jobs. They employ high-pressure sales tactics to convince older adults to hire them, often becoming intimidating once they commence work.
Increasing Imposter Scams
According to the Federal Trade Commission, reports of imposter scams where elderly victims lose $10,000 or more have surged by 400% since 2020. This type of scam involves criminals posing as trusted figures—such as banks, relatives, or police—to coerce victims into sending cash or gold or transferring money into cryptocurrency due to a fabricated emergency.
Victims might be misled into believing there’s suspicious activity on their accounts or that they are implicated in a crime. Police emphasize that no legitimate organization would demand cash payments to a courier or seek cryptocurrency payments. If a call seems suspicious, it’s advisable to hang up and contact the known number of the agency involved.
Risks of Being a Money Mule
The Boston Police also warn that criminals are manipulating older individuals into acting as money mules—unwittingly moving money for criminal activities. This money often originates from drug offenses, human trafficking, or other illegal enterprises.
Seniors may be recruited through online job postings, investment schemes, social media, prize scams, or dating apps. Police caution, “If you find yourself transferring money for someone else, you could be acting as a money mule.”
If you suspect being involved in such a scheme, it’s crucial to cease all communication with the scammers, refrain from transferring any money, alert your bank, and report the situation to the FBI at www.ic3.gov.
