Riverside County residents were warned Thursday to be alert to phone- and internet-based investment scams soliciting funds in cryptocurrency, which could lead to potentially large monetary losses for anyone who falls for the con.
The sheriff’s Temecula station has received multiple reports of people targeted by fraudsters, according to Sgt. Joe Narciso.
“The most recent incidents have scammed the victims out of tens of thousands of dollars,” he said. “Many of the scams involve the suspect convincing a victim to convert currency into cryptocurrency and send the (funds) elsewhere, which tends to lead out of the country.”
According to the sergeant, in other instances, scam artists “give the false belief that the victim is investing in a new cryptocurrency.”
“Once the money is sent outside the United States, it’s very difficult for investigators to track down and recover,” Narciso said.
Sheriff’s officials asked residents to take basic precautions to prevent being victimized, including the following:
— don’t provide personal identifying information over the phone to unknown parties;
— don’t respond to unsolicited emails requesting confirmation of personal details, including bank accounts;
— if a caller states he or she is with a law enforcement agency and has a warrant that requires payment to rescind, hang up and contact the law enforcement agency directly to confirm the warrant;
— if a caller claims to be with the IRS and is demanding payment for tax liabilities, hang up and contact the agency directly to confirm whether there are payments due;
— don’t send money when someone is claiming he or she is a relative in need unless the information can be verified through other family members; and
— never automatically trust a number or name that appears on caller ID, as it can be generated by anyone, virtually anywhere.
Narciso pointed out that no government agency will request payments via cryptocurrency.