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Fort Myers Officials Crack Down On Rising Crypto ATM Scams On Seniors
HomeNews* Fort Myers officials are taking steps to address a rise in cryptocurrency Scams using crypto ATMs, with seniors being the primary targets.
“It’s so easy to confuse them for a typical ATM machine,” Bonk said, adding that victims are sometimes tricked into putting in tens of thousands of dollars, not realizing that crypto transfers are generally irreversible.
Fort Myers Police Chief Jason Fields reported an increase in scam investigations related to crypto ATMs. He explained that scammers often target seniors by sending deceptive text messages. These messages sometimes claim that there is a warrant for the recipient’s arrest, an unpaid court fine, or a missed toll. The victims are then instructed to use a cryptocurrency ATM to resolve their supposed issue, resulting in financial losses.
Bonk stated that current laws have not adequately adapted to combat this new type of fraud. She noted that the city might consider stricter regulations on crypto ATMs, or at minimum, expand public education efforts to make residents aware of the risks.
The nonprofit AARP has joined the initiative, supporting state legislation that would regulate cryptocurrency kiosks. Since January 2024, they have helped introduce bills in eight states. These proposals include measures such as daily transaction limits, requirements for state operator licenses, mandatory scam warnings, and options for refunds in cases of fraud. The goal is to offer older adults wider protection when using crypto ATMs.
Officials emphasize that raising awareness and implementing proactive safety steps are essential to prevent future losses in the community. The efforts remain focused on protecting financial well-being, especially among vulnerable populations like seniors.