Wisconsin Rapids Police warn of spike in elder scams

WISCONSIN RAPIDS – Police are sounding the alarm on a growing wave of scams targeting older residents in Wisconsin Rapids, where some victims have lost tens of thousands of dollars to fraud.
Investigators say the schemes often begin with unsolicited phone calls, emails or text messages. Scammers pose as government officials, banks or major companies and claim a victim’s accounts are at risk. Victims are then pressured to move their money into so-called “secure” accounts, often through cryptocurrency wallets or gift cards.
In one recent case, $600,000 from a local resident was quickly converted into Bitcoin and routed overseas, according to police. Another victim deposited $30,000 into a Bitcoin ATM at a Wisconsin Rapids gas station, while a third handed $14,000 in cash directly to a scammer.
Authorities say older residents are most at risk because fraudsters exploit fear and confusion over technology. The scams are also difficult to investigate since many originate outside the United States and involve fast-moving cryptocurrency transfers that are nearly impossible to trace.
Officials are urging residents to remember that government agencies and legitimate businesses will never demand payment in Bitcoin, gift cards or cash delivered by mail. Anyone contacted with such demands should stop, verify the request through trusted sources, and call law enforcement before sending money.
To read the full document released by Police Chief Daniel Hostens, visit www.wirapids.gov/DocumentCenter/View/1947/Recent-Scams.
To view a PDF of helpful tips, visit www.wirapids.gov/DocumentCenter/View/1952/Flyer---Elder-Scams.