TERRE HAUTE, Ind. (WTWO/WAWV) — Senior fraud is a growing problem in the Wabash Valley. Savvy scammers are swindling seniors, sometimes out of their life savings.
In 2024, the Federal Bureau of Investigation reported that more than $16 billion was lost to scams, with the majority of victims being seniors.
However, there is some good news. The State of Indiana has joined forces with local police to shut down one of the biggest scams targeting Wabash Valley seniors.
In her latest special report, WTWO’s Patrece Dayton teaches us more about this “crypto con” and shows how the State of Indiana and local police have teamed up to cut down on the problem.
Terre Haute Police Department Detective Jim Richardson spends most of his day on the phone or computer, filing subpoenas and talking to local seniors who have been scammed out of their hard-earned money.
“Anyone with internet connection, cell phone and means to funds can be a potential victim, but your seniors are far and beyond the largest age group,” said Richardson.
Richardson and the entire white collar crimes division are trying to arm area seniors with education. They’re putting on scam seminars to get the word out to seniors like Karen and Jan.
Both women wanted to keep their full names private for security reasons. However, they’re quick to tell you they are fed up and frustrated.
“We worked to get here, ya know, and we don’t want things taken away from us by illegal, ya know, people doing illegal stuff,” said Jan.
“Retirement, you thought, was going to be easy,” said Karen. “Now, you gotta fight all these scams and hackers. You don’t know what’s real and what’s not.”
One new scam involving cryptocurrency machines has become especially devastating in the Wabash Valley.
Local seniors are being scared by elaborate lies from scam callers, text messages or emails, urging seniors to withdraw thousands of dollars from their bank accounts.
They are then told to go to the nearest convenience store and deposit cash into Bitcoin ATM machines.
Currently, there are 30 Bitcoin ATM machines throughout Vigo County. The Terre Haute Police Department said in 2024, fraud losses to these crypto kiosks totaled more than half a million dollars.
“These are tied to money laundering, these are tied to overseas criminal enterprises,” said Terre Haute Police Department Sgt. Mark Minnick.
The good news is that local police have stepped up with the State of Indiana to put the fire out of scams like this.
Just last month, Indiana Governor Mike Braun signed new legislation making all virtual currency kiosks illegal.
“Our job now is to educate everybody who has one of these machines in their stores that they are now illegal,” said Sgt. Minnick.
A manager of a local store with one of these kiosks told WTWO, “There are so many people who lost thousands of dollars to those machines. Honey, I wasn’t happy when they put them in!”
Since the legislation was signed, local law enforcement has begun tracking down convenience stores with a Bitcoin ATM. Their goal is to get all 30 kiosks in the area removed.
Law enforcement has begun issuing stores written notices from the Indiana Attorney General stating they will be fined if the kiosks aren’t shut down. Putting scams on a pause, for now.
“Unfortunately, they’re going to find other ways to get their money, to get your money, but this is one tool that they’re not going to get to use in Indiana or Vigo County,” said Sgt. Minnick.
Despite this win, detectives will continue to educate local seniors about all scams. They will work to protect perhaps the most vulnerable population from giving up their life savings.
“Nothing is like it used to be. You just can’t trust people like you used to,” said Karen.
“Leave us alone, ya know,” said Jan. “Some of these seniors don’t get very much social security, ya know, and to have it taken away so easily, it just hurts!”
Unfortunately, new scams are coming down the road and police say there always will be.
To stay safe from scams, you need to arm yourself and those around you with education and conversation.
If you would like to attend a scam seminar or if your group or organization would like a scam talk, call the Terre Haute Police Department.
If you have been scammed, go to the Internet Crimes Complaint Center to file a complaint. You can do so by clicking this link.
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