Senior Citizens Alerted to Fresh Bank Fraud Threat: Criminals Tactically Lifting Cards and Emptying Accounts

LONGISLAND SENIORS TARGETED BY BANK FRAUD SCAM

A new bank fraud scam has been making its rounds on Long Island, targeting senior citizens with sophisticated tactics.

At a press conference last week, Suffolk County Executive Ed Romaine warned of a group of con artists who have been posing as bank representatives to defraud the elderly. These scammers call victims and impersonate their banks, claiming that their accounts are under attack and their credit/debit cards are no longer functional. They then offer to pick up the cards from the victims, promising to destroy them, but instead, steal their money.

The Suffolk County Police Department acknowledges that scammers can spoof phone numbers to make their calls appear legitimate. To avoid falling victim, the department advises against answering calls from unknown numbers, especially if they ask for money or make demands. If a caller claims your bank account may be compromised, the department encourages residents to hang up and call the number on the back of their payment card. They should not provide any personal information, wire money, or send gift cards.

The police department stresses the importance of staying informed about scam prevention methods and attending educational seminars to avoid becoming a victim of such fraudulent activities.

To learn more about The Daily Hodl’s coverage of the future of finance, visit our categories section for articles on Bitcoin, Ethereum, trading, altcoins, Futuremash, Financeflux, NFTs, blockchain, regulators, and scams.

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In other industry news, Falcon Finance and HOT Wallet announced a partnership to provide scalable on-chain yield and USDf utility to retail users. Meanwhile, Cache Wallet began its token sale with early demand and an asset recovery breakthrough. Gomble Games launched the Gomble Builders platform, which allows users to create Web 3.0 games collaboratively. Flipster launched an APR Supercharge offering up to 122% yield on USDT, setting a competitive benchmark. The Venom Foundation achieved 150,000 transactions per second in a closed-network stress test, preparing for its upcoming 2025 Mainnet upgrade. XDC Network's XVC Tech announced an investment in the Laser Digital Carry Fund, also partnering with Libre to launch institutional fund infrastructure. Psy also developed the first trustless bridge from Dogecoin to Solana.

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In other news, a crypto strategist predicted breakout rallies to new all-time highs for Bitcoin (BTC). Arthur Hayes, the founder of BitMEX, stated that Bitcoin will go "much, much higher" as the U.S. government needs to borrow more money than anticipated. Meanwhile, Yardeni Research highlighted that the U.S. economy is "very resilient," with three factors contributing to the Federal Reserve's decision not to cut interest rates in 2025.

A man has also been charged with multiple counts in an alleged $350,000 check kiting scam that targeted U.S. banks.

Covering the future of finance, including macro, Bitcoin, Ethereum, crypto, and Web 3, The Daily Hodl keeps you up-to-date on the latest developments in the industry.

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The crypto market is thriving with partnerships and advancements, such as Falcon Finance and HOT Wallet's collaboration for scalable on-chain yield and USDf utility, and Cache Wallet launching its token sale with early demand.
Companies like Gomble Games and Flipster are also introducing new platforms and APR Supercharge offerings, aiming to set competitive benchmarks.
While the crypto industry is growing, it's essential to stay vigilant against scams like the check kiting scam that targeted U.S. banks, a reminder that even in the world of finance and technology, crime and justice continue to play a role.
Looking ahead, Bitcoin is predicted to experience breakout rallies to new all-time highs, reflecting the U.S. government's increased need to borrow money and the economy's overall resilience.