HARRISBURG, Pa., May 1, 2024
/PRNewswire/ -- AARP Pennsylvania
is elevating its efforts to educate its members and the public
about the escalating threats posed by cryptocurrency
scams. With the digital currency market expanding, the potential
for profit has attracted not only investors but also a concerning
increase in fraudulent schemes.
Watch AARP Pennsylvania Fraud Watch Alert about
Cryptocurrency Scams on YouTube.
Mary Bach, AARP Pennsylvania
Volunteer and Chair of the Consumer Issues Task Force, emphasizes
the importance of vigilance. "Cryptocurrency can be
exciting and, indeed, profitable. However, the landscape is plagued
with investment scams posing as legitimate platforms. These
criminals promise substantial returns, but what they're really
doing is pilfering the hard-earned funds of unsuspecting
investors," said Bach.
Cryptocurrency scams can take various forms, from
investment platforms promising unrealistic returns to impersonators
of celebrities or investment managers. The Federal Trade Commission
(FTC) and the Federal Bureau of Investigation (FBI) have
highlighted the significant losses incurred by investors, urging
the public to exercise caution.
David Kalinoski, Associate State
Director of Outreach for AARP Pennsylvania, advises, "Before making
any investment, especially in the volatile crypto
market, you must conduct thorough research. Be wary of unsolicited
offers and high-pressure tactics, as these are red flags of
potential fraud."
AARP Pennsylvania provides
resources and information to help the community stay informed about
the risks associated with cryptocurrency investments.
Through education and awareness, the organization aims to protect
individuals from falling prey to these increasingly sophisticated
scams.
To protect yourself, engage in diligent research, understand the
speculative nature of crypto investments, and never
share your private keys with anyone. If you suspect you have been
targeted by a scam, report it immediately to the authorities.
You can sign up for free, biweekly Watchdog Alerts to have
information on the latest scams delivered right to your phone. Text
FWN to 50757.
Report scams to local law enforcement. For help from AARP,
call 1-877-908-3360 or visit the AARP Pennsylvania
Fraud Resource Page at
aarp.org/pafraud.
About AARP
AARP is the nation's largest nonprofit, nonpartisan
organization dedicated to empowering people 50 and older to choose
how they live as they age. With a nationwide presence and nearly 38
million members, AARP strengthens communities and advocates for
what matters most to families: health security, financial stability
and personal fulfillment. AARP also produces the nation's largest
circulation publications: AARP The Magazine and AARP Bulletin. To
learn more,
visit www.aarp.org, www.aarp.org/espanol or follow
@AARP, @AARPenEspanol and @AARPadvocates, @AliadosAdelante on
social media.
MEDIA CONTACT:
TJ Thiessen | tthiessen@aarp.org |
717-381-7420
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SOURCE AARP Pennsylvania