If Someone says Hi, Say Nothing

By: Paul Greenwood, Ret. Deputy District Attorney & Head of Elder & Dependent Adult Abuse Prosecution Unit, San Diego County Attorney’s Office

It can start with a simple and innocuous text saying “Hi!”

But that initial greeting can impact a person’s life forever; and sometimes lead to tragedy.

The immediate reaction is to engage by texting back “I think you may have the wrong number.”

The stranger then apologizes for interrupting your day and schedule. Again, the polite response is to say that it really is no problem, with an expectation that the conversation will end.

But the stranger continues; words of gratitude for your understanding follow and then comes the hook. Gradually the anonymous texter is able to extract a little information from you and succeeds in engaging you in discussion.

The texter then shares enough information to raise your curiosity. This person lives in what would be considered to be an upmarket location in the United States. Their lifestyle triggers an immediate sense of envy, jealousy, or admiration. Your thoughts turn to questions: how has this person who appears to be young have accumulated wealth in such a short time?

Your desire for answers gets the better of you; what is your secret you ask? Your “new friend” is reluctant to give too much away; after all they owe everything to their uncle who introduced them to an amazing investment opportunity.

And now the fear of missing out overwhelms you. There is urgency in your texts. You want to know more.

Ultimately you are introduced to the world of crypto currency; and you are excited about the newly discovered opportunities to convert your conservative investments into quick profits.

This scenario has become all too common in the past three years. It appears that online predators have taken advantage of the fact that the crypto currency markets are still largely unregulated; investing in crypto has become more acceptable; and it is still challenging for law enforcement to follow the money once it is converted into this form of investment. Additionally, more and more crypto ATM machines are popping up in liquor stores, gas stations, and even in main line supermarkets. 

By the time that the victim discovers that this “get rich quick” scheme is fraudulent, the opportunity to recover funds is almost impossible – unless an immediate intervention is instigated within the first few hours of the transaction.

Too often the victim is engulfed in shock and embarrassment and is more inclined to stay silent – thus preventing any hope of a recovery of funds. And tragically some victims contemplate ending their life.

As we see the breathtaking advances of artificial intelligence into everyday life, we must expect that the professional fraudsters will leverage every angle to entice more victims to engage in conversation by text, establish a relationship, and then agree to convert their savings into the crypto currency investment world.

So, what can be done to push back against this crime that has often been called “pig butchering” or “financial grooming”?

Financial institutions such as banks, credit unions, and brokerages need to beef up their in-house trainings for front line staff. It is essential that the staff who have face to face contact with the customer or member who is seeking to withdraw funds must be made aware of how this crime works. Tellers need to be instructed on how to question someone who is making a withdrawal request that is inconsistent with their normal banking behavior. It is insufficient to ask general questions; the teller should get specific in their line of inquiry. For example, asking if someone is eavesdropping on the customer’s mobile phone conversation is appropriate. This is neither insensitive or rude; it is showing a responsible and caring attitude.

The same institutions should also consider displaying video and poster warnings about the dangers of investing in crypto currency especially with someone that has been introduced online. Seeing such a warning may allow a potential victim to pause and reflect before making a cash withdrawal. Warnings about human trafficking are in every major airport in this country. Financial institutions need to follow suit concerning online scammers.

And we must encourage every location where a crypto ATM machine is installed to place prominent signs urging caution before depositing cash.

If an adult child is concerned that their older parent may be at risk of becoming a victim, then a letter should be written to the parent’s financial institution requesting that a special eye be kept on the account and that if an unusual suspicious withdrawal request is made – that a report be made to Adult Protective Services immediately.

Moreover, we need to encourage more opportunities for federal, state and county law enforcement agencies to exchange intelligence in their fight against these professional thieves. We also have to understand that many of these crooks are operating as well-oiled criminal enterprises, often using human trafficking victims as their “employees” to fish for victims.

We used to use the slogan “If you see something say something.” Maybe it is time to launch a new catch phrase: “If someone says Hi, say nothing.”