This is more about how the scammer gets your money than an actual scam. Remember, these scams are not just about money but deception. They can take various forms, such as romance scams, investment opportunities, or even scams involving your loved one in trouble. The scammer will insist on payment through cryptocurrency, but remember, you have the power to verify before you pay, protecting yourself from their deceit.
The issue with cryptocurrency is that it makes it very difficult for law enforcement to track it. When law enforcement can see one account, the chances of the money being in another account are great, most likely multiple accounts. This makes it hard for law enforcement to track down the suspect(s), let alone recover the money.
It is important to realize two things. First, legitimate companies will always have multiple ways of payment. Think about it: if you go into a store, any store, you have multiple ways to buy an item. Nothing changes over the phone or through emails. Secondly, remember, seek another means if you are uncomfortable paying in that fashion. Only pay in ways you are comfortable with. If they press you on a particular payment, that is a “red flag” it might be a scam.
Make sure you implement some rules when dealing with your finances. For our safety tips, go to “safety tips” at https://dcsheriff.net/community/senior-safe/