EVANSVILLE, Ind. (WEHT) – The Evansville Police Department is hoping a recent ordinance passed by City Council will crack down on scams from crypto currency ATMs. The ordinance requires Bitcoin ATM kiosk operators to display signage warning of potential scams, provide the user with a physical receipt, maintain a visible customer support line and maintain a dedicated line of communication for law enforcement. A violation of the ordinance can cost up to $500.
Evansville police say there are roughly 70 crypto ATMs in the city, usually located in convenience stores. Police say in the past 12 months, residents have been scammed out of a total of $400,000. Scammers are largely targeting the elderly, advising them to convert cash to virtual currency, which ends up in the hands of scammers overseas.
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Sgt. Nathan VanCleave with EPD’s Financial Crimes Unit says many of the kiosks charge between 10% to 50% in fees. He says the number of cases in Evansville has nearly doubled every year for the past four years.
“The scammer will have convinced them through a variety of different rouses and stories that they need to send money,” explains Sgt. VanCleave. “They get them to the Bitcoin ATM and the scammer has already set up an account for them, and then they just start putting money in, hundred after a hundred, and $10,000 or $20,0000 later, the money’s all gone, and there’s no way to get that money back.”
VanCleave says anyone who may have fallen victim to a Bitcoin ATM scam should contact the Evansville Police Department.
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