Police Officer Helps Stop Scams in Real Time
A Law Enforcement officer shares how educating local businesses has helped him stop scams in real time, saving victims from financial crimes.
Adapted from a LinkedIn post by Brad Thorne, Financial Crimes Detective for City of Boise, Idaho.
Being part of the Crypto Coalition has both expanded my world and made it feel smaller. I can reach out to an expert in most U.S. states and in many countries. Thank you to these original trailblazers for having vision, passion, and creating the Coalition. If you are a law enforcement officer involved in Financial Crimes, you should reach out to join Operation Shamrock.
I want to echo — and illustrate — a point Detective Matt Hogan made about how vital relationships and collaboration are in this fight on the Stolen podcast with Erin West. (Scroll down to listen.)
Store Clerk Recognizes Signs of a Scam
Just yesterday, an 82-year-old man was at a gas station feeding $11,000 in cash into a Bitcoin Depot machine. Thanks to prior outreach that my colleague Ed Fritz and I had done, the clerk recognized the red flags, intervened, and called the Boise Police Department. The man had already deposited over $5,000 before the clerk intervened.
I got the call and ran the Bitcoin address through TRM Labs: It was unconfirmed.
I immediately contacted Bitcoin Depot’s law enforcement liaison, and they blocked the address. Because of relationships and quick coordination, this victim did not lose $11,000. It’s a small amount in the billions lost every year, but I can promise you it matters to that victim.
My next thought was, “How did the financial institution allow an elderly man to withdraw $11,000 in cash without asking questions?” 😡 A conversation with the victim’s bank took place. The answer was, they “just don’t.” That mindset has to change.
Bank Manager Helps Stop Scam in the Act
Not all banks are dropping the ball. Just last week, collaboration saved $40,000 at Mountain West Bank thanks to a branch manager who has made it her mission to protect her customers.
When I arrived, a 78-year-old victim was still on the phone with “Paul” — the scammer. I joined the call with the victim. Paul insisted he was a friend and that the victim was helping with a medical emergency. Hearing that lie flipped a switch for the victim: It was one thing to lie to the bank, but a new lie to a police officer? That engaged his critical thinking. You never know what piece of information will flip that switch, but it’s our job to figure that out through conversation.
I see daily proof that financial institutions do step up and make a difference. It’s a choice for those that don’t step up. Those that do are part of our white-collar coalition; they show me what can be done when people care.
And before the haters start in with “How could the victims ‘fall’ for this?” This man was smart. I learned a lot about the history of early Boise businesses because he was part of building downtown Boise. He’s in his late 70s, battling terminal illness, and he’s the sole caregiver for his sick wife. He was exhausted, emotionally worn down, and in a vulnerable state. I was overwhelmed hearing his daily life. That’s exactly when bad actors like “Paul” show up.
The blame lies 100% on the scammer.