Naperville, IL – Fraud Report: Naperville Hit by Over $700K in Cryptocurrency Scams

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Naperville, IL – The Naperville Police Department is alerting the community about a concerning wave of cryptocurrency scams that have resulted in residents losing over $700,000. 

According to Naperville Police reports; since February 29, there have been four separate reports of fraud, a sharp increase from the norm. Typically, the financial crimes unit of Naperville encounters only two to three such cases each month. The scams have varied in approach, including romance, hacker, arrest, and sextortion schemes, and have affected victims aged 45 to 83, none of whom had met the scammer in person.

Chief of Police Jason Arres underlined the sophisticated tactics employed by these fraudsters, stressing the importance of vigilance when engaging with unfamiliar individuals online. “These scammers are exceptionally persuasive, exploiting people’s emotions to their advantage,” Arres noted, advising caution in transactions with strangers.

In response to these incidents, the Federal Trade Commission (FTC) has offered guidance to help residents recognize and avoid scams, urging skepticism towards unexpected requests for personal or financial information and caution with payment methods frequently demanded by scammers.

Arres highlighted the difficulty of retrieving funds once converted to cryptocurrency and transferred, emphasizing the need for residents to resist demands for immediate payment through cryptocurrencies, wire transfers, or gift cards. 

Naperville Police encourages those who believe they have fallen victim to a scam or who suspect fraudulent activity to reach out to them at (630) 420-6665. Additional information on scam prevention is available on the FTC’s website.

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