They say age comes with wisdom, but apparently scammers think it also comes with a $30,000 withdrawal slip.
Police in Colonie, New York, say an alert credit union employee helped stop an elder fraud attempt that could have cost a senior citizen tens of thousands of dollars. The case ended with two suspects in custody, one officer injured during the arrest, and yet another reminder of how aggressively scammers are targeting older Americans.
In short: Criminals convinced an elderly man to head to his bank and try to withdraw $30,000 for a supposed construction project — all while they guided him over the phone. Thanks to a suspicious bank worker, police intervened before the money changed hands.
How it works
Scammers often contact seniors by phone, pretending to be contractors, government officials, or even relatives. They pressure the victim to withdraw large sums of money quickly, sometimes under the pretense of paying for urgent repairs, avoiding legal trouble, or securing a prize. The victim is told to hand the cash over to someone who will “pick it up” or transfer it elsewhere.
Who’s targeted
Older adults are the prime targets because they are often more trusting, have access to retirement savings, and may be less familiar with modern scam tactics. Criminals prey on isolation and fear, using urgency to silence doubt.
Real-life example
In this case, Colonie Police arrested Huifeng Jin (43) and Qinghua Wang (34), both from Queens. Police say Jin resisted arrest and assaulted an officer during the takedown, while Wang was charged with grand larceny and released on probation. Authorities noted this was the second $30,000 elder fraud attempt in New York in just one week. Earlier this month, federal charges were filed against eight people accused of defrauding dozens of seniors out of more than $11 million through romance scams and identity theft.
Why you should care
These scams don’t just drain bank accounts — they rob victims of their dignity, trust, and peace of mind. Families may not realize what’s happening until it’s too late. And as scams get more complex, even the savviest seniors can get caught off guard.
How to protect yourself (and loved ones)
- Talk to older family members about scam tactics and remind them to be cautious with unsolicited phone calls.
- Encourage seniors to pause before withdrawing large sums of money or making unusual payments.
- Verify requests. A quick call to a trusted family member or financial institution can expose a scam.
- Remind them: never share personal information or banking details over the phone.
- Banks and credit unions: train staff to recognize red flags, just like the worker who stopped this fraud.
Quick Tips & Updates
Quick Tip #1: Did you know? The FBI estimates seniors lose over $3 billion annually to scams, with phone-based fraud at the top of the list.
Quick Tip #2: Pro Tip: Add yourself or your loved ones to the National Do Not Call Registry — it won’t block all scams, but it cuts down on legitimate telemarketing calls, making fraud calls easier to spot.
Stay safe, stay informed.
Keywords & Definitions
- Elder fraud: Scams that specifically target older adults, often through phone calls, email, or mail.
- Grand larceny: A serious theft crime involving large amounts of money or valuable property (amounts vary by state law).
- Probation: A court-ordered period where an offender remains in the community under supervision instead of serving jail time.
- Identity theft: A crime where someone uses another person’s personal information (like Social Security numbers or bank details) without permission to commit fraud.
- Romance scam: A scheme where criminals pose as love interests to gain trust and trick victims into sending money.
- National Do Not Call Registry: A U.S. service that allows people to opt out of receiving telemarketing calls, though it does not stop illegal scam calls.
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