Earlier this month, a “Rex Martin” texted an older couple pretending to be Apple.
The account was supposedly locked, and he provided a phone number for assistance, (603) 704-1863. The man managed to secure the couple’s banking information and identities while saying he was a customer service representative.
A 73-year-old man and 80-year-old woman – both Montezuma County residents – must now rebuild their finances. Sheriff Steve Nowlin wrote in the incident report that the suspect obtained their driver’s license numbers, Social Security numbers and other personal information and made several withdrawals from their banks.
According to the report, the local bank recovered much of the stolen cash from three targeted bank accounts. The total loss remains unknown.
A bill moving through the Colorado Legislature aims to better protect older residents and vulnerable populations from scams and fraud. House Bill 26-1110 would give authority to qualified employees at banks or credit unions to notify law enforcement or an eligible third-party person when fraud is suspected.
The FBI released its annual cybercrime numbers, finding a 26% increase in online scams since 2024 that are growing more sophisticated and costly. About $20.8 billion was reported lost to cyber fraud, including fake business investments, phishing, extortion, personal or company data breaches, tech support scams and identity theft.
The report also highlights claims filed by Americans 60 and older, who reported $7.7 billion in losses from scams, a 59% increase from 2024. The highest losses were tied to scams involving cryptocurrency.
It also noted a rise in tech support scams and account takeover schemes, where sometimes 50 or more transactions are processed through ACH, or Automated Clearing House, transfers between banks and credit unions.
The bill defines older adults as 70 and older and includes people 18 and older who are considered at risk because of harm or neglect or who are unable to meet their basic needs.
The bill would also allow financial institutions to delay an account withdrawal when exploitation is suspected, though it requires the bank to provide written notice. A delay would continue until the bank or employee determines the person is not being scammed, law enforcement investigates, or a court orders the release of funds.
The bill is sponsored by Sens. Jessie Danielson of Wheat Ridge and Marc Catlin of Montrose and Reps. Sean Camacho of Denver and Jamie Jackson of Aurora, all Democrats.
In 2025, lawmakers passed a law imposing stricter measures on virtual cryptocurrency kiosks to protect older adults. The law requires specific disclosures, online receipts and limits new customers to transactions of $2,000 per day.
The FBI’s Internet Crime Complaint Center, focused on cybercrime data collection, has a portal to file a complaint. The website includes information on protecting yourself, family and workplace.
According to the FBI, time is extremely important in these cases. The FBI advises reporting fraud and calling financial institutions immediately to recall funds along with any having necessary documents handy to facilitate the process.
awatson@the-journal.com
