New Hawaii law banning cryptocurrency ATM deposits to take effect Oct. 1

Hawaii Banking Commissioner Dwight Young says the machines have become a favorite tool for criminals because they’re anonymous and hard to trace.

“It usually starts with some unsolicited phone call, text message or email,” Young said. “They’ll say your bank account is compromised, or you missed jury duty and then they’ll get you to withdraw cash from your bank and put it into these ATMs.”

Scammers will often stay on the phone with victims the entire time, from the bank withdrawal to the moment the cash goes into the machine. And once it’s in, it’s gone.

Store employees who work near these kiosks tell the state Department of Commerce and Consumer Affairs that most people using them are kupuna who look panicked, scared or worried.

“There’s never a positive emotion from these people,” Young said.

If you’re asked to buy cryptocurrency by someone claiming to be a government agency, don’t engage.

“If you do, slow down, take a breath, verify everything,” Young advises. “Don’t use the phone number they give you. Look up the bank’s phone number, call the bank and verify.”

Young also says don’t be afraid to talk to family members. Scammers count on isolation and politeness to keep victims from asking for help.

If you think you’ve been targeted, Young says to report the incident to police and DCCA at 844-808-3222 or cca.hawaii.gov.