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In our last post, we talked about scams that often target younger audiences. But fraudsters don’t stop there—they also know how to tailor their tactics to reach adults in their mid-30s through mid-60s. This age range, though wide, often faces similar scam attempts centered on the promise of quick wealth or “exclusive” opportunities.

The scam: Wouldn’t you know it—you could make a boatload of money if you invest in cryptocurrency! And better yet, I’m the guy who could make you that money!

This is the type of messaging a scammer would use to lure people toward “get rich quick” investments. Sound cheesy? How about this angle: “Attend our free investment seminar, become a member today!” Sounds reasonable, right? It’s free, after all. That is—it’s free to start.

After becoming a member and attending that free seminar, there’s an opportunity to invest with the “company.” For first-time investors, they won’t charge any fees. After a few times, however, the fees start to pile up and increase. There may even be a paid follow-up course to the free seminar you attended before. The types of investments might differ real estate, cryptocurrency, or something else. If you aren’t making money (many won’t), it’s because you supposedly haven’t received enough training yet—so buy the next course or seminar and you’ll have better results. Eventually, the fees and prices get so high that it isn’t worth doubling down again, and you’re out all the money.

How to avoid it: Many of these messages come from social media ads, direct social media messaging, or dating app conversations. If it sounds too good to be true, it likely is. There are better ways to invest your money (for legal reasons I won’t tell you which ways are better, but I can recommend visiting with a banker or financial advisor through the bank before you make any big investment decisions). Again, avoid investing money with someone you can’t verify or don’t know well.