At some point in everyone’s life, they’ve heard the adage, “If something seems too good to be true, it probably is.” Over time, criminals find ingenious ways to take over the trust of community members, taking their life savings, threatening their trust, and even setting the victims themselves up for possible criminal charges. Stanley M. Meador, Special Agent in Charge of the FBI’s Richmond Field Office, Wants to Alert Members of the Commonwealth of a Relatively New Fraud Scheme That Has Received Little Attention But Could Have a Big Impact With Little Recourse to Unsuspecting Victims Cryptocurrency Investment fraud schemes, which are more commonly referred to as “slaughter pigs”.
Cryptocurrency investment scam schemes are usually initiated when scammers contact victims on social media or dating app sites, portraying some kind of “innocent” contact when in reality it is a heavily scripted and calculated initial step for many to build a relationship and gain trust. Eventually, these conversations lead to discussions about investment opportunities, whereby victims are lured into investing cryptocurrency funds using fake websites/apps that allow them to track the progress of their investments. The scam becomes apparent when victims attempt to cash out their investment, or when contact with the scammer ends. Unlike more well-known scam schemes such as Business Email Settlement, Ransomware, Elder Fraud, Holiday and Romance Scams, where if some financial loss recovery is quickly reported, victims of cryptocurrency investment fraud schemes need to be aware that they They will. Don’t see their losses recovered from cryptocurrency.
Be wary of these get rich schemes; Educate yourself and stop scammers from fattening their pockets with your hard-earned cash, or using you as a financial mule to help launder money within their criminal enterprises. Learn about other common scams and crimes, including white-collar and cyberattacks, on the FBI webpage.
The FBI has suggestions for recognizing and preventing victimization from fraud schemes:
- Keep an eye out for domain names impersonating legitimate financial institutions, especially cryptocurrency exchanges; Or those that may have misspellings or slight differences in URLs from actual financial institutions.
- Unless you can verify their legitimacy, refrain from downloading or using suspicious apps as investment tools.
- Before buying a digital currency or making investments, research what is being offered and who is providing it. The Securities and Exchange Commission provides investment guidance and tools.
- Be wary of online retailers offering heavily discounted items, and retailers that require payment with gift cards.
- Do not reply to or click on links in unsolicited emails.
- Secure credit cards and rewards accounts with strong passphrases. Change passwords and check credit and bank accounts routinely.
- Make a business inquiry about online retailers with the Better Business Bureau.
If you believe you have been a victim of a cryptocurrency investment fraud or other fraud scheme, please file a report ASAP with the FBI’s Internet Crime Complaint Center (www.IC3.gov), your local FBI office, and your local FBI office. Financial institution.
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