Tagged: scams

July 13, 2020 @ 9:49 pm By Omar Faridi  |  

Although the decentralized crypto-asset exchange (DEX) sector is still in its early stages of development, it can be argued that there are some platforms that are beginning to take the lead when it comes to the number of digital assets they’re supporting. Ethereum (ETH)-based Uniswap,… Read More

June 16, 2020 @ 11:21 am By JD Alois  |  

A new report claims that established banks Swedbank and SEB enabled “suspected fraud networks” to operate in the Baltics and mentions bankrupt peer to peer lending platform Envestio by name. Envestio, and similar platform Kuetzal, recently filed for bankruptcy in Estonia. Earlier this year, both… Read More

June 13, 2020 @ 10:39 am By Omar Faridi  |  

The US Federal Bureau of Investigations (FBI) has warned that there could be an increase in financial crime due to the rise of digital banking. The warning is a reminder from the FBI that mobile banking providers and financial institutions must protect their clients from… Read More

June 12, 2020 @ 7:33 am By Omar Faridi  |  

Estonia, one of the world’s most developed nations with an advanced, high-income economy that’s among the fastest-growing in the EU, is reportedly caught up in one of Europe’s largest-ever dirty-money scandals. Estonia has been quite active when it comes to encouraging the adoption of digital… Read More

June 2, 2020 @ 12:37 pm By JD Alois  |  

The cryptocurrency sector of finance has long been a hotbed for fraud, scams, hacks, and crimes. The relative anonymity (or perceived anonymity) along with the ability to seamlessly transfer value in seconds has been catnip for crooks. Industry participants have struggled in the ongoing cat… Read More

April 25, 2020 @ 6:53 pm By Omar Faridi  |  

Fintech Zopa, which offers online lending services in a fund based fashion, has warned that scammers have been taking advantage of the current situation. According to a report from Action Fraud, victim losses due to the fraudulent activity related to the Coronavirus (COVID-19) in March… Read More

April 21, 2020 @ 10:04 pm By JD Alois  |  

Ripple has been pushed to the edge, according to a blog post today. The crypto-firm is suing YouTube – part of Google. In a document filed in the US District Court, Northern District of California, Ripple Labs, and Bradley Garlinghouse, slammed YouTube for: “irreparable harm… Read More

April 15, 2020 @ 7:32 pm By JD Alois  |  

The Federal Bureau of Investigation is out with an ominous note predicting a rise in cryptocurrency-related scams fueled by the COVID-19 pandemic. The FBI expects that the bad guys will take advantage of the FUD to steal your money and then launder it through the… Read More

April 9, 2020 @ 4:00 pm By JD Alois  |  

Yesterday (April 8, 2020), the US Department of Homeland Security issued an alert – warning consumers about COVID-19 related scams. The joint statement actually included the Infrastructure Security Agency (CISA) and the United Kingdom’s National Cyber Security Centre (NCSC) due to the depth of the… Read More

March 19, 2020 @ 12:26 pm By JD Alois  |  

The Canadian Securities Administrators (CSA) is the latest regulatory group to caution against the rise in Coronavirus, or COVID-19, scams. Nefarious actors and fraudsters are always looking for another angle to fleece the unsuspecting. The advent of the COVID-19 pandemic is no different. The CSA… Read More

December 31, 2019 @ 11:58 am By JD Alois  |  

The internet has disrupted so many different industries mainly for the better. Fintech, or financial technology, is really the digitization of financial services that previously leaned in an analog direction, lending, trading & investing, payments, banking and more. While the benefits to consumers and business… Read More

May 4, 2019 @ 3:54 pm By JD Alois  |  

Cryptosecurity firm Ciphertrace has published their Q1 report tallying scams, frauds, and other nefarious acts in the crypto sector and the first three months of 2019 were productive ones for the bad guys. According to Ciphertrace, during the first three months of 2019, $1.2 billion… Read More

February 19, 2019 @ 6:43 pm By Cali Haan  |  

Netherlands-based payments news outlet The Paypers has published an interview with an unnamed investigator from the FBI (Federal Bureau of Investigation), America’s domestic intelligence and security agency, in which the agent suggested a direct correlation between the number of ERC-20 tokens in circulation and the number of… Read More

January 29, 2019 @ 10:37 am By JD Alois  |  

CipherTrace is out with a report on cryptocurrency scams and fraud. It is widely known that crypto suffers from rampant acts of theft and cons as these digital assets have become the targets of global criminals seeking an easy payday or simply to launder illicit… Read More

January 2, 2019 @ 7:18 am By Cali Haan  |  

A freedom-of-information request filed by The Sunday Telegraph shows that four-fifths of 49 companies investigated by the UK’s Financial Conduct Authority (FCA) resulted in warnings about those companies being issued to the public. A total of 67 investigations into crypto operations have been launched by the FCA. 18 investigations are… Read More

August 30, 2017 @ 9:19 am By JD Alois  |  

The Securities and Exchange Commission (SEC), office of Investor Education and Advocacy, is out with a note on the booming Initial Coin Offering market telling investors to beware. The ICO market has grown rapidly with estimates topping $2 billion in token sales this year alone…. Read More

October 18, 2015 @ 5:09 pm By JD Alois  |  

The US Department of Treasury, via its FinCen or Financial Crimes Enforcement Network, is ringing warning bells when it comes to rewards based crowdfunding. FinCen notes a rise in “suspicious activity reports” (SARs). In a report published this past week, FinCen spotlighted rewards based crowdfunding… Read More

February 27, 2015 @ 2:02 pm By Samantha Hurst  |  

As crowdfunding continues to gain more popularity, the Connecticut Better Business Bureau (BBB) has warned backers to be careful when it comes to funding projects. In an effort to avoid scams, the bureau stated on its website backers should do diligent research before helping fund a new… Read More

October 17, 2014 @ 2:45 pm By Samantha Hurst  |  

As consumers continue to search for the truth behind the deadly Ebola virus, including cures and projects dedicated to Texas nurses Amber Vinson and Nina Pham, the Better Business Bureau (BBB) has revealed that are more scams continuing to surface.  As previously reported, the city of… Read More

June 14, 2013 @ 3:35 pm By Charles Luzar  |  

The team behind the crowdfunding campaign for the Kickstarted documentary may have helped catch the largest Kickstarter fraud in history just in the nick of time, and literally quite by accident. Correction: Maybe not THE largest… The team explains in a recent blog post… A… Read More