News and articles
Back to News & ArticlesSpotlight on cryptocurrency
While many people invest genuinely in a safe and secure manner in the crypto market, unfortunately those who lack the technological knowledge combined with a high-risk appetite, can often find themselves the victim of a scam.
What you need to know
Crypto is a private investment and it’s an area which criminals are infiltrating, posing as genuine crypto experts.
These individuals are skilled at convincing people they are the real deal. They rely on a lack of knowledge and interest in making a quick dollar. They will often masquerade as investment managers, financial advisors or crypto trading experts. However, beneath this mask is a criminal.
Tactics they use include:
Showing you the (fabricated) returns of their other clients.
Use highly realistic fake trading software and crypto wallets.
Coaching you on what to say to your bank when transferring money.
Patience and willingness to keep victims engaged for months even years, may even send back some ‘returns’ to keep the carrot dangling.
They are clever, well-spoken and believable.
By using these tactics, they are able to convince their victims that their crypto is safe, in their possession and making returns. This keeps victims engaged and willing to investment more funds into the scam.