Crypto Scams are a global issue

[OrangeSeller]

Now that crypto is allowing us to transact globally I am questioning if we are going  to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

It may and may not be a big issue, it will be a big issue in the sense that when it is becoming a global scam and the government still being adamant in buying into its adoption, it may get out of their control, but I know that a time will come if it really becomes a big threat to the government, they will have no choice but to regulate it.

This crypto scam of a thing going on is really not a favorable one because it does favor us the users in anyway, if government regulates it, it will be more like also operating on a centralized system we have always been, just that their control would not be as much as it is in a centralized system.

[nur rochid]

Now that crypto is allowing us to transact globally I am questioning if we are going  to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

It may and may not be a big issue, it will be a big issue in the sense that when it is becoming a global scam and the government still being adamant in buying into its adoption, it may get out of their control, but I know that a time will come if it really becomes a big threat to the government, they will have no choice but to regulate it.

This crypto scam of a thing going on is really not a favorable one because it does favor us the users in anyway, if government regulates it, it will be more like also operating on a centralized system we have always been, just that their control would not be as much as it is in a centralized system.

of course government policy must be based on a decentralized system, and the rules made provide policies for cryptocurrency to develop. therefore this is what makes the government still calculate it

[coin-investor]

Now that crypto is allowing us to transact globally I am questioning if we are going  to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

There will always an attempt to scam people using or by cryptocurrency because this is a multi-million dollar industry, and scammers are fully equipt and they are professional enough to make their project looks legit and in compliance with existing laws, so we need some form of regulation, but will not undermine, the cryptocurrency decentralization.

[sirohige]

Now that crypto is allowing us to transact globally I am questioning if we are going  to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

There will always an attempt to scam people using or by cryptocurrency because this is a multi-million dollar industry, and scammers are fully equipt and they are professional enough to make their project looks legit and in compliance with existing laws, so we need some form of regulation, but will not undermine, the cryptocurrency decentralization.

imagine from the beginning of 2018 there were many scam cases that occurred and now the CEOs or founders of the project are still free to roam wherever he wants without clear rules, the perpetrators of the thieves or the scamer should get criminal penalties and there must be regulations clear.

[Oceat]

Scammers are everywhere no matter what we people or the government do when some people need money they always make plans for doing the easy way to make money. And for those people who get easily scammed, it's either a charge for your experience or you never learn anything before. It is easy to spot a scammer if you know how they think although lots of people don't know this that's why they get scammed easily.

[Ucy]

I believe scams can be dealt with without centralized system or authority but rather with decentralized anti-scam measures.
 I wouldn't care too much if the regulators go after the centralized cryptocurrency platforms though. They are not very transparent and can be easily abused.

[noormcs5]

Scam is a global issue even before crypto, I think some is just saying that crypto is all scam since it's done in the internet. And as we all know scam normally happened using the internet thus, most people think it's scam. I think whether it's crypto or not, scam is inevitable because scammers just can't get off their hands to easy money.

Scammer did scams with fiat and bank accounts etc and now they are scamming crypto also. Everything which has a value is subjected to be exploited by the scammers.  Saying that scam are only because of crypto is wrong.

I believe scams can be dealt with without centralized system or authority but rather with decentralized anti-scam measures.
 I wouldn't care too much if the regulators go after the centralized cryptocurrency platforms though. They are not very transparent and can be easily abused.

No matter we have centralized or decentralized systems, scammer and hackers are intelligent enough to scam us. It is our duty to take preventive measures and be alert.

[Oilacris]

Now that crypto is allowing us to transact globally I am questioning if we are going  to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

Scams already happening when crypto isn't born yet or just mentioning the traditional fiat system.It cant be stopped and these illegal things

do happen and crypto isn't excluded on such situation yet having anonymous and p2p tx would be the best recipe on making such transaction that's why its no doubt that it would be used up
but theres no need to elaborate.

[vhns222]

We always will have this problem maybe regulation will help but we can see how many forex traders scam users and we see one of them famous scammer Ironfx made exchange ironx which don't works normal and seems want repeat its history in crypto with new users so its very difficult always be informed about everything.

[okala]

We always will have this problem maybe regulation will help but we can see how many forex traders scam users and we see one of them famous scammer Ironfx made exchange ironx which don't works normal and seems want repeat its history in crypto with new users so its very difficult always be informed about everything.

I think information is the key word here because even regulation will not still solve the problem of scam 100% because even in the centralized financial system there are still cases of scams, so the only way out is to get good information about any project and business you want to get involved in to avoid being scam.

[senin]

Yes, cryptocurrency fraud has now become a serious global problem. It arose due to the fact that states are very slow to respond to the emergence of cryptocurrency and its regulation. In cryptocurrency now large sums of money are concentrated and this attracts fraudsters. Fraud has always been a criminal offense, but for so many years the government has been inactive with respect to cryptocurrency fraudsters. This is especially true for ICO projects. So far, only individual countries have prepared bills to regulate the activities of the ICO, but their adoption will take some time.

[Seeker#9]

This crypto scams might be the reason why some group of countries called G20 are planning to create a global regulation to prevent illegal use of cryptocurrencies. Cryptocurrency scams are still increasing around the world and these perpetrators are mosly using social media and other online mediums to victimize people. This global issue can be solve if all countries cooperates and create a common global stand to combat crypto scams.

[Janation]

Scam is a global issue even before crypto, I think some is just saying that crypto is all scam since it's done in the internet. And as we all know scam normally happened using the internet thus, most people think it's scam. I think whether it's crypto or not, scam is inevitable because scammers just can't get off their hands to easy money.

But these days, there are still differences.

Scamming money can be reported and police will find a way to track these scammers. On the other hand, if you're cryptocurrencies are scammed, if Bitcoin is not regulated in your country you will never find a way to get it back. You can report it to sites but you can't be helped by the government.

[goaldigger]

Now that crypto is allowing us to transact globally I am questioning if we are going  to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

Scams are there even when cryprocurrency is not yet existing in the market. It has been the problem not only in that but also in other aspects like banks and internet accounts. It has been the problem of the world and until now its not yet resolved because when the strongest security is made, the smartest scammer is born.

[coolcoinz]

This crypto scams might be the reason why some group of countries called G20 are planning to create a global regulation to prevent illegal use of cryptocurrencies. Cryptocurrency scams are still increasing around the world and these perpetrators are mosly using social media and other online mediums to victimize people. This global issue can be solve if all countries cooperates and create a common global stand to combat crypto scams.

Do you know what the biggest problem with letting them regulate crypto is? The sole definition of the word illegal. One day you'll hear they are trying to help you by limiting the illegal use, the other you'll find that you can't lift a finger without asking them for permission.
What is legal and what isn't? In fact this favies from country to country, from one legislator to another. Most people don't even know what is legal and what isn't as the rules can change every year. We all know the basics, but there's nothing really stopping them from saying that exchanging fiat to crypto on private platforms is illegal.

[Indamuck]

The same scams have been going on since the internet started.  Its true that scammers prefer crypto because people have no way to reverse the transaction but I don't believe there are more scammers because of crypto.

[BeGoods]

Scam is a global issue even before crypto, I think some is just saying that crypto is all scam since it's done in the internet. And as we all know scam normally happened using the internet thus, most people think it's scam. I think whether it's crypto or not, scam is inevitable because scammers just can't get off their hands to easy money.

Scammer did scams with fiat and bank accounts etc and now they are scamming crypto also. Everything which has a value is subjected to be exploited by the scammers.  Saying that scam are only because of crypto is wrong.

Scam is a problem for everyone, not just for cryptocurrency. You right, scam exists not only on cryptocurrency, but on any transaction that can be misused and exploited by a scammer. So stop to justify that crypto is a scam only because of the actions of some scammers

[mersal]

Yes in sometimes it will be like that because a person trust me something and invest a lots of amount in it but if it was scam then always trust and reduced so I think this is happening if it was a scam.

[Pagri]

Undoubtedly that will be a very sensitive issue to be addressed by the authorities and the crypto community in general, however the issue of crime and money laundering is not exclusive of cryptocurrencies, and in fact perhaps only a minimum proportion of illicit activities of the world are carried out through cryptocurrencies, because the cash is the most used, simple and affordable method for the commission of crimes.

Stop blaming the bitcoin for everything, this is just FUD.

[Pamadar]

The same scams have been going on since the internet started.  Its true that scammers prefer crypto because people have no way to reverse the transaction but I don't believe there are more scammers because of crypto.

If there's scammers is not because crypto is the best place for them, it's just so happened that they so wanted to take opportunities inside this market, as given equal opportunities scammers tend to take advantage of those services that Bitcoin provide to them.