Crypto Scams are a global issue

[Naughty Princess]

You do realize that scams are a global issue irrespective of whether it is related to crypto or not, don't you op? The thing that everybody needs to understand is that no matter what happens, scams will always happen.

However, these scams can decrease by a huge extent if we properly secure all of our assets in the best way possible.

I agree. We are responsible on our own asset. Do not believe on such good offer as you are not sure that it really worth, learn about it before you decide to participate or give an investment into it. Scam is globally issue and even offline, it happens. Different modus wherein we have to be aware of.

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[yvesp110]

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/

I do not think that this is a question that ordinary users can discuss on the forum.In my opinion these issues are handled by the FATF.And if You follow the situation in the world,they are aimed very seriously about cryptocurrencies.I'm sure soon the scammers will be much less.

Up gradation in the system every now and then is limiting the loopholes in the system and I think we would not have that much scammers around right now as we had a year ago. However, the attack on Binance exchange and the ICO scams have been the recent big example of how money was looted and how various ways are being defined by scammers to scam people.

[hahay]

Indeed, that is a big problem for this industry and it seems that the problem will continue to exist, but with the existing mass adoption, at least crypto scams can be minimized by continuing to increase the confidence of many people and of course investors about cryptocurrency.

[Jating]

Indeed, that is a big problem for this industry and it seems that the problem will continue to exist, but with the existing mass adoption, at least crypto scams can be minimized by continuing to increase the confidence of many people and of course investors about cryptocurrency.

On the contrary, if crypto will be mass adopted, the number of scammers will grow as well. And this is one reason why governments are really putting a hard line stance against crypto because no one can control it and scammers/cyber criminals are taking advantage of it.

So learn to educated ourselves so that we won't fall for the trick. I wouldn't say that I haven't been scammed, but if you have experienced it, I'm sure the next time you will be really careful of who you deal with in this crypto verse.

[Nellayar]

The scams in crypto is a great concern which needs to be tackled if we ever dream of seeing global mass adoption of cryptocurrencies. The reasons why most people don't trust using cryptocurrencies to make transactions is because of the numerous scams that surrounds it.

I agree because many people are being deprived by the scammers. Those people who want to become profitable and want to gain are being deceived by crypto scammers. They just use the people to gain money. I hope scammers will be jailed so that they will also regret to fool people and find a legal job which does not deprive the rights of the people.

[stadus]

The scams in crypto is a great concern which needs to be tackled if we ever dream of seeing global mass adoption of cryptocurrencies. The reasons why most people don't trust using cryptocurrencies to make transactions is because of the numerous scams that surrounds it.

I agree because many people are being deprived by the scammers. Those people who want to become profitable and want to gain are being deceived by crypto scammers. They just use the people to gain money. I hope scammers will be jailed so that they will also regret to fool people and find a legal job which does not deprive the rights of the people.

They understand the lax of regulation in the crypto market and that makes them continue their scam attempts, the solution is very simple, the governmnet just need to regulate the market and I'm sure it will prevent scams, not to totally eliminate, but to minimize the scams.

[Hallmader]

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/

No, I don't think so. Scams have always been present in our system, before, today, and in the future. Whether or not it is cryptocurrency that will become the main cryptocurrency or fiat currency will remain, such problems as scams and illegal trafficking will always be present. Compliance companies are required today as before. Government efforts to curb such problems will have to continue focusing on their jobs regardless of whether the currency used is fiat or crypto. 

[zee11225]

that's true because what makes many people go out or stop in the crypto world is the amount of fraud, so that it becomes a global problem that slows down the development of the crypto world because of these factors. yes, I hope that hopefully the crypto world champion will be extinct

The fraud problem which is a topic for eliminating crypto has been going on for a long time and continues to be repeated so that people are not interested in crypto. This issue happens everywhere.
But in reality it does not reduce the interest of people to participate in crypto trading, because the existing evidence shows that cryptocurrency is not a fraud and this fact is reinforced by the presence of Libra coin launched by Facebook.

[Ziskinberg]

Indeed, that is a big problem for this industry and it seems that the problem will continue to exist, but with the existing mass adoption, at least crypto scams can be minimized by continuing to increase the confidence of many people and of course investors about cryptocurrency.

In this case, it is worth adding that it was the mass adaptation of the popularized crypto market that naturally led, led to the magnitude of the scam due to the increased volume of money in the crypto market and the emergence of new methods of raising funds.

Mass adoption won't happen if scam rate is high, people are adopting in crypto when they have confident on the market and that market should be safe or less scam are happening. We know that only the government can minimize this scam with their law and therefore market has to be regulated first to expect a massive adoption.

[Plecet Bank]

Fraud makes many people suffer great losses. And I guess in any system there will certainly be a fraud. We should also always raise vigilance and do not rush to make decisions. Real regulation and cooperation with the Government in every country, I think can reduce fraud.

[Betwrong]

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They understand the lax of regulation in the crypto market and that makes them continue their scam attempts, the solution is very simple, the governmnet just need to regulate the market and I'm sure it will prevent scams, not to totally eliminate, but to minimize the scams.

Unfortunately, in reality the government is not some virtuous entity that abides all the laws and follows the Constitution. Much of the worst offenses is happening inside governments, and a big part of outside crimes is happening with their consent because they were bribed. If regulation is imposed by corrupt people, we can't expect it will be working as it's supposed to on paper, in other words, it will be corrupt too. That's why it is better to have as little government regulations as possible.

[bitbunnny]

Of course that crypto scams are a global issue, as well as cryptocurrencies are global phenomenon and are used all rover the world without boundaries.
Everywhere where fraudsters ansd criminals see the opportunity to make illegal gain they will take their chance. You can't avoid it and stop it completely but we could educate users more how to be more aware of scam possibility and how to protect themselves.
This is very important because even if you report that to police often evidence are hard to collect and prove so that might be of no help.

[kennen1113]

Of course that crypto scams are a global issue, as well as cryptocurrencies are global phenomenon and are used all rover the world without boundaries.
Everywhere where fraudsters ansd criminals see the opportunity to make illegal gain they will take their chance. You can't avoid it and stop it completely but we could educate users more how to be more aware of scam possibility and how to protect themselves.
This is very important because even if you report that to police often evidence are hard to collect and prove so that might be of no help.

Yeah, crypto is bringing in so many benefits and popularity, so the rate of fraud in crypto is also increasing over time when many scammers understand that this field is attracting a lot of investors who want to make money from money, and exactly as you say, this area contains too many factors to help scammers make money and escape government and police pursuit. Blocking is impossible when these scammers are too professional, what we can do is through fraud cases and useful information that many people share, protect our assets with many ways and multiple layers of security

[BennyK]

Every scam issue is of global interest and alerts are normally sent across to caution players in affected fields. The same thing is what we experience in crypto when there is an reported issue of scam. Investors and traders are frequently educated through all channels on how to avoid being victims to such scams although not all can be prevented.

[elisabetheva]

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/

Obviously crypto is starting to become a global reference for transactions, it is very necessary for companies that can supervise transactions so that there is no fraud. It may also be necessary to unite the perceptions between countries about crypto itself before stepping on a more technical basis. but in its principle, supervision is needed, so that not many experience fraud.

[Russlenat]

Every scam issue is of global interest and alerts are normally sent across to caution players in affected fields. The same thing is what we experience in crypto when there is an reported issue of scam. Investors and traders are frequently educated through all channels on how to avoid being victims to such scams although not all can be prevented.

That's normal in the space, crypto is called a high risk and therefore knowing that, they should know they have to be careful.
I admit that I also got scammed here at the beginning, but I easily move on because I didn't risk a lot, and now I can say that I'm educated enough.
It's sad but this crypto space we are now, people usually learn when they make mistakes as aggressive investors don't usually read more before investing.

[Rooster101]

People that lacks proper information on cryptocurrencies are the ones that are easy to scam and this happens globally where cryptocurrencies are available. Aside from money laundering and terrorism, every government that are member of a group of countries that crafting a global crypto regulation should also include crypto scamming as one of the crime to be resolved. Crypto scams has more vitcims and the target is the ordinary masses that uses cryptocurrencies.

[hotforblockchain]

Crypto is not the problem , there are ton of non crypto scams.
I was very surprised to hear that my friend invested 1000 Euros in some Dubai track company, this sounded funny from the start.
I took a quick look at them and immediately understood that his money is gone.

The morale of the story is that people are naive and dont know what to look for when investing.

[Naida_BR]

Fraud makes many people suffer great losses. And I guess in any system there will certainly be a fraud. We should also always raise vigilance and do not rush to make decisions. Real regulation and cooperation with the Government in every country, I think can reduce fraud.

Scams are everywhere and in bigger volume outside of the cryptocurrency industry.
The fact why it makes it noticeable in crypto is due to the advertising that it takes in the internet.
It is like everyone shouts about that and we are all informed about it, something that doesn't happen in the real world as many frauds and scams happen in the shadow.

[whyrqa-1]

I think that it is not for nothing that a negative wave has recently been rising regarding the cryptocurrency, which is raised by the governments of different countries, including President Trump and the Government of India.  Perhaps through control some problems can be solved to reduce the amount of fraud in the cryptocurrency market.