UK financial watchdog warns users for coronavirus crypto scams

Friday 13 March 2020 11:02 CET | News

The United Kingdom’s Financial Conduct Authority (FCA) has advised investors to watch out for coronavirus-related crypto scams.

In a March 11, 2020 warning to the public, FCA, the UK’s top financial regulator, said scammers may attempt to take advantage of the fast-spiralling global pandemic. ‘These scams take many forms and could be about insurance policies, pensions transfers or high-return investment opportunities, including investments in crypto assets’ the FCA wrote.

The FCA warned of ‘too good to be true’ investments, particularly those in crypto. Fraudsters are also trying to exploit the coronavirus pandemic with phony pleas for Bitcoin donations to World Health Organization (WHO) and the Centers for Disease Control and Prevention, according to the City of London’s National Fraud Intelligence Bureau (NFIB).
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Keywords: FCA, crypto scams, Bitcoin, UK, coronavirus, covid-19, funds, inssurance
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: United Kingdom
This article is part of category

Blockchain & Cryptocurrencies