Police are always on high alert these days with scammers. (Photo by Don Bodger)

Bitcoin and cryptocurrency scams targeting the most vulnerable

Safely navigating a new type of gold rush frontier

North Cowichan/Duncan RCMP have received numerous reports of frauds relating to Bitcoin and Cryptocurrency during the last six weeks.

Scammers are targeting and victimizing vulnerable people. Losses of more than $64,000 have been reported to the North Cowichan/Duncan RCMP through various types of scams.

The family of one elderly scam victim want the public to be warned of similar scams so others won’t fall victim to the same thing. The scam includes a company getting in touch with the victim for an investment opportunity. The company asks their investors to provide notarized copies of their passport, a property value assessment, and all banking information. The company is pitched like a pyramid scheme with the opportunity to make more money if you can convince other people to join the investment.

In another instance, police report, someone fell victim to a fraudulent company on a Cryptocurrency Market trading platform. Over a period of four months, tens of thousands of dollars were wire transferred to an illegitimate company based out of South Africa. By the time the victim became aware they were being scammed, it was too late. Immediately after making their final “investment”, the Cryptocurrency they believed they were investing in plummeted and they lost their money.

The best way to fight these crimes is through awareness, police advise in a news release. Victims, or families of victims can contact the Canadian Anti-Fraud Centre with information.

The RCMP manages the CAFC. It is a repository for data, intelligence and resource material related to fraud. It can be helpful in assisting citizens, business, and law enforcement in Canada and around the world.

For more information on what to do if you are the victim of a scam, visit the Scams and Frauds page on the RCMP website. There is also information on warning signs if you believe a family member has fallen victim to a scam.

Just Posted

Mrs. Warren’s Profession a delightful comedic romp

Chemainus Theatre Festival did not disappoint with their production of Mrs. Warren’s Profession

Campground on the chopping block as ALC deadline looms

Owners fighting to continue facility’s operation, with a huge outpouring of support

Nanaimo-Ladysmith candidates try to chart a path to victory

Conservatives, NDP, Liberals set sights on votes needed to unseat Green incumbent

Comedians with a cause bring their charity fundraising tour to Ladysmith

Tickets are $15 and proceeds go toward Cowichan Cat Rescue

49ers AA Peewee coach Shawn Freer speaks on successful season

Throughout their regular season and tournament play, the 49ers lost only three games

VIDEO: Liberals make child care pledge, Greens unveil platform on Day 6 of campaign

Green party leader Elizabeth May unveils her party’s platform in Toronto

RCMP conclude investigation into 2017 Elephant Hill wildfire

Files have been turned over to BC Prosecution Service

B.C. wants to be part of global resolution in opioid company bankruptcy claim

Government says settlement must include Canadian claims for devastation created by overdose crisis

Two Nanaimo residents share $5-million Lotto 6/49 prize

Jesse Logan and Teresa Winters Day matched all six numbers in Aug. 21 Lotto 6/49 draw

B.C. ends ‘birth alerts’ in child welfare cases

‘Social service workers will no longer share information about expectant parents without consent’

U.S. student, killed in Bamfield bus crash, remembered as ‘kind, intelligent, talented’

John Geerdes, 18, was one of two UVic students killed in the crash on Friday night

Free Tesla 3 offered with purchase of Surrey townhome

Century Group’s offer for Viridian development runs through Oct. 31

B.C. communities urged to improve access for disabled people

One in four B.C. residents has disability, most want to work

Most Read