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

Dormant Chemainus Foods building soon to be revived

Market expected to bring new life to the downtown core

Ladysmith Arts Council leads effort to establish Vancouver Island as an arts powerhouse

Terry O’Reilly will be the keynote speaker during an interactive live webcast on August 8 at 6pm

Oyster Bay Microtel solidifies reputation as a Vancouver Island destination

The Microtel is focused on continuing to build their reputation over the summer

Charity the name of the game for Crofton slo-pitch tournament participants

Crofton Fire Department event benefits three recipients

LRCA Concerts in the Park series presents: Cheryl Bear

Bear is an accomplished singer songwriter, and has travelled to over 600 Indigenous communities

VIDEO: Reports say Lashana Lynch is the new 007

Daniel Craig will reprise his role as Bond one last time

Vancouver Island mom says she will go to court overseas to try to get daughter back

Tasha Brown says her estranged wife abducted their daughter Kaydance Etchells in 2016

B.C. on right road with tougher ride-hailing driver rules, says expert

The provincial government is holding firm that ride-hailing drivers have a Class 4 licence

RCMP investigating alleged ‘sexual misconduct’ by cyclist on BCIT campus

BCIT said they were reviewing video evidence of the incident

New home cost dips in B.C.’s large urban centres

Victoria, Kelowna, Vancouver prices decline from last year

Graphic suicide scene edited out of ‘13 Reasons Why’ finale

Suicide prevention groups support the decision

Nine kittens and cats rescued after being locked in bins in northern B.C.: SPCA

SPCA says cats were starving, and matted with feces and urine

High-speed rail link would run from Vancouver to Seattle in under 1 hour: study

Annual ridership is projected to exceed three million

ICBC insurance renewals get more complicated this year

Crash history, driver risk prompt more reporting requirements

Most Read