Cryptocurrency scams are increasingly becoming a challenging domain for investors. They never know when they are going to be struck by scammers. Cyber experts issue urgent alerts. Fast-changing pace of the cryptocurrency market and its impact on the future of trading has evoked diverse sentiments from people who support the platform. As the market continues…
Loan application fraud is a type of financial fraud where criminals steal consumers’ online information to obtain illicit loans they have no intention of paying back. As per the latest estimates, financial institutions lose billions of dollars each year to financial frauds. Among these stealing identities of consumers and using them to execute various types…
Loan scammers use various social engineering tactics to steal money from borrowers. They target these vulnerable groups in the name of government agents. An advance fee loan is one of the strategies that millions of borrowers consider when they want to pay for auto repairs, consolidate credit card debt, pay mortgages, and other emergencies. But…
Scammers are pretending to be legitimate online retailers, building fake websites and ads to steal banking and personal information from shoppers. As businesses focus on frictionless customer interaction through online transaction facilities, online criminals are discovering new methods to defraud online shoppers. In a new technique to defraud online shoppers, scammers are pretending to be…
Fraudsters are targeting unsuspecting investors using various platforms and tricking them into putting money into unlicensed projects like bitcoin. A recent investigation led by the United States Securities Office, the FBI, and the Exchange Commission’s Office of Investor Education and Advocacy (OIEA) reveals that fraudsters are pretending to be financial advisors and swindling money from…
Victims may not respond as vigorously to long-term dangers as they do to present threats. However, experts suggest it is better to prepare than to regret. A stolen asset recovery initiative by the World Bank reveals that “developing countries lose between $20 and $40 billion each year through misappropriation of funds and other corrupt practices.”…
As traders look into crypto as a source of unlimited freedom from governing authorities, experts beware of common pitfalls scammers are luring investors into. While online trading has exponentially increased as a quick way to make money, it cannot be denied that these platforms are full of inherent risks. With over 85% of traders losing…
One of the significant risks of bitcoin trading is that fraud and hacks are almost unavoidable because there is no central authority governing the platform. It’s 2022, and Bitcoin is past its booming phase. Now it seems like everyone who’s looking to make profits is using it. In March 2021, Bitcoin hit an all-time record-breaking…
As cryptocurrency becomes mainstream, so do common misconceptions associated with it, like crypto recovery is impossible. Cyber expert Timothy Benson decodes them. When a potentially business-changing idea like cryptocurrency enters a market, interest takers and investors are bound to miss the details that operate the so-called platform. Since the project brings new ideas, entrepreneurs…
Pump and dump is a scamming technique where fake coin promoters spread misleading information to inflate the price of a specific digital crypto coin and then run away. In the past, scammers relied on cold calls to sell fake products and target innocent people. But today, the internet has offered a cheaper and easier…