Crypto Scams are a global issue - page 22.

Febo

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Quote from: akeegan on May 02, 2019, 06:39:39 PM

Crypto Scams are a global issue

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/

Money laundering is not a scam. Support your local police and regulations and you will help with scams.

adzino

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Yeah, crypto scam is a global issue, just like fiat scam. Listen, scam happens. People will scam each other in one way or the other. There is no way we can totally remove scam from the earth. Money laundering happens with fiat money also. We just need to find ways to reduce them. Completely banning anything won't help us in anyway. People launder money using gift cards. Should we ban gift cards completely? Should we blame everything on gift cards?

elisabetheva

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Quote from: omonuyak on May 03, 2019, 03:45:42 PM

Scamming activities is really increasing in cryptocurrencies market and something need to be done by the enthusiast in our to kick this ugly side of cryptocurrencies development. It is good we understand that scamming activities cannot really brings cryptocurrencies down but many are not investing because of fear of been scam.

The most important problem from crypto at this time, right what you say that the scam has entered into a very troubling direction and makes many investors refrain from investing their money. but not all scams are still true even though it must be careful to determine and need research to avoid deception.

omonuyak

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Scamming activities is really increasing in cryptocurrencies market and something need to be done by the enthusiast in our to kick this ugly side of cryptocurrencies development. It is good we understand that scamming activities cannot really brings cryptocurrencies down but many are not investing because of fear of been scam.

rijaljun

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Quote from: akeegan on May 02, 2019, 06:39:39 PM

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/

It is a global issue which the whole world can't fix. Few countries succeed to fight it but others are still struggle to put those scammer into a jail. That's why some countries is banning anything related to crypto, they are just trying to save their people from falling into a scam. I don't think we need more compliance from companies, but we need government to pay more attention to fight this issue.

Sirait

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Quote from: akeegan on May 02, 2019, 06:39:39 PM

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/

one thing that must be understood is that even without crypto the criminals can still commit fraud and money laundering. but the advantages of crypto are that their crimes have tracked all, thanks to the Blockchain technology. in the future, I really hope the government can use crypto and Blockchain technology to track the crimes of criminals and not assume that crypto is a threat.

Bezobraznike

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Quote from: finaleshot2016 on May 02, 2019, 09:22:36 PM

Scams are everywhere and it's very easy to implement a project scam in the cryptocurrency world because it is being done on the internet. The Internet can be used as a tool of scamming people especially when people get attracted to profit. Since then, I encountered a lot of scam projects for not paying the bounty hunters or the participants of the said project. I also participated in debunking a scam project to its lack of proof of legitimacy.

It's a big issue and very hard to be solved since it's being done globally and we can't control it instantly.

That's right. The main problem is that people are still not enough educated about internet and things around it.
Meanwhile there are people who without any special scills find a way to scam people from the first group on the internet.
I would also add that the justice in the case of internet scammers doesn't work perfectly in every country.
That's why we still may watch so many cases and so many victims.

chenille

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chenille!

The best part is to do education to detect scams. Most of them can be avoided if you know how the scammers will fool you. Only few of them are really professional where you can't do anything as educated user. The large number of scammer is just dumb using the same tricks all the day and still there are people getting scammed. The rules are easy and not difficult to learn

- don't store your coins in exchanges, they can be hacked
- don't generate your private key where it's not secure
- don't send your private key to anyone
- check the url of the website and don't get phished
- don't click on every link on the internet, verify before
- if an investment offers high returns it's mostly a scam
- don't send funds to strangers first

People have just to be more carefully where they sent their money. If someone is educated most of the scams won't harm you because it's easy to see the scam. Education is the best weapon against scammers and much better than useless regulations.

samridhi20

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I see enough of people calling cryptocurrencies scams . I know that the the crypto space has witnessed many scams but it does not means the whole industry should be labeled as scams .It just shows the negligence on part of such people who refuse to give some time learning about new revolution and that is because such people have pre conceived notions strongly etched in their mind. so i acknowledge that fact and thats why i m here to tell you about some of the most common forms in which crypto scams possiple .one is fake icos ,shady exchanges,fake wallets etc .so scams are present in all indutries .so global issue is lack of knowledge about crytpto scams

Adriano2010

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Indeed this is a huge problem, and a lot of scams, i think most of scammer come to scam on crypto because they are hard to track and to know where are the coins stealed, but i also think people who are in crypto should take more precaution measure and this will reduce scam attemps a lot.

DeadCoin

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I would say yes as crypto is completely involved with just money. The growth of a nation is decided upon its wealth. Its citizens' growth depends on their wealth they hold. When the investors / citizens are scammed of, they obviously loose everything and on the other hand the nation and globe are in trouble if you deeply look into it.

jak3

legendary

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crypto scams are everywhere it's up to you that you want to get scam or not. if talking about this forum most people get scammed by trusting lower ranked users so why do you even trust them. do not lend them money or do not trust with any amount of money if you see any potential of scam. just like how banks do it they take some collateral and when someone defaults on their payments they just sell the collateral and get profit.

wuvdoll

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Quote from: akeegan on May 02, 2019, 06:39:39 PM

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/

It doesn't have to have a global solution neither, as long as its a global problem that people scam each other there should be at least one person that scammer scammed from their own country and as long as countries have legal tender stating crypto scams are as equally bad as fiat scams than we will not have any trouble.

The issue is how did you get scammed, if its a one on one scam that you lost money to someone than you may not get that money back but that would be quite similar on anything including paypal, there has been many scams including regular fiat as well that went viral and global too but if the scale gets bigger and involves more people than 1 then that person usually gets caught because they tend to not scam just foreigners but scam their own countrymen too which result with them going to jail.

Slow death

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Quote from: akeegan on May 02, 2019, 06:39:39 PM

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/

Knives most common weapon in violent crime

The Use of Weapons in Committing Crimes

you can see that anything can be used to commit crimes. The problem is with people who are bad people.

--DarkSecrets--

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Quote from: akeegan on May 02, 2019, 06:39:39 PM

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/

Scams are everywhere and i think compliance will have a little help to filter those who tries to do fraudulent or scamming. In general, more scam will come up as the technology becomes more advance anyone can do scam as long as he can do it with his skills not only asking money for investors but also in other for of scamming. The best move for this scams is to be smart and always double check before anything else.

GreenStox

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I think from various countries that prohibit using cryptocurrency it does give bad statements like this, they try to exert influence on society if cryptocurrency is bad by providing various articles that say cryptocurreny is a scam global currency.

Lucius

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There is no doubt that any abuse should be prevented when it comes to cryptocurrency which is still pretty gray zone, and this is something which is a stimulus for a large number of scams. If you allow someone to steal a large amount of money and chances to be caught and punished are very little or almost do not exist, do you think that some bad people will not use such chance?

To prevent frauds which include cryptocurrency we need better and tight regulation, but this is in same time something that threatens privacy of users, because most people do not like KYC and they want to keep a certain degree of privacy regardless of everything.

I agree that crypto scams represent a global problem, but if we compared all crypto scams from first day of bitcoin until today they are rather insignificant in comparison with scams related to fiat.

rizkyhiw

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Indeed this is a very big and serious problem where investor confidence will be damaged by widespread fraud everywhere and I hope there is support from any party to resolve this problem so that we can move forward cleanly, maybe for now we still in the repair phase in the sense that it is still in process, we are only advised to remain cautious about fraud everywhere.

joeperry

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A company might help in regards with this situation but I believe on saying that if there's an idiot there will be a scammer. So for what I've known the main reason that there are scammers is because there are peoples who are not aware or doesn't have enough knowledge on something.

So I think the problem is with the people they don't have enough knowledge and experiences that's why some people are taking advantage on there ignorance. I believe all people started ignorant and in order to cure this a knowledge at a certain matter should be achieved and from that the crime will reduce if all people have enough knowledge.

What do you think?

Kemarit

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Quote from: akeegan on May 02, 2019, 06:39:39 PM

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/

Just like any sector in the world, scammers will be there to exploit unsuspecting victims. So definitely we will see more scams, so we need to be very attentive and don't be another statistics. As far as companies stepping in? It is called regulations, it has been a subject of debate for many years. It has pros and cons but in the end, it is still up to us not to fall for this so called scams in crypto sphere.

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