Another news again about crypto scams or fraud. According to the report:
US Treasury Sanctions Cambodian Tycoon Over Crypto Fraud and Trafficking Links
I’ll just take the key notes from the news, something like this.
There are still many who fall for these kinds of scams, it really comes down to a lack of knowledge. As they say, it's just easy money or HYIP. Even though regulations are getting tighter, some still manage to slip through, and most of these scams happen in poor countries.
And here's more.
Maybe these people were probably offered a different job at first, but when they got to the actual work, it turned out to be a scam. They probably can’t leave anymore because there’s a big syndicate behind it. The pattern seems familiar, kind of like the scenario with POGO here in the Philippines.
Whom do you want to blame here Cryptocurrency or the users? And of course to me I will blame those who are using it because there's no enough knowledge to safeguard their coin in their custody where are any random person would just come to steal from them just as the way the banking system has warned never to release any of our banking details to people out there. US Treasury Sanctions Cambodian Tycoon Over Crypto Fraud and Trafficking Links
I’ll just take the key notes from the news, something like this.
Quote
In many cases, this involves convincing victims to invest in virtual currency, or in some cases, over-the-counter foreign exchange schemes, all with the intent of defrauding them of their funds. These scams are largely perpetrated by criminal organizations based in Southeast Asia.
There are still many who fall for these kinds of scams, it really comes down to a lack of knowledge. As they say, it's just easy money or HYIP. Even though regulations are getting tighter, some still manage to slip through, and most of these scams happen in poor countries.
And here's more.
Quote
The U.S. Department of the Treasury announced on Thursday that it is sanctioning a “Cambodian tycoon and businesses linked to human trafficking and forced labor in furtherance of cyber and virtual currency scams.” Cambodian businessman Ly Yong Phat, his conglomerate L.Y.P. Group, and several properties, including O-Smach Resort, have been linked to extensive human rights abuses involving trafficked workers forced into labor for online scam centers focused on cryptocurrency fraud.
Maybe these people were probably offered a different job at first, but when they got to the actual work, it turned out to be a scam. They probably can’t leave anymore because there’s a big syndicate behind it. The pattern seems familiar, kind of like the scenario with POGO here in the Philippines.
Which including; our ATM card/pin, NIM, BVN and any other important documents that relates to our Banks. So tell me why would someone just ask of something online and the foolishly do not ask and consult people before furthering ahead to do whatever payment.
The thing is, it's simple and anyone who understands about security can actually not being scammed by anyone with the mindset that whatever that comes from people online that sounds too real is fake so they can avoid it coming.
