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FBI Expects a Rise in Scams Involving Cryptocurrency Related to COVID-19 Pandemic

FBI Expects a Rise in Scams Involving Cryptocurrency Related to COVID-19 Pandemic

Created: Tuesday, April 14, 2020 - 13:59
Categories:
Cybersecurity

The FBI advises its partners to be on the lookout for an increase in the following cryptocurrency fraud schemes related to COVID-19. These schemes may include blackmail attempts, work from home scams, paying for non-existent treatments or equipment, and investment scams. Although each of these scams has its own twist, they share the commonalities of attempting to capitalize on the fear and uncertainty during the current pandemic to steal money and launder it through the cryptocurrency ecosystem. The FBI includes a series of tips in the advisory to help its partners protect themselves from fraud, which include verifying that a vendor is legitimate and accepts cryptocurrency before sending payments and not using personal bank accounts for work-from-home business, among others. Read the Advisory at the FBI.