Millions of cryptocurrency investors have been scammed out of massive sums of real money. In 2018, losses from cryptocurrency-related crimes amounted to US$1.7 billion. The criminals use both old-fashioned and new-technology tactics to swindle their marks in schemes based on digital currencies exchanged through online databases called blockchains.
Cryptocurrencies like bitcoin are based on systems that are supposed to be inherently protected from fraud. Yet the U.S. Department of Justice has opened a criminal investigation into manipulation of bitcoin prices. How is that sort of activity even possible? From researching blockchain and cryptocurrencies for the past three years, I know that blockchain systems have some immutable security featu...[Read More]
If you are the owner of a credit or a debit card, there is a non-negligible chance that you may be subject to fraud, like millions of other people around the world. Starting in the 1980s, there has been an impressive increase in the use of credit, debit and pre-paid cards internationally. According to an October 2016 Nilson Report, in 2015 more than US$31 trillion were generated worldwide by these...[Read More]
A Texas woman in her 50s, let’s call her “Amy,” met a man online calling himself “Charlie.” Amy, who lived in Texas, was in a bad marriage. Charlie said he was a businessman and a Christian, and wooed her. “He was saying all the right things,” Amy later told the FBI. “He was interested in me. He was interested in getting to know me better. He was very positive, and I felt like there was a real con...[Read More]
You are now 20 times more likely to have your money stolen online by a criminal overseas than by a pickpocket or mugger in the street, according to recent figures from the Office for National Statistics. The figures, revealed that almost 6m fraud and cyber crimes were committed in the past year in England and Wales alone – making it now the most common type of crime experienced by adults in the UK...[Read More]