Ongoing rise in cryptocurrency scams increases calls for regulation

By Darren Parkin Research from a financial claims management company has revealed that cryptocurrency scams are on the rise. Work by Refundee shows that of the 1,742 scams reported to the Shoreditch-based company, cryptocurrency fraud has accounted for 31 per cent of reports. This is followed by investment scams at 19 per cent, purchase scams (18 per cent), work/job task scams (14 per cent), and romance scams weighing in with seven per cent. Cryptocurrency scams are often based around fake opportunities with promises of huge returns. They use a variety of tactics to convince victims to send th…