Fraud

Australians seem to be very vulnerable to fraudulent money-stealing schemes. In 2019 alone, the continent citizens lost over $634 million to cryptocurrency scams, with over $2 billion stolen during the past decade.

On June 12, 2020, the Seoul Metropolitan Police announced investigating a cryptocurrency scam project run by three fraudsters having collected about 100 billion won (approx. $83.1 million USD).

While countries are busy dealing with the coronavirus pandemic, they are targeted by hackers wishing to benefit from the crisis. Now, criminals aim at the vital and the most vulnerable industry as of now - healthcare.

The number of scam projects seems to grow proportionally to COVID-19 cases. Now, scammers are posing themselves as the National Health Service (NHS) to trick the citizens of Great Britain out of their cryptocurrency.

Fraudsters are actively taking advantage of the worldwide coronavirus pandemic. Three cities in the UK, Manchester, Pembrokeshire, and Norfolk, have already issued scam alerts against new schemes.

The UK Financial Conduct Authority (FCA) recently issued well-filtered recommendations to the public especially the investors not to participate in cryptocurrency investments related to Covid19 through an official website.

A citizen of the USA named Zoobia Shahnaz faces a 13-year sentence for attempts to finance ISIS with bitcoins. To achieve her goal, she tried to fraud several giant financial institutions including American Express, Chase and Discover.

A man from Ohio, USA, is facing charges which could see him refund up to $33 million for violating US federal anti fraud regulations set by the US Securities and Exchange Commission (SEC). SEC revealed that Micheal W. Ackerman is indicted for fleaching more than $33 million from about 150 investors subscribed to his cryptocurrency platform.

CeTIF Università Cattolica decided to bring blockchain into play in Italy with a significant project dubbed the "Digital sureties (Fideiussioni Digitali)" aimed at reducing fraud, increasing efficiency in information workflows and developing new forms of information sharing.