Fraud

Since the UK began hunting money launderers, British police have managed to seize over $408 million (£294 million) worth of illegal cryptocurrencies. This shows that the general situation with money laundering using cryptocurrencies in the United Kingdom is alarming.

There isn't a single lucrative business in this world that doesn't attract the attention of scammers. Almost every cryptocurrency exchange has its "full-time" experienced scammer. Below are useful tips on how to overcome scams in 2021.

As online shopping is one of the commonly used online activities internationally, the global retail e-Commerce sales globally are expected to increase to about $6.55 by 2022. However, the industry is still vulnerable to fraudsters, so a great share of profits is expected to be lost due to the vulnerability.

The cybercrime department of the Turkish police has arrested four people following the loss of $2 Billion from a cryptocurrency exchange. The arrested people included the head of Vebitcoin, one of the sites that became inaccessible leading to loss of funds. The culprits were rounded up in the province of Mugla southwestern Turkey.

A tax official from the US state of Florida has been indicted on corruption embezzlement charges involving cryptocurrencies.

Bitcoin adoption is growing dramatically in Canada, but the rate of cryptocurrency fraud is also increasing at a worrying speed. Between 2017 to 2020, digital currency-related fraud in Canada rose by about 400%, as per the report by RCMP.