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.
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.
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.