Coinbase says its investigations team often conducts additional reviews of transactions associated with accounts belonging to seniors because of the high rate of wire fraud targeting this group
In late August, an elderly Asheville, North Carolina man received a terrifying call from someone claiming to be from the “Office of the Inspector General”. The caller warned the senior’s personal information had been used to facilitate a drug trafficking and money laundering scheme and all his assets would be frozen until the government could verify he wasn’t part of the scheme.
In this case, the fraudsters persuaded the victim to buy a cell phone and a laptop and load the TeamViewer app onto that laptop so they could control it remotely. They got him to hold his driver’s license up to the laptop’s camera so they could capture pictures of both it and him and opened a Gmail account under their control in his name.
In an email to Forbes, Coinbase noted its investigations team often conducts additional reviews of transactions associated with accounts belonging to seniors because of the high rate of wire fraud targeting this group. For much of the public , Crypto is associated with criminal activity. But Coinbase’s intervention shows the effort reputable exchanges are making to comply with the law.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto Crime Stopper: How Coinbase Foiled The Theft Of A Half Million From An Elderly Man’s Bank AccountsScammers convinced a North Carolinian to cash in his bank CDs and transfer the money into bitcoin held in a Coinbase account. The banks didn’t block the suspicious transactions, but the crypto exchange froze the funds.
Read more »
Crypto Crime Stopper: How Coinbase Foiled The Theft Of A Half Million From An Elderly Man’s Bank AccountsScammers convinced a North Carolinian to cash in his bank CDs and transfer the money into bitcoin held in a Coinbase account. The banks didn’t block the suspicious transactions, but the crypto exchange froze the funds.
Read more »
Crypto bank Sygnum raises $90 million, now valued at $800 millionSwiss crypto bank Sygnum has raised $90 million in Series B funding. The firm is now valued at $800 million.
Read more »
Feel the Great Burn With French Connection Finance and the Beta Innovative Payment Gateway | Hacker Noon'Feel the Great Burn With French Connection Finance and the Beta Innovative Payment Gateway ' cryptocurrency crypto
Read more »
Crypto crime was the highest — and lowest — ever in 2021: ChainalysisChainalysis concludes that the growth rate for legitimate crypto transactions far exceed crime-related ones.
Read more »
Hong Kong real estate giant leads $90M raise for crypto bank SygnumInstitutions continue to offer serious backing for the cryptocurrency industry. Sun Hung Kai, one of the largest property developers in Hong Kong, led a $90 million Series B round for Swiss crypto outfit sygnumofficial.
Read more »