Police say scammers frequently use fear, urgency, and secrecy to push victims into sending money via cryptocurrency ATMs.
According to the Ontario Provincial Police, fraud involving cryptocurrency continues to affect individuals and communities throughout eastern Ontario.
Police report that scammers often exploit fear, urgency, and secrecy to coerce victims into transferring funds through cryptocurrency ATMs. These transactions are quick, tough to reverse, and can be directed anywhere globally.
There are currently over 300 crypto ATMs located across eastern Ontario, including around 40 within areas monitored by the OPP. This makes it easier for fraudsters to guide victims to nearby machines.
The OPP has documented various scams including investment fraud, fake job offers, romance scams, extortion attempts, recovery scams, impersonating bank investigators, and phony service or tech support schemes.
In recognition of Fraud Prevention Month this March, OPP community engagement officers along with auxiliary members are collaborating with local businesses hosting crypto ATMs to spread awareness and provide educational materials on prevention strategies.
The police urge residents to be vigilant for warning signs like urgent requests, threats, instructions to deposit cash into crypto ATMs, and being told to keep the matter confidential.
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