Hike in cryptocurrency fraud complaints: Police
Do not share personal information over phone
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Sault Ste. Marie Police Service says it is receiving an increase in cryptocurrency fraud complaints.
Recently, a person was contacted and directed to use a bitcoin ATM to deposit money into the fraudster’s account. The individual was told they were speaking to a fraud advisor at a financial institution and to deposit money into a cryptocurrency account, police say. The person was scammed out of approximately $14,000.
Since August 2021, police say they have received at least nine cryptocurrency/bitcoin related fraud complaints. They urge the public not to transfer money or cryptocurrency to anyone not known to them.
Often, seniors and new Canadians are targeted in such cryptocurrency related frauds, police say.
Staff at a business with a bitcoin ATM are trained and often recognize potential victims and warn them not to transfer money. If a staff member advises such a request is fraudulent, take their advice and contact police, officials say.
For concerns about a potential scam or fraudulent activity, contact police at 705-949-6300.
Police advise not to share personal information with anyone you do not know over the phone; you are not obligated to share such information. Do not be shy about asking the person on the phone questions about why they are requesting money or personal information, police advise. If you have second thoughts, end the communication, police say.
For more tips to protect yourself from fraud and identity theft, visit www.saultpolice.ca and the Canadian Anti-Fraud Centre.
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