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The office of financial behaviour in the United Kingdom (FCA) has reported that losses from fraud with investments in cryptocurrency in 2018 amounted to a total of more than 197 million pounds ($255 million US). The Agency reported these losses in an official press release issued on 6 February.
According to the FCA, the most common fraudulent reports concerned unauthorized investments in stocks and bonds, currency markets and cryptocurrencies. Each victim lost an average of £ 29,000 (us $ 37,000), with these types of fraudulent investments totalling 4'996 reported cases and accounting for 85% of the total number of fraud reports in 2018.
In a recent warning to investors, the FCA stressed: "Investors should be particularly careful when investing during the first quarter of the year, which is considered the peak investment season until the end of the tax year."
The financial observer also noted that the spread of investment fraud is shifting from traditional cold calling to online fraud. According to the FCA, the scammers used Internet sources 9% more than in 2017, contacting people via email and professional-looking websites, as well as through social networks like Facebook and Instagram.
Earlier in January, we published a report of the crypto-analytical company CipherTrace, which contains data that for 2018, illegal funds received about $1.7 billion, including $960 million stolen from crypto-exchanges and $725 million lost in fraud, Ponzi schemes and fraudulent coin offerings (ICO).
In December 2018, the FCA revealed that it is investigating the activities of 18 firms about the use of cryptocurrency. A month before, in November 2018, the FCA said they were investigating more than 50 cryptocurrency-related organizations that may have offered financial services without proper authorization.
Link - https://altstake.io/news/regulyator-velikobritanii-255-mln-poteryano-v-kripto-skamah-za-2018