Federal Agencies Join Forces to Fight Crypto Scams

[sirty143]

Federal Agencies Join Forces to Fight Crypto Scams

Several federal agencies, including the Federal Bureau of Investigation (FBI) and the U.S. Securities and Exchange Commission (SEC), convened at a Fraud Disruption Conference to combat crypto scams, particularly the “pig butchering” fraud that siphons billions from Americans... See more for yourself here.

Your opinion is greatly appreciated.

[Baofeng]

I think they have been going after most of the scams in the crypto market right now, but obviously, Pig butchering is on the biggest and American is the target for this criminals from all over the world.

And we all know how American government thinks, if they are the victims, there are going to pursue it at all cost. But not sure how they can stop this criminal syndicates though. Gonna be tough and it will take not just cooperation from several agencies in the US, it should be government around the world that should join forces here.

[NotATether]

I think they have been going after most of the scams in the crypto market right now, but obviously, Pig butchering is on the biggest and American is the target for this criminals from all over the world.

And we all know how American government thinks, if they are the victims, there are going to pursue it at all cost. But not sure how they can stop this criminal syndicates though. Gonna be tough and it will take not just cooperation from several agencies in the US, it should be government around the world that should join forces here.

How about putting extra checks inside the withdrawal process of online US banks and stock investment platforms, a "holding period" if you may call it that, to give law enforcement a few extra days that this client was not the target of a pig butchering scam, and then block the withdrawal if the criteria matches.

[Bobcrypto]

In my opinion, a lot more need to be done to fight crypto scam. To make this fight against all form of crypto scam, other nation's crime agencies need come together just like the FBI and SEC in the US are currently doing. The SEC or FBI can not work alone it has to be a collective effort from other nation's security agencies to curb this ugly situation.

[TomPluz]

I think these agencies must really be doing their jobs going after the many scams on the market and they are particularly focusing on pig butchering which sounds to me like a milking cow for many foreign-based scammers and fraudsters. As the cryptocurrency industry is expanding its business and influence, am sure that it is also remitting millions of dollars in tax revenue and this is one with a huge potential only if the government will work with it and not stifle its growth. In response, the government must do its job of protecting the people from scammers who can be two steps ahead of the game, if not checked on the bud. Rather than launch some unnecessary lawsuits with players and platforms of the industry, I am sure that soon this will be changed in direction as a new SEC chair will be coming in this January.