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UK watchdog says currency and crypto scams hit £27 million

UK watchdog says currency and crypto scams hit £27 million

Scams in Britain involving currencies and crypto assets like bitcoin totalled £27 million in the last financial year, with average losses of 14,600 pounds per victim, the Financial Conduct Authority (FCA) said on Tuesday.

  • Shared by Reuters
  • May 21, 2019
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Reports of scams more than tripled in the year that ended in April to 1,800 as fraudsters often used social media to promote their “get rich quick” online trading platforms, according to an FCA statement.

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