North Bay Police Service issues Community Alert after multiple cryptocurrency fraud reports
Article content
The North Bay Police Service has received multiple reports involving fraudulent companies claiming to assist with cryptocurrency investments. Many of these companies operate online and are not legitimate. NBPS advises the public to conduct due diligence before investing and, whenever possible, to invest in person with reputable companies.
Article content
Fraudsters often use high-pressure tactics, urgency, and emotional manipulation to convince victims to transfer money or share sensitive information. These schemes can appear convincing, with fake websites, social media profiles, or advertisements appearing at the top of Google searches. Once funds are transferred, victims are often unable to recover them.
Article content
The North Bay Police Service has the following tips about this issue: be skeptical of unusual requests, verify urgent or sensitive requests from family, government agencies (MTO, CRA, Immigration), or companies (Amazon, Netflix) directly by calling them and be wary of unusual payment methods such as cryptocurrency ATMs, gift cards, or wire transfers, do not invest your money without conducting thorough due diligence, be aware that fraudsters can advertise fake businesses or investment platforms online.
Article content
Presence on Google does not ensure legitimacy, never allow remote access to your computer as fraudsters may request you click a link or download software to steal banking and personal information, fraudsters exploit emotions (fear, panic, greed, sympathy, or romance) to pressure victims into quick decisions, this is a major red flag.
The NBPS also adds that you need to be cautious with unsolicited calls, as they are often fraudulent, if it seems too good to be true, it likely is, educate elderly family members about fraud schemes, as they are frequent targets and finally, ‘TAKE 5, TELL 2!” Pause to think and consult two trusted people before making any financial decision.
NBPS encourages the public to report suspicious activity and remain alert. If you believe you’ve been a victim of fraud, please call 705-497-5555 (option 5) to speak with an officeror the Canadian Anti-Fraud Centre at 1-888-495-8501. Your assistance can make a meaningful difference in ongoing investigations.
For those wishing to remain anonymous, tips can also be submitted through Crime Stoppers at 1-800-222-TIPS (8477) or online at www.nearnorthcrimestoppers.com.
Share this article in your social network