The latest report states that crypto scammers are misleading investors by sending emails, impersonating UK’s FCA (Financial Conduct Authority). These emails are intending to amass investor’s interest by promising “guaranteed chance to earn” on crypto-related investment.
Scammers Guaranteeing Huge Earning Using FCA’s name
As scammers are quite smarter, these impersonated emails were featuring the FCA’s branding and Prudential Regulation Authority’s logo with a subject line, entitling “Guaranteed chance to earn.”
The emails quickly want investors to believe in the brighter future of Bitcoin in terms of value and specifically mentioned the price could hit over $20k by 2020. With that, recipients were encouraged to click on a “Click here” button.
“Bitcoin is still a long way off its peak price of $20,000, which it reached in 2017, but some cryptocurrency experts believe it could hit an even higher value by 2020.”
While FCA had confirmed their specific team is scrutinizing the matter, they have advised having due diligence ahead of clicking such buttons or act upon such emails. FCA always quickly cautioned investors on such matters and this time too, it warned that;
“The correspondence is likely to be linked to organized fraud and we strongly advise you not to respond to the criminals in any way,”
Nevertheless, this caught the attention of few more users when Dominic Thomas, founder of Solomon’s Independent Financial Advisers, took to Twitter and opened up about such scam emails. He said that he received the email five times over the weekend and stated that
“Email reveals the extent of the problem with cheap and easy new media ‘advertising'”.
— Dominic Thomas 💙 (@solomonsifa) July 22, 2019
Following other such queries on scam email, FCA ensured that they would never contact members of the public for money or any other bank details. It further warned recipients and the general public that this might be associated with the fraud and requested not to respond to the criminals in any way. It read that;
“Look for signs that the email, letter or phone call may not be from us, such as it listing a mobile or overseas contact phone number, an email address from a Hotmail or Gmail account, or a foreign PO Box number. “Scam emails or letters often contain spelling mistakes and poor grammar.”, It continued.
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