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Digital currency fraud in Canada up 400 per cent, RCMP say

March 29, 2021 – Fraud is more prevalent than ever, according to RCMP.

With the rise of cryptocurrency, criminals have opened a new avenue of taking peoples money.

“Cryptocurrency fraud is increasing dramatically in Canada, with a difference of more than 400 per cent between 2017 and 2020,” said Sgt. Kris Clark, a federal serious and organized crime RCMP officer. “Canadians lost nearly $11 million through digital currency scams alone, in the first eight months of 2020.”

Scammers and fraudsters tend to use similar tactics to rid people of their money, regardless of the method used for the actual transfer of funds, police say. Global News reports. | READ MORE