CRYPTO SCAMS DECLINE, BUT FRAUDSTERS CONTINUE TO INNOVATE
May 19th, 2024
Cryptocurrency scams are a serious threat and have plenty of room to grow in scale, yet the Association of Certified Fraud Examiners (ACFE) has warned in its latest biennial 2024 ‘Report to the Nations’ on occupational fraud that the proportion of swindles undertaken in the crypto sector has been shrinking.
“Only 4% of the cases in our study involved cryptocurrency; nearly half of those cases (47%) included the perpetrator converting their stolen assets into cryptocurrency, and one-third (33%) involved bribery or kickback payments made to a co-conspirator ...
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