News 8 On Your Side consumer investigator Brian Roche is counting down the top scams of 2022.One of them involves a payment method that scammers love because it’s hard to track down your money after it’s been taken.Scammers are always looking for ways to get their money using methods that can’t be traced.The growing use of cryptocurrency has placed crypto scams in the no. 5 spot on Brian’s list.A request for payment in some kind of cryptocurrency is a sure sign of a scam.Those ATMs cropping up in convenience stores, gas stations, and big retailers are something scammers are taking advantage of.Pretending to be government officials, utility agents or sweepstakes representatives, the bad guys direct you to pay a fee, bill, or handling charge by sending cryptocurrency bought at these ATMs to an untraceable digital wallet.Once you send the money, it’s gone. There’s no way to get your money back.According to the Federal Trade Commission, “Nobody from the government, law enforcement, a utility company or contest promoter will ever tell you to pay them with cryptocurrency. If someone does, it’s a scam, every time.” As we approach the end of 2022, the future of cryptocurrencies is uncertain. Lawmakers in Washington are studying the use and existence of digital currency. Strong regulations are being considered that may limit the use of one of a scammer’s favorite payment methods.
News 8 On Your Side consumer investigator Brian Roche is counting down the top scams of 2022.
One of them involves a payment method that scammers love because it’s hard to track down your money after it’s been taken.
Scammers are always looking for ways to get their money using methods that can’t be traced.
The growing use of cryptocurrency has placed crypto scams in the no. 5 spot on Brian’s list.
A request for payment in some kind of cryptocurrency is a sure sign of a scam.
Those ATMs cropping up in convenience stores, gas stations, and big retailers are something scammers are taking advantage of.
Pretending to be government officials, utility agents or sweepstakes representatives, the bad guys direct you to pay a fee, bill, or handling charge by sending cryptocurrency bought at these ATMs to an untraceable digital wallet.
Once you send the money, it’s gone. There’s no way to get your money back.
According to the Federal Trade Commission, “Nobody from the government, law enforcement, a utility company or contest promoter will ever tell you to pay them with cryptocurrency. If someone does, it’s a scam, every time.”
As we approach the end of 2022, the future of cryptocurrencies is uncertain. Lawmakers in Washington are studying the use and existence of digital currency. Strong regulations are being considered that may limit the use of one of a scammer’s favorite payment methods.