Category: Crypto Scams
Pig Butchering Scams on the Rise: How to Protect Your Customer’s Crypto Assets
June 6, 2023
With all due apologies to both pigs and butchers… Pig butchering, a term originating from a Chinese phrase, refers to a type of fraud...
Wash Trading: How to help your customers understand risks in the NFT market
April 18, 2022
Wash trading is a dominant form of fraud in the young NFT marketplace, and has already yielded scammers millions in illicit gains. In this...
Crypto crime is down, but crypto scammers are getting smarter
September 17, 2021
A recent report shows good news for the crypto industry: crime is down dramatically. Except in one area, where it has increased 4x. Here’s...
Ransomware scams are on the rise: What cryptos need to know for SAR filing
November 2, 2020
FinCEN and OFAC released joint advisories warning businesses about an increase in ransomware scams, along with new instructions for Suspicious Activity Report (SAR) filing....
Crypto investment scams: what businesses need to know for consumer protection
September 28, 2020
First-time or existing customers may be vulnerable to fraudulent investment schemes that promise high returns that never materialize. Here are some red flags businesses...
Prize scams: What crypto businesses can do to prepare
September 14, 2020
First-time customers attempting to purchase cryptocurrency because they “won the lottery” or some other prize could be victims of a scam in progress. Here’s...
How check-cashing scams could be affecting your customers
September 7, 2020
If you run a crypto business, be on the lookout for signs of check-cashing scams. This old-fashioned fraud is as prevalent as ever. Even...
What is a ‘ticket scam’ and why do cryptos need to understand it?
August 17, 2020
This old-fashioned scam is more prevalent than you think — and your customers could be at risk. If you run a cryptocurrency exchange, kiosk...
How a ‘utility scam’ works and what crypto business owners need to know
August 10, 2020
Americans lose millions in utility scams each year, especially as winter approaches. More scammers are asking for cryptocurrency. BitAML is continuing its blog series...