New Australian Report Shows That Fraudsters Pick Bank Transfer Over Cryptocur...
A growing number of Australians have fallen victim of investment scams and fraudulent schemes. However, according to new report, scammers prefer bank transfers to cryptocurrencies. Australians Lose $670 Million to Scammers In 2020 The Australian Competition and Consumer Commission (ACCC) said in its annual Targeting Scams report published Monday that residents of Australia lost $851 […]
Related News
"Big four" Australian bank, the Commonwealth Bank of Australia (CBA), has announced its plans to integrate Ripple and use the distributed network to transfer funds between its subsidiaries. Speaking during a presentation at a forum organized by the Australian Information Industry Association, David Whiteing, CIO at CBA, said that the bank has been "testing crypto protocols" and is about to "begin a wider experiment with one of our offshore subsidiaries." The purpose, Whiteing continued, is to "explore the benefits of intra-bank transfers using these protocols." "The idea is to test in a....
Investment scams have been by far the most common type in Australia recently, a new report by the country’s consumer watchdog has revealed. And while a growing number of Australians fall victim to fraudulent schemes involving cryptocurrency, bank transfers remain the scammers’ favorite way to extract money. Australians Lose $670 Million to Scammers in a Year, Including $75 Million Through Bank Transfers Residents of Australia have lost $851 million Australian dollars (almost $670 million) in over 444,000 reported scam cases in 2020, the Australian Competition and Consumer....
Experts are demanding the introduction of a blockchain-based vaccine registry in Australia as counterfeit Covid passports proliferate online. With counterfeit Australian coronavirus vaccination certificates circulating online, local experts are calling for the national rollout of a blockchain-based vaccine passport to ensure the efficacy of the country’s “Covid certificate” system.A report in The Australian cites fraudsters who claim to have sold more than 200 fake COVID-19 certificates for $120 or more each and received interest from at least 900 other prospective customers. The....
On behalf of the Hyderabad City Police, Addl. Commissioner Shikha Goel asked Indian citizens to invest in crypto only through reputed and long-established players in this field. Goel highlighted the various methods that are actively being used by fraudsters to dupe investors such as lucrative investment opportunities, illegitimate bank transfers and cryptocurrencies. Acknowledging the growth of Indian crypto users, Goel added:“They [fraudsters] ask you to share your cryptocurrency details. And once you put it in your wallet, then the money is taken away.”After simplifying the elaborate....
ANZ Bank has launched a stablecoin tethered to the Australian dollar, lowering the risk associated with digital asset purchases and encouraging more clients to use crypto. It is the first time an Australian bank has issued a digital asset tied to the Australian dollar’s value, and it may be the first time a major lender […]