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THE WORLD OF CRYPTOCURRENCY AT YOUR FINGERTIPS

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UK Launches Scam Alert Service to Help Consumers Identify Criminals

The UK’s Action Fraud service recently announced that it had launched a scam alert service to help consumers identify and avoid scammers. According to government records, UK citizens had already lost around £2 million to scammers in COVID-19-related scams.

The Service

The scam alert service will help UK citizens stay ahead of scammers trying to defraud them of their earnings. The service is free and once someone signs up, they will be sent warnings regarding fraudulent schemes. Besides that, they will be advised on how to stay safe.

Financial service providers are also urging people not to make hasty decisions over their pensions. They fear that scammers may exploit the current pandemic and steal funds. According to one financial expert, the COVID-19 has created the perfect set of conditions for scammers to thrive. They are exploiting fear, a powerful emotion, for financial gain.

UK citizens are advised to be careful whenever they click on a link that appears in their email inboxes. Besides that, they are advised to update the software in all their electronic devices to minimize the threat of fraud.

Some of the scams are asking for funds in crypto. For instance, victims will receive an email telling them to pay a fine for violating social distancing rules. Besides that, some emails are being sent to people asking them to invest in bogus crypto schemes. In other cases, victims have been told to pay a fee in crypto or fiat to be enrolled in a vaccine scheme. Some emails have also claimed to be from the tax collector. The victims are told that they will receive a tax refund and they are sent a link which will help them calculate their refund.

One obvious sign that you are about to be scammed is if the spelling and grammar are poor. Besides that, you should always check the web domain to which you are being sent. Additionally, since most of the emails are sent in bulk, the scammers scarcely ever use your real name. In general, if you feel like an email is not genuine, you are probably correct. Besides that, you should note that government agencies do not request payment in crypto according to current laws.

 

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