Tips to Protect Yourself from Financial Theft

Scammers are using some tried and true scam tactics — only now they’re demanding payment in cryptocurrency. Investment scams are one of the top ways scammers trick you into buying cryptocurrency and sending it on to scammers. But scammers are also impersonating businesses, government agencies, and a love interest, among other tactics.

Am I being scammed?

Investment scams often promise you can "make lots of money" with "zero risk," and often start on social media or online dating apps or sites. These scams can, of course, start with an unexpected text, email, or call. And, with investment scams, crypto is central in two ways: it can be both the investment and the payment.

Scenario of a Crypto Scam

A so-called “investment manager” contacts you out of the blue. They promise to grow your money — but only if you buy cryptocurrency and transfer it into their online account. The investment website they steer you to looks real, but itʼs really fake, and so are their promises. If you log in to your “investment account,” you wonʼt be able to withdraw your money at all, or only if you pay high fees.

How to Report Financial Theft

• FTC at www.ReportFraud.ftc.gov

• Commodity Futures Commission (CFTC) at www.CFTC.gov/complaint

• U.S. Securities and Exchange (SEC) at www.sec.gov/tcr

• Internet Crime Complaint (IC3) at www.ic3.gov/Home/FileComplaint

• Cryptocurrency exchange company you used to send the money.

You may call us or come in to request more info if you feel that you are a victim of financial theft or have questions about a virtual currency purchase. We can help