From initial coin offerings that are totally fake to fraudsters demanding payments in crypto, scams involving cryptocurrencies are on the rise. Two experts explain why – and how to protect yourself.
Although it’s estimated illicit activity amounts to less than 1% of all cryptocurrency transactions, figures of losses are still staggering – and on the rise.
Last year, men were more likely to report losses to investment fraud, while women were the main target for romance fraud. Overall, men reported higher financial loss.
There is no specific crime of catfishing in Australia. So we have to make better use of existing laws to address this devastating behaviour.
Maria Exposto recently walked free after facing a death sentence in Malaysia for unwittingly becoming a drug mule from a fraudulent online relationship.
EPA/Kejuma Esbi
Romance scammers are clever, well organised and have a number of tried techniques which make them highly successful. But there are ways you can avoid being scammed by a one-sided romance.
Casey Donovan (right) talks about her catfish experience during her interview with Andrew Denton (left) on Channel 7.
Andrew Denton: Interview
Millions of dollars are lost each year by Australian’s caught in romance scams. But one Australian grandmother now faces paying a much higher price: she’s been sentenced to death.