Police say cryptocurrency-related scams continue to affect residents across eastern Ontario as fraudsters increasingly use crypto ATMs to collect payments from victims.
The Ontario Provincial Police says scammers often rely on urgency, fear and secrecy to pressure people into sending cryptocurrency, frequently directing victims to nearby kiosks where the money can be transferred quickly and is difficult to recover.
Police say there are now more than 300 cryptocurrency ATMs across eastern Ontario, including about 40 within areas policed by the OPP, making it easier for fraudsters to direct victims to a location.
Investigators say a range of scams have been reported, including investment and employment schemes, romance scams, extortion attempts, and so-called recovery scams where victims are promised help retrieving lost cryptocurrency for a fee.
Other schemes involve fraudsters posing as bank investigators or offering fake services such as technical support.
During Fraud Prevention Month in March, OPP community engagement officers say they are working with local businesses that host crypto ATMs to distribute fraud-prevention materials and raise awareness. Members of the OPP Auxiliary will also assist with community education efforts.
Police say common warning signs include being told an account has been compromised or that a bill is overdue, being pressured to act immediately, or being instructed to withdraw cash and deposit it into a cryptocurrency ATM.
Another red flag, police say, is being told to keep the transaction secret and avoid speaking with family members, bank staff or police.
Anyone who believes they have been the victim of fraud after using a cryptocurrency ATM is urged to keep their receipt and record the location of the machine. Police also recommend saving screenshots and information such as cryptocurrency wallet addresses, transaction IDs, text messages, emails and phone numbers.
Victims are encouraged to contact the Ontario Provincial Police or report the incident to the Canadian Anti-Fraud Centre.
(Steve Berard)
