Latin America and Europe join in a campaign to alert about scams with cryptocurrencies – DiarioBitcoin

Texas could raise funds through NFT and harness 'abundant' energy to mine Bitcoin

Latin America and Europe join in a campaign to alert about scams with cryptocurrencies - DiarioBitcoin By Hannah Perez

The police and judicial forces of Argentina, Chile, Colombia, Spain and other countries are leading the “FakeCoin” campaign to raise awareness of digital currency scams.


A group of Latin American countries and the European Union have joined forces in a communication campaign to warn citizens about fraud with digital assets.

denominated Fake Coins, the campaign seeks to raise awareness about fraudulent operations with cryptocurrencies, providing resources to people so that they can identify and stay away from this type of scam. As reviewed The Observerthe joint effort was presented during an event this week, which took place in Madrid and Santiago.

The campaign has the participation of police and judicial authorities from Argentina, Bolivia, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, Paraguay, Peru, the Dominican Republic and Uruguay, in addition to Spain and Portugal. , in Europe. It is a coordinated effort between the European Union project EL PacCTO, an international cooperation program against organized crime, and the Police Network against Cybercrime in Europe and Latin America.

According Euro EFEthe initiative is also part of a broader international cooperation effort that the Civil Guard has launched with the help of the International Foundation for Ibero-America for Administration and Public Policies (FIIAP), a Spanish cooperation organization that promotes exchanges with Latin American countries.

See also  Seville, the stadium of Europe

An effort between European and Latin American countries

The bell FakeCoins offers a free online advice and reporting channel, which contains information on scams, tips to avoid falling for the scams and reporting telephone numbers for each country. Specifically, the official website currently warns about six types of cryptocurrency scams identified by the security forces of the alliance countries.

Among them, they warn about scams that use fraudulent web pages to steal user data; or also pyramid schemes, which promise high returns or profits in cryptocurrencies to unsuspecting investors. The campaign has used catchy terms like “WebCoin», «AppCoin” and “PiramiCoin» to identify fraud methods.

The general objective of the site is to raise awareness about the main scams detected in cryptocurrency operations, so that citizens can identify how they are produced and what tricks the scammers use.

The initiative is directed towards citizens in general, as potential victims of this type of scam and, at an operational level, towards the police and jurists of the participating countries. In addition to training and preventing this type of scam, another objective is to serve as a record for complaints. This will allow the authorities of the allied countries to have accurate information that serves to know and take action against the crimes related to cryptocurrencies that are carried out.

See also  US Department of the Treasury clarifies that network miners and validators will not be considered as crypto brokers - DiarioBitcoin

The Director General of the Chilean Investigative Police (POI), Sergio Muñoz emphasized that the objectives of the campaign are “inform society about the most common scams with cryptocurrencies, prevent them from being victims and, if they have been, provide them with the channels to file complaints”.

Raising awareness about crypto scams

The efforts come at a time of increased adoption for digital currencies globally, a phenomenon that has also led to an increase in scams and fraud related to this sector. The general director of the Spanish Civil Guard, María Gámez, pointed out the importance of alerting and shedding light on a booming digital medium, still very unknown to the general population. She also highlighted that both the Civil Guard and the rest of the police in Latin America and the European Union are aware of the need to act together when a common threat is detected.

According to the PDI, which is one of the entities that is coordinating the initiative, crimes related to cryptocurrencies increased by 80% worldwide in 2021 compared to the previous year, reaching USD $14 billion defrauded.

In Spain it is estimated that more than four million people have invested at least once in cryptocurrencies. This same week, the deputy governor of the Bank of Spain, Margarita Delgado, assured in an event that 12% of the country’s population currently owns cryptocurrencies. She took advantage of the space to warn investors about the possible risks associated with the use of said assets.

See also  Bitcoin Controversy: Why Are Several Developers Opposing BIP-119?

Recommended reading

Article by Hannah Estefanía Pérez / DailyBitcoin

Unsplash image edited in Canva

WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

Leave a Comment

Your email address will not be published.