image credit: Pxhere

FCA issues coronavirus cryptocurrency scam warning

March 13, 2020

In a warning published on its website, the regulator says criminals and scammers are trying to take advantage of confusion and market instability in the wake of the virus’ spread across the globe.

“Watch out for scams related to coronavirus (COVID-19),” the FCA writes.

“These scams take many forms and could be about insurance policies, pensions transfers or high-return investment opportunities, including investments in cryptoassets.”

The FCA warns that scammers are sophisticated, opportunistic and willing to try many things to separate investors from their money.

Read More on Banking Technology