Saint John police are warning residents about recent cryptocurrency scams in the community.
Police say they have responded to at least five instances of bitcoin-related scams since early May.
According to a news release, the scams have resulted in tens of thousands of dollars in losses.
“As a reminder, banking institutions, police officers, or representatives from any other legitimate financial or government institutions, including the Canada Revenue Agency (CRA) will not ask you to withdrawal funds and send them BITCOIN or purchase gift cards,” said the release issued on Thursday.
Police also offered up several tips people should keep in mind to help avoid becoming a victim.
- Be aware of unsolicited calls asking for your personal or banking information. If you did not initiate the call, do not assume you know who you are talking to.
- Be aware of phone calls threatening arrest or large fines if you do not do what the caller asks.
- Be aware of paying fees or deposits in advance of receiving goods and services including online buy and sell sites.
- Be aware of phone calls asking you to send payments using cryptocurrencies and prepaid gift or credit cards. Caller ID spoofing can make incoming calls appear legitimate. In these cases, call your financial institution, credit card company or the business yourself.
- Be aware of urgent messages that appear on your computer or are sent to you in an email. Do not click on these. They may contain viruses or spyware. Do not call the number provided. Many scams threaten to lock your computer in exchange for funds.
- Protect your accounts online with strong passwords and multi-factor authentication.
- Watch out for urgent pleas for your money. Do not be afraid to say no to high-pressure sales tactics.
- Do not send sexual photos or videos of yourself to anyone. Sextortion is a common scam.
- Legitimate businesses, financial institutions, government agencies including the Canada Revenue Agency (CRA) and police do not threaten clients.
You can report a suspected scam by visiting the Canadian Anti-Fraud Centre’s website or by calling 1-888-495-8501.
