Regardless of the methods scammers use to contact potential victims, the FDACS fact sheet highlighted five red flags that can help citizens identify and avoid potential scams.
The Florida Department of Agriculture and Consumer Services (FDACS) has issued an alert sharing information about identifying fraudulent marketing auto warranties, including paying for services with gift cards and cryptocurrencies.
Consumer complaints about an increase in robo-call fraud, in which scammers use recorded calls to advertise and sell fraudulent services, has prompted the Bureau of Enforcement to order phone companies to avoid transmitting robo-traffic.
Regardless of the methods scammers use to contact potential victims, the FDACS fact sheet highlighted five red flags that indicate fraud.
Five red flags for fraud detection. Source: fdacs.gov.
The ad highlighted some of the most popular payment methods that scammers often recommend:
“Payment Method: If you’re asked to pay with a gift card or cryptocurrency, it’s a scam.”
In addition to asking Florida residents not to make crypto payments, FDACS confirmed that no government official will ask for personal information like a Social Security number or credit card number, adding that “only scammers will ask for any of these forms of payment.” , and once you send the money, you probably won’t get it back.”
Although the leaflet mentions the impossibility of tracing cryptocurrency funds from hackers, many companies including Velodrome and Curve Finance have successfully recovered stolen funds thanks to the immutable nature of blockchain technology.
Related: US lawmakers urge Mark Zuckerberg to eliminate crypto fraud ‘hotbed’: report
On September 5, US Congressman Brad Sherman, a well-known crypto skeptic, acknowledged the rapid growth of the crypto ecosystem and stated that cryptocurrencies could no longer be banned.
Sherman explained that political donations and lobbying for cryptocurrencies make a total ban on cryptocurrencies impossible, adding:
“We didn’t ban it in the beginning because we didn’t understand it was important, and we haven’t banned it now because there’s too much money and power behind it.”
Most lawmakers, including Sherman, support the introduction of strict regulatory policies for cryptocurrencies.
