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Crypto Scams Result: Australian Bank Limits Payments to Crypto Exchanges

There have been a lot of crypto scams going on lately, and now it’s payback time, new reports reveal. Check out the latest news on the matter below.

Crypto scams trigger new move from authorities

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Commonwealth Bank of Australia has implemented measures to restrict its clients’ capacity to transfer funds to cryptocurrency exchanges as a result of scams associated with crypto.

The bank has announced that it will either reject or delay specific payments made to crypto exchanges. Additionally, the bank intends to implement a monthly limit of $10,000 (AUD) that its customers can transfer to exchanges.

“With the incidences of scams increasing and in many cases customers suffering significant losses from being scammed, the introduction of 24-hour holds, declines and limits on outbound payments to cryptocurrency exchanges will help reduce both the number of scams and the amount of money lost by customers,” said James Roberts, general manager of group fraud management services at Commonwealth Bank.

FBI just issued a warning to Americans. They are saying that the fake job ads are forcing victims to commit crypto scams.

FBI issued a warning to Americans

They said that there are fake job ads that force victims to commit crypto scams.

It’s been just revealed that the Federal Bureau of Investigation (FBI) has just issued a warning to Americans about fake job advertisements. They said that these are harassing applicants into committing crypto fraud.

According to a new public service announcement from the FBI, false job advertisements linked to labor trafficking compounds in Southeast Asia are using employment fraud schemes to lure people, hold them against their will and intimidate them into committing crypto fraud.

“Criminal actors target victims, primarily in Asia, in employment fraud schemes by posting false job advertisements on social media and online employment sites.” Check out the previous article in order to learn more.

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