Insights on recognising robocall scams peddling auto warranties were released by the Florida Department of Agriculture and Consumer Services (FDACS), and one of the warning signs was being requested to pay for the services with gift cards or cryptocurrencies, as reported by Cryptoslate.
The Enforcement Bureau issued an order requiring phone carriers to stop carrying robocall traffic in response to consumer complaints about the rising number of robocall scams, in which con artists utilise prerecorded calls to advertise and sell fraudulent services.
Cryptoslate noted that the FDACS bulletin listed five warning signs of frauds, regardless of how con artists reach out to potential victims. The FDACS urged Floridians to abstain from sending cryptocurrency payments and emphasised that no official from the government would request personal information like a person’s Social Security or credit card numbers, noting that “Only scammers will require one of those kinds of payments, and once you send the money, you probably won’t get it back.”
Although the newsletter highlighted how difficult it would be to find stolen cryptocurrency funds, many businesses, including Velodrome and Curve Finance, have been able to do so because of the immutable properties of blockchain technology.
A well-known cryptocurrency critic, US congressman Brad Sherman, stated on September 5 that it was no longer possible to ban cryptocurrencies due to the industry’s rapid development, Cryptoslate noted.
(With insights from Cryptoslate)
Also Read: What are the implications of stablecoins’ growth in the cryptocurrency market