US FTC Conducts Workshop to Educate Public on Scams
Man in blue suit pointing to graph and US FTC icon on screen in front of six people in suits sitting around office table.

US FTC Conducts Workshop to Educate Public on Scams

Jun 27, 2018, 7:48AM
Hacks & Frauds 1 min, 0 sec READ

FTC continues its efforts to educate consumers on cryptocurrencies and how to avoid scammers taking advantage of public interest in cryptos

The Depicting Cryptocurrencies Scams workshop, organized by America's Federal Trade Commission (FTC), took place June 25 at the De Paul University in Chicago, Illinois. Devoted to educating the public on cryptocurrency scams, the consumer protection agency brought together law enforcement agencies, consumer groups, and private sector and research organizations in an event that was free and open to interested members of the public.

The workshop's organizers said in an official statment, 

As consumer interest in cryptocurrencies like Bitcoin has grown, scammers have become more active in this area. Reported scams include deceptive investment and business opportunities, bait-and-switch schemes, and deceptively marketed mining machines. The FTC has continued its efforts to educate consumers about cryptocurrencies and hold fraudsters accountable–FTC.

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In light of increasing fraudulent activities as of late, the workshop, which is part of FTC’s continuing effort to protect consumers interested in cryptocurrencies and other emerging financial technologies, shows an effort made by government agencies to take a proactive stance and work to increase customer awareness.  

 

Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.