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BBB Study: Cryptocurrency is ripe for fraud and financial loss

BBB Study: Cryptocurrency is ripe for fraud and financial loss

March 24, 2022 – Cryptocurrency is the hot new trend in investing, and much is still not understood about this buzzy, volatile digital payment system that does not rely on banks to verify transactions. This has created a fertile environment for scams, according to a new in-depth investigative study by Better Business Bureau (BBB), which states: “A virtual tug of war exists between the legitimate and fraudulent use of cryptocurrency.”

The study – Cryptocurrency scams: BBB study finds lack of regulation and consumer education results in dramatic increase in fraud and financial losses – examines the many facets of cryptocurrency and the variety of ways criminals are exploiting the cryptocurrency market to steal from investors and victims of common scams. Read the full study here.

Cryptocurrency is a form of digital money whereby encryption technology can enable…

Read Full Story: https://www.wcsmradio.com/index.php/news/66654/59/BBB-Study-Cryptocurrency-is-ripe-for-fraud-and-financial-loss

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