Canadian Police Warns Residents Against Bitcoin Scammers Posing As Revenue Department Officials

Just as Bitcoin is paving innumerable rags to riches story with its pricing prowess, it is also defrauding unsuspecting investors of their funds. Canadian Police department have recently issued a warning against a prevailing Bitcoin tax scam which has already attacked 40 York residents till date. York Regional Police exclaimed than Canadian dollars’ worth US$267000 was stolen from residents. A report published by CBC News described this grave happening exhaustively.

The fraudsters posed as employees of Canada Revenue Agency, the regulatory body looking after taxation hemisphere in Canada. These unscrupulous scammers threatened to arrest the victims for unpaid taxes and ordered them to complete their payment due using Bitcoin ATM’s.

Det. Const. Rob Vingerhoets of York’s Police department was hopeful of tracking down the fraudsters and recovering lost money as Bitcoin ATM’s are legitimate and in most cases usage of such leaves a trail behind. Reports of similar scams have towered in recent months. Combating such illicit crimes can only be possible by spreading proper public awareness in days to come. York police have been trying to do the same by placing flyers near bitcoin ATM’s so that general public comes to know more about such scams.

Vingerhoets pointed out that, “our main strategy, … [is] to stop people from becoming victims in the first place.” Such a news comes immediately after a similar notice was issued by Durham Regional Police Service in Ontario warning people against fraudulent investment schemes riding on Bitcoin mode.

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