Blockchain Or Cryptocurrency Fraudulent Investment Schemes

Blockchain or Cryptocurrency Fraud - Cryptocurrency Fraudulent Investment Schemes

The advent of blockchain technology and cryptocurrencies has resulted in sudden fortunes for more than a few individuals. At the same time, the technology and economics of the cryptocurrency space are confusing and not well understood by the general public. This creates an opportunity for scammers to exploit the public with a path to riches whose credibility is difficult to evaluate.

Apart from outright scams, our clients have also informed us of companies operating in the cryptocurrency space which have incorrectly requested funds on the basis of Canadian income tax or anti-money laundering compliance requirements. In addition to scams, investors in cryptocurrency need to be aware that the companies that they deal with may not understand Canadian tax or anti-money laundering compliance requirements.