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CRA SCAM ALERTS: Cryptocurrency scam by phone

Phone scammers are specifically targeting individuals, claiming to be representatives of law enforcement agencies like the RCMP, and using fear tactics to coerce their victims into transferring money via cryptocurrency. They falsely assert that there is an outstanding warrant for the individual's arrest and insist on immediate payment to cancel it. It's crucial to be cautious and verify such claims independently, as legitimate law enforcement agencies do not demand cryptocurrency payments to resolve arrest warrants.

If you or someone you know has been targeted by a cryptocurrency scam by phone, it's important to take immediate action to protect yourself and report the incident. Here are some steps you can take:

  1. Do not engage further: Hang up the call and avoid any further communication with the scammer. Do not provide any personal or financial information.

  2. Report the scam: Contact your local law enforcement agency, such as the RCMP, and file a report. Provide them with all the details of the scam, including the phone number and any other relevant information.

  3. Inform your financial institution: If you have already transferred money to the scammer, notify your bank or cryptocurrency exchange immediately. They may be able to help you freeze or recover the funds.

  4. Educate yourself: Learn more about common scams and how to protect yourself from fraudsters. Stay informed about the latest techniques used by scammers to stay one step ahead.

Remember, it's crucial to remain vigilant and seek professional assistance when dealing with scams or suspicious activities involving cryptocurrencies.

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