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Description

FBI Crypto App Fraud Warning issued

On 18 July 2022, the US Federal Bureau of Investigations (FBI) issued a warning to financial institutions and investors regarding fraudulent cryptocurrency apps. In the warning, the FBI estimates the losses from crypto app-based fraud at over USD 42 million and describes how some of the scams occurred. Further, it issued recommendations to both financial institutions and investors about measures to take to avoid such fraud and ways to report it.

Original source

Scope

Policy Area
Other operating conditions
Policy Instrument
User/subject right
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body

Complete timeline of this policy change

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2022-07-18
adopted

On 18 July 2022, the US Federal Bureau of Investigations (FBI) issued a warning to financial instit…