Spain: CNMV warns of Covid-19’s rise in corona crime with cryptocurrencies

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The National Police, Civil Guard, Interpol and Europol have warned of the spread of fraud over the Internet due to the coronavirus pandemic. The CNMV explains the increase in financial fraud and warns against the indiscriminate use of cryptocurrencies for fraudulent purposes.

Different national, European and international police forces have come to the same conclusion, The Covid-19 pandemic has opened the escalation ban on financial fraud Without brakes, they were called Coronacrimes.

Interpol warned of this at the beginning of the global restriction. In this case, he was referring to medical devices, but the goal now is to stop online financial fraud.

Amounted to

It seems that the opinion that cybercrime has increased during the coronavirus pandemic is also shared with Europe’s main ally. The FBI has also explained this Cryptocurrency fraud has increased due to corona virusTherefore, there seems to be a consensus between different government agencies.

The CNMV declares cryptocurrencies to be the star product for online fraud

The National Securities Market Commission (CNMV), which oversees and inspects Spanish equity markets, says it may be too early to confirm that Covid has increased fraudulent financial activity due to the pandemic. 19, distances itself from the general rhetoric of the security authorities.

There have always been cases of fraud and phishing in Spain, which unfortunately are still very successful today.

Fraud Spain

However, the Spanish authority had a very direct opinion of cryptocurrency fraud. The CNMV said:

[…] recently the Star Fraud products are based on cryptocurrencies and generally on all types of crypto assetswith the curiosity that most of them are offered by companies called clones and are trying to attract customers with the same name as other fully legal entities who take advantage of their reputation

The financial regulator warns that these companies are trying to take advantage of the potential desperation of the population with ads that promise exponential profits.

Cryptocurrencies can be the remedy for some financial scams, although a large majority still operate with fiat money in the currency market and financial instruments like CFDs.

In the face of fraud, only public complaints are possible to fight them

BeInCrypto is on the side of users and potential victims who are trying to detect fraud, especially when it does Bitcoin

From this medium if we have First number of Covid-19 related Bitcoin fraud cases identified. In Spain, a notorious case was the ransomware attack, in which several Spanish hospitals suffered in the middle of a crisis and demanded a ransom payment with Bitcoin.

Coronavirus Bitcoin

Fraudsters are not people admired for their practices, but it must be admitted that they are full of creativity in their guild. BeInCrypto has uncovered several different cases, e.g. B. Threats to infect your family with Covid-19 on the computer, sell dummy vaccines, or use sex torsion.

You need to watch out for offers that are too tempting, and report suspicious emails to the authorities.



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As a leading blockchain and fintech news company, BeInCrypto always strives to comply with strict editorial guidelines and the highest journalistic standards. With this in mind, we always encourage and encourage readers to do their own research into the information provided in this article. This article is intended as news and is for informational purposes only. The topic of the article and the information provided may have an impact on the value of a digital or cryptocurrency asset, but is never intended. Likewise, the content of the article and the information contained therein do not intend and do not intend to provide sufficient information for a financial or investment decision. This article is not expressly intended as financial advice, it is not financial advice and should not be construed as financial advice. The content and information in this article have not been prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making an investment decision. The author of this article may have any amount of Bitcoin, cryptocurrencies, other digital currencies, or financial instruments at the time of writing, including but not limited to those listed in the content of this article.

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