Scam targets cryptocurrency investors: Alberta Securities Commission

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Scammers pretending to be from the Alberta Securities Commission are preying on people who have lost money in cryptocurrency investments, the regulator warns.

The commission has received complaints from people saying they’ve received unsolicited calls from someone who claimed to work for the ASC.

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“In each instance, the person who received the call had previously lost money in an offshore crypto-related investment,” the regulator said in a media statement released Tuesday. “We believe that the individuals claiming to be ASC staff may be operating a recovery room scam, in an attempt to re-victimize investors who have already lost money.”

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The ASC doesn’t ask people to send money, promote organizations that claim to recover lost funds, or initiate unsolicited communications requesting payment or personal banking information, the regulator said.

Anyone who’s contacted by a caller claiming to be from the ASC is asked to contact the commission’s public information officer by phone at 403-355-4151 or 1-877-355-4488, or via email at inquiries@asc.ca.

The ASC’s warning comes on the heels of a report released Monday by the Financial Transactions and Reports Analysis Centre of Canada, which determined criminals are increasingly turning to cryptocurrency to hide their transactions and bypass traditional banking.

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