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SACRAMENTO – The Division of Monetary Safety and Innovation (DFPI) introduced as we speak that it has launched the DFPI Crypto Scam Tracker to assist Californians spot and keep away from crypto scams. The tracker particulars obvious crypto scams recognized via a evaluate of complaints submitted by the general public and permits California customers and buyers to do their very own analysis and forestall hurt to themselves and others.
“Scammers are within the shadows utilizing the general public’s curiosity in crypto belongings to reap the benefits of essentially the most susceptible Californians. Via the brand new Crypto Rip-off Tracker, mixed with rigorous enforcement efforts, the DFPI is dedicated to shining a light-weight on these ruthless predators and defending customers and buyers,” stated DFPI Commissioner Clothilde Hewlett.
The Crypto Scam Tracker is a database that’s searchable by firm identify, rip-off kind, or key phrases to study extra in regards to the crypto particular complaints the DFPI has obtained. An accompanying glossary goals to assist customers higher perceive widespread scams. As stories of recent crypto scams emerge, the DFPI will frequently replace this tracker to promptly alert and shield the general public.
The DFPI receives 1000’s of client and investor complaints every year. The tracker’s content material relies on data reported by members of the general public to the DFPI. The DFPI has not verified the losses reported by complainants.
Imposter Scams
Imposter scams are among the many most reported to the DFPI and sometimes essentially the most tough for customers to detect. With these scams, unlicensed or fictitious firms lure unsuspecting people to their web sites utilizing names that sound just like these of different, authentic firms or web sites within the market.
When firms or web sites (pretend or not) have look- or sound-alike names, the potential confusion created for customers is actual. Trying to reap the benefits of such confusion is a tactic employed by some unhealthy actors trying to revenue from unsuspecting customers. One of the simplest ways to keep away from falling sufferer to a phony firm or web site is to do analysis on the corporate earlier than you make investments or ship cash.
Report Scams to DFPI
When you’ve got been a sufferer of a rip-off or fraud, otherwise you find out about a rip-off that’s at the moment not listed on the Rip-off Tracker, tell us instantly by filing a complaint with the DFPI on-line (dfpi.ca.gov/file-a-complaint) or calling toll-free at (866) 275-2677.
The Division of Monetary Safety and Innovation protects customers, regulates monetary providers, and fosters accountable innovation. DFPI protects customers by establishing and implementing monetary rules that promote transparency and accountability. We empower all Californians to entry a good and equitable monetary market via training and stopping potential dangers, fraud, and abuse. Be taught extra at dfpi.ca.gov.
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