13 Month Fraud Term Given to Former Olympian

It looks like fraud is really making a big impact on everyone these days, with more people getting involved in fraud with or without their own doing. It seems like no matter how many tips to avoid fraud you know about, fraudsters will find a way to make you a fraud victim.

Silent Sentencing

The above is true in the case of former Olympian Harold Backer who was charged with fraud over $5,000 after pleading guilty to the charges against him. No word was shared why he went mysteriously missing for 18 months though it led to an international police search.

Backer’s lawyer, Joven Narwal spoke for him in the court because the former Olympian opted not to speak a word. His lawyer said that Backer, 55, is extremely sorry about his conduct and has nothing to say.

Olympian Turned Fraudster?

Backer graduated from Princeton University and has been in the Olympics thrice. He was charged with 2 counts of fraud over $5,000. He initially pleaded not guilty to the charges but changed his plea to guilty for a single charge of fraud over $5,000. He was also given 3 years of probation by Judge Carmen Rogers and he agreed to pay a restitution amounting to $161,900 to 5 individuals. He was observed to be quite emotional during his sentencing, hugging his children and his brother prior to being led to court.

What Happened?

Backer went missing after telling his family that he will be going for a bike ride on the 3rd of November 2015. He turned himself in in April 2017 to Victoria police and had not touched the topic of where he has been for the year and a half that he’s been missing.

During the sentencing, no word of Mr. Backer’s was mentioned and the Counsel specifically said that they are only concerned about what happened between May 2013 and November 2015 as this was the time frame wherein Backer committed his offences. Defence lawyer Joven Narwal said that his client’s disappearance has nothing to do with his offences. Victoria police stated that they are offering no comment regarding the disappearance either.

Soon after Backer’s disappearance, an officer said he spotted a man fitting Backer’s description getting into a ferry, taking a 90-minute trip. At around the same time, financial crime investigators began looking into Harold Backer and his company My Financial Backer Corp. after his investors received concerning letters.

His lawyer said that Backer never intended to defraud his investors and that he cared deeply for them. It was a matter of investments not performing as he hoped they would and he felt that he let down a lot of people.

With doctors and even military officials getting involved in fraud, it is not a huge surprise that a former Olympian was too, no matter what the intentions are. What matters is to arm yourself with knowledge regarding fraud in Canada so you can take the necessary steps to protect yourself against fraud. Another is to be proactive in dealing with fraud by hiring a private investigator to help you get to the truth. Contact us if you need to consult professionals about handling fraud.

Canada’s Longest Fraud Sentence Handed to Financial Predator Daniel Reeve

A sentence of 14 years in person for fraud was recently handed to Daniel P. Reeve for defrauding 41 vulnerable individuals out of about $10 million – the harshest and longest fraud-related prison sentence to date given in Canada.

Justice Served

The verdict was given by Justice Toni Skarica to former Waterloo Region financial adviser Daniel P. Reeve, who’ve fleeced more than 40 individuals who have little to no investing experience out of their hard-earned $10 million. The justice reportedly said that if it was legally possible to give a longer sentence, it would have been done for this case, indirectly saying that even 14 years (the longest fraud sentence ever served in Canada) is still not enough.

Reeve still has 4 years to serve as the 6 years he served in pretrial custody was credited as 10 years prison time. He is facing another 10 year jail time if he is not able to pay back the 10 million fine within 10 years of being out the prison. The fine will go to his victims. Reeve, who is now 58, claims to be broke.

Preying on the Vulnerable

What made Reeve’s actions more despicable is that he seemed to target the vulnerable. Justice Skarica shared that one of the victims was a then recently widowed woman who Reeve promised to assist in hard times but ended up swindling out of her personal savings and her husband’s RRSP.

Many of Reeve’s victims lost everything as a consequence of listening to him. Some were not able to pay their mortgage, some got depressed, some even divorced because of the strain of financial difficulties.

Justice Skarica said that Reeve sought out grieving spouses, the elderly, the disabled, loyal clients, the emotionally vulnerable, strangers, and even his close friends to be victims in his scheme. The justice likened Reeve’s actions to that of a predator, as he hunted down those who can easily fall victim to him.

A Clear Warning

14 years for fraud is more time than some murderers spend in prison. Crown prosecutor Fraser McCracken shared that Reeve’s prison sentence is without a doubt, the longest one for fraud in Canada. He hopes that this will shed light on the plight of those who fall victim and serve as a warning to all those who wish to commit fraud.

Reeve’s predatory scheme is a mix of Ponzi schemes and scams, according to justice Skarica. Reeve did it to fund his lavish lifestyle and boost his ego. Reeve reportedly often used a stretch limo while serving as DRP Financial Inc’s ‘chief visionary officer’. He also reportedly owned a Porsche Boxster, 2 Cadillac Escalades, a Jaquar Land Rover, and expensive suits all while living in a lavish farmhouse. He was able to pull off his scams while still offering financial advice despite losing his financial adviser licence in 2007.

Reeve showed no emotion upon hearing of the havoc his actions brought to the lives of his victims. He apologized but did not show remorse.

Fraud victims are in the thousands per year in the Greater Toronto Area alone. Exposing fraudsters and getting help from authorities isn’t as easy as well because you’ll have to be certain that fraud exists. If you need help uncovering fraud or exploring what you can do to protect yourself, don’t hesitate to contact us for an obligation-free initial consultation.

Stay Safe from Fraud While Traveling with These 8 Tips

Travelers are often targeted for fraud, from booking airline and hotel tickets, to being defrauded on the ground. One of the biggest issues with travel fraud is identity theft. It is no secret that websites store personal information and those with enough know-how can easily access them. Identity theft can occur in a variety of ways and can create years of torment once dishonest individuals have your data. Below are the ways you can protect your information while traveling.

Refrain from sharing your itinerary or location in social media

Statistics say that less than a third of all travelers refrain from posting their travel details while traveling. The danger in this is that thieves and stalkers will know where you are and what you are up to. If you must share, do it after.

Don’t use public WiFi

Some hackers are always logged-on to public WiFi and just waiting for a chance to hack into your device and steal your data. If you must use public WiFi, then avoid logging in to your bank account or other financial accounts. Better yet, purchase a local sim card and create your own hotspot!

Bring only the absolute essentials and keep other valuables in a safe place

Why bring your social security card, driver’s license, and birth certificate when traveling? Just bring your passport and one or two credit cards. Leave the rest in a safe place at home.

Activate tracking tools on your phone and add a password

Think about it, a thief will easily have access to your most personal information and photos and videos if your phone gets stolen, so make it a bit harder for thieves to access your personal phone data by adding a password. If your phone has a tracking feature or a feature that will allow you to erase everything on the device remotely, be sure to turn that on too to be on the safe side.

Know exactly what important things you brought with you

Keep a list of the cards and documents you brought so you’d know exactly what to protect and who to call if your phone, wallet, or luggage gets stolen or goes missing. Remember that when it comes to preventing identity theft and use of your credit cards, your prompt action is a key factor!

Keep your home safe while you’re away

Stop your mail delivery to prevent an overflowing mailbox and schedule a time for trusted persons to maintain your lawn or check into your house. Basically you want it to look like you didn’t leave especially if you’ll be away for weeks.

Keep a close eye on your bank and credit card reports

Thieves who got your data can get away with plundering your money because you weren’t fast enough to know what they were up to. By monitoring financial transactions, you’ll know exactly when your account has been compromised if it does happen.

Avoid being a walking target

When you’re away, dishonest people can scam your relatives asking for money claiming to be you, all because you’ve made yourself and your loved ones a target for fraud. If bad people know where you are, they can use that information to steal from your loved ones by pretending to be you stuck abroad and can’t access your own account. Your elderly relatives are particularly targeted for this type of scam because they’ll surely send ‘help’ as soon as they can, not knowing that they’re just being taken for a ride.

With majority of victims (55%) saying that it took more than a year to reclaim their stolen identity, it pays to be extra careful when traveling. If you think that your details may have been compromised, contact us to discuss what actions we can help you with using our personal investigation services.

 

Personal Injury Law Firm Accused of Filing Fraudulent Accident Claims

Over $1.5M of false benefits, this is what the TTC is trying to claim from a Scarborough personal injury law firm after the law firm allegedly doctored the benefit claims of streetcar and bus collision victims.

Fraud Uncovered?

TTC accused a law firm for falsifying records so that they can claim payments for housekeeping, home care, and other services that were never rendered to the accident victims. The TTC, together with their in-house insurance company stated their claim on January 24, 2017 against the law firm of Meleni David for allegedly falsifying records to claim fake expenses.

The law firm filed their defence in April 2017 with the company, David herself, and an employee as co-defendant stating that they deny engaging in unlawful scheme and added that TTC’s claims are excessive, exaggerated, and remote; therefore the court should dismiss the case.

TTC Fires Back

The TTC allegedly found evidence that fraudulent claims were connected to 13 of the firm’s clients who got into accidents between 2005 and 2014. TTC shared that they made a total of $654,553 in payments for the clients but did not share the exact amount involved in the fraud.

TTC stated in their claim that they grew suspicious in 2015 when they found fake documents in a claim handled by Meleni David’s law firm, a law firm that advertises TTC Accident as a key area of their practice.

In relation to the above, a former legal assistant at David’s firm admitted to forging signatures on invoices for home care services for an accident victim though the legal assistant stated that David wasn’t aware of what he did. The same legal assistant is also being sued by the TTC but he denied involvement in other false claims and also denied involvement in the scheme uncovered by TTC. David’s statement of defence stated that she fired the assistant as soon as she discovered the forged signatures and inappropriate handling of invoices.

Was There Fraud?

The TTC says that their discovery of the inconsistencies in the file is what lead to their in-house insurance provider’s review of the other claims handled by David’s law firm. After their review, the TTC allegedly found demonstrably forged invoices in more than half of the files they’ve audited prompting then to charge the law firm for scamming them by making claimants sign blank invoice forms for expenses such as home care, housekeeping, and other services. The invoices were then signed by fabricated suppliers and service providers and then submitted to TTC’s insurance company to claim reimbursement.

The TTC also shared that further investigation lead to them finding out that the victims did not receive the services that were allegedly rendered to them. This case is currently undergoing litigation with no set date for a trial.

Do you suspect fraud at work or fraud at your business? We can get you answers. Contact us for our private investigation services and we’ll get back to you asap regarding how we can be of best assistance to you.

Toronto Immigration Consultant Receives a 7-Year Jail Sentence for Fraud

Immigration consultant Angelina Codina was given a 7-year jail sentence when she was convicted of fraud for scamming thousands of dollars from former clients. The court also ordered her to pay back the $30,000 she got from her former clients.

Immigration Fraud

Angelina Codina targeted folks in Canada who were trying to get their relatives in the country. The clients paid Codina thousands of dollars over a period of 3 years for her assistance in helping their relatives immigrate to Canada. It was soon uncovered that she was running a fraudulent immigration scheme and was defrauding multiple clients.

Convicted for Fraud

60 year old Angelina Codina from Toronto was found guilty of 5 offences under the November 2017 Federal Immigration and Refugee Protection Act. She’s due to serve another 5 years considering the time she already served in custody. She was also ordered to pay more than $30,000 to 4 former clients that she allegedly defrauded for money. She is planning to appeal the sentence given to her.

Angelina Codina was convicted of 1 count of misrepresenting facts on an immigration application and 4 counts of advising clients on immigration matters without proper authorization. The Crown stated that Codina acted as a fraudulent immigration consultant and willfully targeted 10 vulnerable individuals between September 2011 and January 2014, making false promises to said individuals that she’ll be able to get their relatives in Canada.

The Ontario Superior Court was asked by Crown prosecutor Lynda Trefler to fine Codina $100,000 and to sentence her to 11 years in prison aside from paying her victims $30,200 each as restitution. This in view of the maximum 3 years penalty for lying on an immigration application and 2 years maximum punishment for unlawfully advising people on immigration matters. Trefler also voiced out that Codina’s behaviour has impacted both immigration and society aside from her victims.

Timely Arrest

Codina was arrested 4 years ago in May 2014 by Canada Border Services Agency. She has represented herself during the trial despite having been disbarred in 2002 and insisted on her innocence for all counts filed against her. She has records for swindling people in the past.

Codina was convicted of fraud and falsification of documents for stealing $20,000 from Ontario’s legal aid plan in 1997. The Law Society of Upper Canada disbarred her in 2002. She also has records for conviction of grand larceny in 2000 for practicing law without a license in New York, USA and providing attorney services to 11 paying clients from 1996 to 1999 through fraudulent law firm Codina Partners International in NYC. She was released for this in November 2009 although her sentence was an aggregate term of 5 to 15 years imprisonment.

Codina maintains innocence about her immigration fraud charges and says she was only acting as a conduit between her clients and immigration lawyers, even after multiple cases filed against her in small claims court.

Foreigners and immigrants are usually targeted for scams in Canada because they are perceived to be easy pickings for scammers. It pays to be updated and know how to protect yourself against scams. If something is too good to be true, you may consult with private investigators like us to get the real deal on the truth and know more tips to avoid fraud. Contact us today!

8 Tips to Avoid Fraud

Millions of people are defrauded by inventive crooks every year, resulting to huge losses for both direct and indirect victims of fraud. To make this possible, fraudsters create ways to use old tricks and new technology to steal money, information, and other valuables from people. Avoid falling to victim to their schemes by brushing up on our 8 tips to avoid fraud.

Keep Updated with Scam Alerts

Either follow blogs that talk about the newest scams (like ours) or sign up for free scam alerts at government websites. This way, you’ll be informed of new schemes as authorities get wind of them.

Don’t Entertain Recorded Calls

Recorded calls or robocalls are illegal, not to mention that whatever they are selling or talking about is often bogus. Simply hang up and report the call to the right authorities and avoid prolonging the call or clicking on an option to talk to a real person. An opt out action is simply a way to get you to divulge personal information.

Be Wary of Imposters

Not everyone who calls you, texts you, or emails you are who they claim to be. Fraudsters often claim to be a trusted person such as a family member, a government official, a company you transact with, or even a charity in order for them to get your personal information or for you to send them money. A common scheme is pretending to be someone you know stuck in a foreign land and in need of funds right away. If in doubt, call, text, or email the other party using the contact details they usually use.

Do Your Research

If you’re offered something that seems too good to be true, it won’t hurt to search online for reviews, a scam, feedback, or anything that describes your situation. Consult with someone. You’ll be thankful you did.

Beware of Free Trial Fraud

A lot of businesses offer a free trial to get you to sign up and provide your credit card details. Once they have your details, they’ll charge you until you cancel or they can have a cancellation policy that requires payment. Not worth your headache.

Be Skeptical of Caller ID Details

Caller ID can be faked (just like email addresses) so if a certain company called you to ask for sensitive information, it would be safer to hang up and call them using their official number listed on their website.

Review Your Payment Methods

If a service or a company wants you to pay via means that offer nearly no way to get your money back (such as via reloadable cards or moneygram), they’re usually up to no good. A legitimate business will have no trouble setting up options for encrypted payment using credit card.

Stay Away from Cheque Schemes

If someone wants you to deposit a cheque on their behalf but wants to use your own account to encash and send them the money, there is a huge chance the cheque is fake. Fake cheques on your account will have to be repaid by you.

Avoiding fraud is easier now more than ever by having the right mindset and seeking expert help from professionals (such as a private investigator) when needed. Contact us should you be in need of private investigation services.

All in the Family – $12.5M Insider Lottery Scam

Winning the lottery is a dream come true for many individuals, but what do you do when a lottery outlet steals your winning ticket after validation?

3 Arrested and Found Guilty

3 members of the Chung family were arrested and found guilty of a lottery scam that netted them $12.5 million. The deception took a few years to come to a resolution.

Variety Plus in Burlington manager Kenneth Chung and his father, Jun-Chul conspired to pull off a scheme wherein they would steal and encash winning lottery tickets more than a decade ago. They stole tickets during an 8 month period that only ended in early 2004.

One of Jun-Chul’s stolen lottery tickets was the winning ticket for a Super 7 lottery worth $12.5 million. His daughter, Kathleen, was the person who claimed the winnings. They’ve been both convicted of possessing a stolen ticket and scamming the OLG.

It is to be noted that all 3 members of the Chung family who were involved in the lottery scam were cleared of trying to hide the money they stole in South Korean bank accounts.

Caught Red Handed

Kathleen Chung cashed the winning ticket at the convenience store managed by her brother, prompting an examination after several other insider wins. The police launched an investigation which led to the arrest of the 3 Chung family members in 2010.

The police seized family assets that are believed to have been bought using the stolen lottery winnings. The assets seized included 2 homes, 5 luxury vehicles, bank accounts, 3 commercial properties, and personal properties such as jewelry.

Rightful Winners Revealed

The OLG found out that a man named Daniel Campbell is the rightful owner of the winning ticket with a few other persons. Jun-Chul Chung was found to have kept one of the tickets that belonged to Campbell after validating it and seeing that it won $12.5 million in December 2003.

Jun-Chul then gave the ticket to his daughter Kathleen Chung for claiming at the OLG office in February 2004 but when Kathleen did so, said that she cannot remember where she bought her winning ticket. She ended up admitting that the manager and owner of the variety store where her ticket was checked is her brother but maintained that she bought it elsewhere. The OLG had suspicions but decided to pay out Kathleen’s claim in December 2004.

Later investigations revealed that Kathleen wasn’t where she claimed she bought the ticket at the correct time, which was supported by her phone records and the OLG’s computer files.

The winnings were given to the rightful winners 7 years after Kathleen’s fraudulent claim. The OLG is suing to recover the fraudulent payout. Sentencing is at the 3rd quarter of this year.

Scams and fraud are everywhere these days. It pays to be aware of both digital scams and fraud trends to avoid falling victim and to ensure that you’ll take the right actions should they happen to you. Make sure that you get your details right and seek the help of professional private investigators if needed. We’d be happy to schedule a consult with you.

Windsor Doctor Punished for Fraud and Improper Prescribing

A respectable-looking and experienced doctor is the last person you’d probably think of to be involved in fraud and that may be the reason why thousands of patients trusted Dr. Thomas Joseph Barnard with their health.

Dr. Barnard’s practice in Ontario has some limitations. He’s not to practise family medicine as well as prescribe narcotic drugs. His office is only supposed to provide cosmetic and aesthetic services plus nutritional counselling but he’s been found to do more than what he is legally allowed to.

Ghosts from the Past

The Star did some digging and found out that there are 8 sanctions in California, Michigan, and Ontario for Dr. Barnard. The sanctions go back more than 10 years and are for offences such as signs of incompetence, improper prescribing, and failing to disclose (of a pending license application). One fraud in Ontario remained hidden to the CPSO (the College of Physicians and Surgeons in Ontario) for almost a year; it was a fraud under the Health Insurance Act.

All of the above are quite shocking and difficult to believe because Barnard is one of the most disciplined physicians in the Star’s list which was a result of an analysis of 159 cross-border doctors who have sanctions in their records. Barnard still holds licenses in Michigan and Ontario as a family physician.

Another alarming detail is that none of Dr. Barnard’s profiles list the information that the Star was able to uncover. This shows that there are weaknesses in the North American regulatory system that allow certain individuals with sanctions to practice as professionals elsewhere where no one knows their history. Dr. Barnard had made it clear that he wishes not to share his thoughts regarding what the Star published.

Long History

Dr. Barnard has been licensed in Ontario since 1980 but his first appearance before the college’s disciplinary committee didn’t occur until the 28th of November 2006 after he was investigated for allegedly charging patients for uninsured services and giving some of them gold member cards that made them believe they were receiving some special service. Barnard didn’t dispute these allegations and he was fined $2,500 plus suspended for 2 months as a result.

Prior to the above hearing, he applied for a License in Michigan and was approved because he did not have any record at the time of his application (which was 6 days prior to his hearing). He was able to practice in Michigan for a decade without being found out. He was only found out in Michigan in 2014 when his 2006 Ontario suspension came to light following an investigation for a separate case.

More charges followed the Ontario one, with fraudulent OHIP billings charged in 2010, new offences in 2012, and more similar acts uncovered and investigated in the next 5 years.

Barnard has a roster of more than 25,000 patients over the years and has records of malpractice in both the U.S. and Canada. Part of the reason why these things are only coming to light these days is because records of disciplinary actions and malpractice payments are not available to the public.

Medical fraud and doctors involved in fraud are not ‘new’ these days. If you or someone you care about has been a target for fraud, feel free to contact us to avail of our private investigation services.

 

Beware of these 3 Digital Scams

Fraud in Canada has been a problem for quite a while, but it is now growing stronger than ever as the digital age provides fraudsters with more ways to commit fraud. Digital fraud used to be just confined to identity theft via phishing but these days there’s smishing, shimmers, and tech-support fraud to be wary about too.

Do you know that more than $405 million were lost by Canadians to scammers from 2014 to 2017? That is alarming, more so that $94 million of the losses were scammed from Canadians who are between 60 and 79 years of age. Scammers will stop at nothing to invent new ways of stealing information. The most common ones to look out for are discussed below.

Smishing and What It Is

Phishing via SMS is called smishing. Smishing is a form of information theft wherein fraudsters pretend to be legitimate institutions via text in order for victims to respond with their personal information.

The most common smishing scams start with a fake text informing the targeted individuals that there are problems with their accounts and that a call is needed to sort things out. During the call, victims are asked for personal details that the scammers can use to hack accounts or to steal either more information or money.

Smishing is easy to avoid. Simply ignore suspicious texts and if concerned, call your institutions’ web-listed contact number from another phone.

Tech-Support Fraud and What It Is

Tech-support fraud usually begins when scammers use malware to freeze a computer and initiating a pop-up warning that tech-support must be called right away. The warning pop-up may look like a legitimate one from your internet browser, antivirus software, or device manufacturer but is actually a message planted with a scamming software.

Upon initiating a call, the scammer might tell you that you have to pay a certain amount before your device can be fixed or that you’ll have to provide remote access so the scammer can control your device remotely. Anything can happen from here, including blackmail.

Shimmers and What They Are

Upgrade credit card skimmers and you’ll get shimmers. They are devices that are made smaller and more challenging to detect than credit card skimmers and one of the newest tools in scammers’ arsenal.

Shimmers are generally installed into gas pump card readers and ATM machines by scammers in Canada but they can be installed anywhere that will let them read and record your data from your chip-embedded bank cards.

Shimmers are often very thin and can fit almost undetected inside a card reader. Installing them is easy for scammers as some machines that use card readers are not inspected frequently.

To be on the safer side, use machines installed in banks and avoid ones in convenience stores or small establishments. It is better to take precautions than to be sorry later.

Have you had a problem with shimmers, smishing, or tech-support fraud? Contact Haywood Hunt & Associates to avail of our investigative services. Whether you are an individual or a corporation, you’ll surely benefit from what we can do to help you combat fraud.

Top 5 Bitcoin Scams to Avoid

Bitcoin is a digital currency that was created to make paying for things a lot easier, but things didn’t end up like that. Today, Bitcoin is being used and abused by scammers worldwide. While there is blockchain that is meant to protect Bitcoin, it is clearly not enough to protect most people from Bitcoin scams. Below are the 5 worst Bitcoin scams that you must avoid at all cost and how they were used to scam people.

Bitcoin Gold and Stolen Bitcoins

Bitcoin gold was supposed to be another cryptocurrency, different in some aspects but also uses the Bitcoin brand. The issue with it started when techy scammers created a very convincing website that promised to give out Bitcoin gold wallets to people who would give them the keys to access their cryptocurrency wallets.

People fell for this Bitcoin scam and they fell hard. The scammers carted off about $3 million Bitcoins plus other cryptocurrencies. The scam was so convincing that even the creators of Bitcoin cold advertised the scammers’ website, mybtgwallet.com on their site.

Mt. Gox Bitcoin Crash

Mt. Gox was a Tokyo-based Bitcoin exchange that used to process the majority of Bitcoin transactions from everywhere in the world and people though it was very safe. The bad news is, Mt. Gox isn’t as safe as people thought and that it was also ridden with fraud, corruption, embezzlement, and a mountain heap of tangled mistakes.

Mt. Gox filed for bankruptcy and announced that they’ve lost $450 million worth of Bitcoins at the time which is about $8 billion in Bitcoin value these days. This resulted in a massive crash and the full story evades the light of truth to this day.

Canadian Bitcoins Scam

Canadian Bitcoins used to be an exchange that is used to manage Bitcoins for investors in Canada but perhaps their biggest mistake was leasing some space at the Rogers Data Centre for some of their important data. One day, a scammer sent an email to the Rogers Data Centre and claimed to be Canada Bitcoins CEO, asking for security codes. Long story short, Rogers Data sent the security codes to the scammer without verifying who the email really came from. The scammers were able to get away with $100,000 worth of Bitcoins.

The Silk Road Email Trap

Silk Road is a site belonging to the Tor Network. While it wasn’t created to be a scam, it was used by many to peddle drugs and other illegal items on the Dark Web. When Silk Road was taken down by the FBI, Bitcoin was able to secure a better position as a legitimate cryptocurrency but then the government chose to auction the Bitcoins they seized from Silk Road and in so doing, made a BCC mistake in the email they sent to potential participants. Scammers copied the list of those interested and the rest is history.

Optioment Scam

An optioment scam is a fraud that looks like they’re offering an opportunity for buying cryptocurrency but is in reality just another investment fraud. Beware of fraudulent web companies posing as a new business with promises that are too good to be true.

Know that Bitcoin scams are just a small portion of the cyber security issues everyone is facing these days. It pays to not only be aware of cyber security threats, but also have effective measures to combat them. If you need help with this, contact us and we’ll see what we can do for you.