FCRA Warns Public of Imposters Claiming to Represent Its Agents [Washington, D.C.] — [9/2/2024] The Financial Crime Recovery Agency is issuing a warning to the public about an increase in reports of individuals falsely claiming to represent the agency. These imposters may contact individuals via phone calls, emails, text messages, or in person, often demanding … Read more
In the ever-evolving realm of financial markets, the proliferation of trading platform scams has become an alarming concern. The FCRA, unwavering in its commitment to financial security, delves into the tangible data surrounding trading platform scams both in the United States and on a global scale. This exploration encompasses enforcement numbers, victim restitution, and the … Read more
Ransomware is a form of malware designed to encrypt files on a device, rendering them and the systems that rely on them unusable. Malicious actors then demand ransom in exchange for decryption. Over time, malicious actors have adjusted their ransomware tactics to be more destructive and impactful and have also exfiltrated victim data and pressured … Read more
The spot forex market, clocking over $6.6 trillion daily trade as of April 2019, encompasses currency options and futures contracts.1 Within this vast market, where instantaneous over-the-counter trades occur sans regulation, forex scams pose a threat. Although stringent measures and the establishment of regulatory bodies have curbed many scams, persistent risks and frauds still linger. … Read more
Introduction In the intricate ecosystem of Blockchain transactions, the introduction of Replace-By-Fee (RBF) transactions has become a game-changer, offering a strategic solution to the challenges of stuck or frozen transactions. This article delves deep into the nuances of RBF transactions, exploring how they can be wielded as a powerful tool to release funds to victims … Read more
In the realm of financial security, the Financial Crimes Recovery Agency (FCRA) issues a vital advisory to the public regarding a growing threat: criminals attempting to recruit individuals as unwitting participants in illicit fund transfers. This deceptive practice, often termed a “financial shell game,” constitutes a form of money laundering and is unequivocally against the … Read more
The Financial Crimes Recovery Agency (FCRA) urges the public to conduct thorough research before engaging in over-the-counter foreign exchange (“forex”) trading, especially when dealing with potential fraud. As part of our commitment to consumer protection, we emphasize the importance of verifying the registration of dealers and their employees with all relevant bodies. This includes scrutinizing … Read more
Blockchain Fees and Law Enforcement’s Vital Role In the dynamic realm of cryptocurrencies, the intricate dance of transactions relies heavily on blockchain fees to maintain a seamless and efficient flow. Yet, there are instances where transactions encounter hurdles, requiring users to delve into the intricacies of special blockchain fees. This article aims to illuminate the … Read more
Romance scams, a deceitful web woven by fraudsters preying on genuine human connections, have surged in prevalence, leaving unsuspecting victims in financial and emotional turmoil. Recognizing and avoiding these scams is paramount in safeguarding one’s well-being. Here’s an in-depth exploration of the dynamics of romance scams and crucial strategies to shield yourself from falling victim. … Read more
What is Blockchain? Blockchain, the revolutionary technology behind cryptocurrencies like Bitcoin, has gained significant attention in recent years. It is a decentralized and transparent ledger that records and verifies transactions. But how does it work, and how does it differ from the traditional FIAT banking system? In a traditional banking system, transactions are validated and … Read more