RCMP warn public of cryptocurrency scam Police

say Financial Crime Unit investigating several scam reports

RIVER VALLEY SUN

The New Brunswick RCMP warned New Brunswickers on April 3 that they may be the target of a potential investment scam involving cryptocurrency.

The release explained that in recent months, the New Brunswick RCMP’s Financial Crime Unit had investigated several reports of an investment scam involving cryptocurrency in which victims have sustained significant money losses.

Under the scam, the RCMP said, fraudsters contact victims by phone or text message, offering an opportunity to invest in cryptocurrency and promising a high rate of return.

Once the victim starts to transfer money, the fraudster entices them to continue to invest more through repeated communication.

The RCMP said the scam might even allow the victim to withdraw small amounts of their investment.

Once the victim asks for a more significant withdrawal, they are told to pay tax on their investment balance to have the funds released.

Once the victim sends the tax payment, they are told they will receive their money within 24 hours.

After this, the scammers make more excuses to convince the victim to send additional funds to the fraudster to release their investment.

Police said this would continue until the victim runs out of money or refuses to send more, at which point the fraudster stops all communication, and the victim never receives their withdrawal.

The RCMP release offered suggestions to help protect the public to protect themselves from investment scams:

— Get a second opinion from a trusted friend, lawyer or accountant.

— Know that timelimited or high-pressure offers are signs of a scam.

— Do your own research, and don’t trust website links sent to you by the person asking you to invest. plans with Director of Public Works and Utility Greg Stokes and other town officials.

— Visit the Canadian Anti-Fraud Centre’s website for more information on current frauds and scams.

The RCMP asks any victim of an investment scam, or any type of scam, to contact their local police department to file a report.

Information can also be provided anonymously through Crime Stoppers at 1-800-222TIPS (8477). You can also share information by downloading the secure P3 Mobile App, or by using the Secure Web Tips service at www.crimenb.ca.

The RCMP said the investigation is ongoing.

Following the meeting, Cox told the River Valley Sun he understands he has a role in securing access to his business and helping build a driveway, but he’s not interested in helping build town streets.

During the meeting, Garnett acknowledged Wallace Street needs significant upgrades regardless of the outcome of Cox’s plans.

Garnett said the rezoning request would come before council at a future date.

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