Swedish cops get crypto lessons

Cops in Sweden have attended a seminar on cryptocurrency crime and compliance hosted by Swedish exchange BTCX.

Regional police forces attended a meeting at the National Centre for Fraud Prevention for a presentation on crypto compliance from BTCX employee David Söderberg.

Law enforcement agencies across the world are scrambling to get to grips with crypto fraud after a rash of recent high-profile scams.

BTCX’s Oskar Söderström said: “We’re very happy with how our cooperation with the Police Authority has worked through the years.

“BTCX is working hard to make sure that our exchange platform is free from any sort of crime and we intervene as soon as we suspect any irregularities.”

BTCX COO Christoffer De Geer urged police agencies to get in touch if they want to learn about crypto crime.

“It is an essential part of our work to make Bitcoin more accessible and usable,” he said.

“All the authorities interested in similar education are very welcome to contact us.”

Just last week, Thai cops began a probe into an alleged cryptocurrency pyramid scheme which defrauded investors out of 75 million baht (around $2.4 million).

According to local news outlet the Bangkok Post, the scheme, which ran throughout 2018, promised investors phenomenal returns through cryptocurrency trading.

Victims were urged to invest at least 100,000 baht (around $3,200) into the scheme, which fraudsters promised would grow by 8,000 baht per week.

A Belgian financial watchdog has revealed that cryptocurrency scams are on the rise and is warning investors to be wary.

The Belgian Financial Services and Markets Authority (FSMA) recently updated its list of known cryptocurrency investment scams.

The number of fraudulent websites known to exploit trusting victims has risen to 131.