CRA bitcoin scam nabs $100,000 from Waterloo residents

Phone scam

Waterloo regional police are warning residents to be aware of Canada Revenue Agency (CRA) scams after eight people were scammed out of $100,000 CAD within a week.

According to police, the victims received calls from individuals claiming to be CRA representatives, who kept them on the phone for hours to convince them that they had outstanding taxes to pay. The victims were then instructed to deposit their money into bitcoin ATMs around the city.

Police say scammers can alter phone numbers to represent government agencies or businesses, including even the RCMP itself. Further, police note that government organizations don’t use Bitcoin, iTunes gift cards, prepaid credit cards or the like.

Police are also reminding residents to never share information like date of birth, social insurance number, banking details or addresses. Officers say they will never request such information through phone calls or text messages.

Anyone who has suffered a financial loss as the result of a scam can contact police at 519-570-9777. More information on avoiding scams can be found through the Canadian government’s official Anti-Fraud Centre website.

Via: CBC News