Florida govt warns against auto warranty scammers asking crypto payments

The Florida Department of Agriculture and Consumer Services (FDACS) issued an alert discussing insights into identifying robocall scam marketing auto warranties, including being requested to cover the help via gift certificates and cryptocurrencies. 

Consumer complaints against growing robocall scams — in which scammers use prerecorded calls to promote then sell fraudulent services — brought the Enforcement Bureau to buy phone companies to prevent transporting robocall traffic.

Whatever the methods utilized by scammers to make contact with potential victims, the FDACS e-newsletter highlighted five warning flags that indicate scams.

Five warning flags for identifying scams. Source: fdacs.gov

Stressing on a few of the go-to payment methods frequently being suggested through the scammers, the announcement read:

“Payment Type: If you’re requested to pay for with a pre-balance credit card or cryptocurrency, it’s a gimmick.”

Additionally to asking Florida residents to avoid making crypto payments, the FDACS reiterated that no government officials would request private information, for example their Social Security or charge card figures, adding that “Only scammers will need certainly one of individuals types of payment, and when you signal the cash, you most likely won’t have it fixed.”

Even though the e-newsletter pointed out the impracticality of tracking lower crypto funds from online hackers, numerous corporations, including Velodrome and Curve Finance, have effectively retrieved stolen funds — because of the immutable nature of blockchain technology.

Related: US lawmakers ask Mark Zuckerberg to deal with ‘breeding ground’ for crypto scams: Report

On Sept. 5, U . s . States congressman Kaira Sherman — a properly-known crypto skeptic — acknowledged the rapid development of the crypto ecosystem, claiming that banning cryptocurrencies wasn’t any longer a choice.

Sherman mentioned that political donations and crypto lobbying make blanket banning cryptocurrencies impossible, adding that:

“We didn’t ban it at the start because we didn’t realize it was vital, so we didn’t ban it now because there’s money and power behind it.”

Most lawmakers, including Sherman, favor applying strict regulatory policies on crypto.

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