How to detect cyrpto scammers?
Detection of people who want to commit fraud or fraud through crypto is faster and easier than other financial models.
Cyrpto scamming is growing day by day. Binance compliance team members, who work shoulder to shoulder with law enforcement agencies in many countries to make the crypto world safer, shared their unique experiences by working in different parts of the world.
Crypto offers transparency
According to the statements of Binance Global Intelligence and Investigation Manager Matt Price, who took part in the study prepared as a 6-part video series; One of the biggest myths about crypto is that crypto is anonymous and allows for illegal activities. However, the reality is exactly the opposite. In this context, all transactions made on crypto are publicly and permanently recorded. This makes it very convenient for the investigators. Contrary to traditional financial sector investigations; The transparency of crypto makes it easy to detect malicious people.
Binance Europe, Middle East and North Africa Regional Manager Richard Teng underlines that there are exaggerated negative news, especially in the traditional media, as an area where crypto is sometimes made up of illegal funds. However, money laundering in the crypto world is not that easy. In this context, while approximately 800 billion USD to 2 trillion USD is laundered in the fiat money field, it is seen that the amount is only 0.03% of the fiat money field in crypto. Teng states that this ratio is rather “microscopic” compared to fiat money. Tigran Gambaryan, Binance Financial Crimes Compliance Manager, also states that crypto is the worst way to launder money. Because cryptocurrency offers unprecedented transparency in transactions and allows law enforcement to do their job more efficiently.
