The Observer analysts name the country with the highest number of crypto fraudsters

According to a joint study by The Observer and the Bureau of Investigative Journalism, cryptocurrency criminals are registering companies in the UK in large numbers, thus increasing confidence in fraudulent projects.

As it became known, there are at least 168 companies in the UK suspected of digital asset fraud. Fraudsters choose the United Kingdom because the country does not have a sufficiently developed legal framework to counter them. The investigation claims that the actual number of such organizations is likely to be much higher — the journalists only studied the lists of suspected shell companies and compared them with reports of fraud on the Internet.

It is noteworthy that more than half of the identified companies operate according to a standard scheme: when attackers gain the victim’s trust and convince them to invest their money in a fake crypto platform. In this case, after getting what they want, the fraudsters do not «lay down» but extract more money from the victim over a long period of time. Promising big profits.

The Observer report says that victims are most often found on social media or dating sites such as Tinder. At the same time, many of the deceived claim that registration in the UK gives credibility, and if the companies were registered elsewhere, they would be more skeptical. Registering a company in England costs only 12 pounds ($ 15) and does not require any identification.

However, the UK has already taken the problem of crypto fraud into account. As it became known in early January, the UK’s National Crime Agency (NCA) intends to form a special team to investigate crimes related to digital assets. The unit is called the National Cybercrime Unit (NCCU) Crypto Cell. Initially, the team will consist of five officers. Each specialist will receive a salary of $ 48,200 to $ 52,400 per month.