In January 2025, members of the Niagara Regional Police Service (NRPS) started proactively attending cryptocurrency automated teller machine (ATM) locations to increase public awareness in the community in hope of reducing fraud.
Warning posters have been placed on cryptocurrency ATM machines/businesses throughout the Niagara Region to inform potential victims about fraudulent schemes.
While at a local business during the campaign, detectives observed an individual using a cryptocurrency ATM. During the conversation, it became evident that the individual was communicating with a fraudster and believed that their financial accounts were compromised. The scheme escalated when another fraudster impersonated a representative from the local Crown Attorney’s office, falsely claiming that an ongoing investigation required the victim to transfer funds to ensure their security. The victim believed the fraudulent claims and advised detectives that funds were previously sent through the cryptocurrency ATM on another date. Through the direct intervention of detectives during the campaign, an additional transfer of $10,000.00 was successfully prevented.
This incident highlights the importance of vigilance and the role of law enforcement in preventing further victimization. Fraudsters often exploit trust and fear, targeting individuals with sophisticated scams that can lead to devastating financial losses. Cryptocurrency transactions are irreversible, making it crucial to recognize and avoid scams before funds are transferred.
Resources for Potential Victims and Their Loved Ones
The NRPS encourages anyone who believes they are a victim of cryptocurrency fraud, or who knows someone who might be at risk, to take the following steps:
#24-6965
See photo.