Valery Lyakh, Director of the Department for Combating Unfair Practices at the Bank of Russia, announced that 60% of fraudulent payments in Russia are made in cryptocurrencies.
The top manager of the Central Bank noted that now the residents of Russia need to be extremely careful if counterparties offer to make payments in cryptocurrencies. Especially if they offer to deposit money in crypto assets, and then withdraw funds in fiat currency. In this case, it is necessary to conduct a comprehensive check of the company, including on the regulator’s website.
“Over the past six months, we have found that the majority of fraudulent transactions, about 60% of illegal financial transactions or payments in favor of financial pyramids, take place in cryptocurrencies. Cryptocurrencies have two main problems. First: the lack of an anti-money laundering tool, that is, in relation to the legalization of funds. Second: the lack of a tool for detecting manipulation in the course of trading. Therefore, cryptocurrencies cannot be considered as an investment tool,” said a representative of the Bank of Russia.
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