Montgomery County Warns of Cryptocurrency Scams

The Montgomery County Office of Consumer Protection (OCP) has issued a warning about cryptocurrency scams, releasing a new episode of its Consumer Connection podcast that provides an in-depth look at how fraudsters use cryptocurrency to steal money. The episode, featuring a special guest from the FBI, highlights the tactics used by scammers and the importance of being cautious when dealing with cryptocurrency investments. The podcast also discusses the national FBI initiative, "Operation Level Up," which has prevented millions of dollars in losses and helped thousands of potential scam victims.

Key Takeaways:

• The Montgomery County Office of Consumer Protection has released a new episode of its Consumer Connection podcast, titled "Inside Cryptocurrency Scams with the FBI," which explores how fraudsters use cryptocurrency to steal money through fake investments, impersonation scams, and high-pressure tactics.
• The episode features special guest David Paniwozik, a special agent with the FBI's Baltimore Field Office, who shares how scammers build trust, mirror personal details, and exploit relationships to drain victims' accounts.
• "Operation Level Up," a national FBI initiative, has prevented millions of dollars in losses and helped thousands of potential scam victims.
• OCP Investigator Michelle Escobar emphasizes the importance of being cautious with cryptocurrency investments and encourages listeners to talk to someone they trust before sending money.
• The podcast is available on the OCP website and major podcast platforms, including Apple Podcasts, Spotify, and Amazon Music.

Statistics:

• Millions of dollars in losses have been prevented by the national FBI initiative, "Operation Level Up."
• Thousands of potential scam victims have been helped by the initiative.
• The Montgomery County Office of Consumer Protection has produced over 10 episodes of its Consumer Connection podcast, exploring topics such as financial transitions, imposter scams, and safe shopping.

Sources:

• The Montgomery County Office of Consumer Protection press release, no date.

* "Inside Cryptocurrency Scams with the FBI," Consumer Connection podcast.

• "Operation Level Up," FBI initiative.