Simon Callaghan, during a speech at Australian Blockchain Week in Melbourne, said investors and cryptocurrency owners need to be protected. The head of the public organization noted that in recent years, cases of fraud with digital assets in social networks & nbsp;and messengers have increased. According to Callaghan, the actions of attackers must be prevented “from first contact,” because cryptocurrencies are a kind of second-tier fraud, as cryptoassets can be used to withdraw money already stolen.
To combat fraudsters, Blockchain Australia wants to work more closely with bankers and the government. So far, few countries have effectively prevented cryptocurrency fraud, laments Callaghan. However, he hopes that Australia can overcome this barrier and set an example for other jurisdictions;
The Australian Competition and Consumer Commission (ACCC) is also interested in tackling the problem: On July 1, the agency is preparing to launch the National Anti-Scam Center (NASC).. Trevor Power, Australia’s Assistant Minister of Finance, said that the government is allocating significant funds to combat cryptocurrency scams;
According to the ACCC, Australians lost about $148.3 million in cryptocurrency fraud schemes in 2022.
In June, major Australian bank Commonwealth imposed limits on the amount of deposits transferred to cryptocurrency exchanges, explaining this by the need to protect customers from fraudsters.