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Experts tell Senate panel crypto-enabled scams cost older Americans billions
CHILDREN AND YOUTH COMMITTEE - SENATE · September 4, 2024
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Summary
Researchers told a Senate committee that cryptocurrency-enabled scams — including 'pig butchering' romance scams and crypto ATM schemes — are a major vector for losses by older Americans, and called for improved AML/KYC compliance and better public education.
At a Senate Children and Youth Committee briefing, experts from Inca Digital described how cryptocurrency fraud and romance "pig butchering" scams are extracting large sums from older Americans and other victims.
Anita Nikolic said FBI figures she reviewed indicate Americans over…
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