The Fraudian Slip Podcast ITRC - Crypto Fraud - Special Guest Cryptocurrency Compliance Cooperative

Show Transcript

Below is a transcript of our podcast with special guest Seth Sattler, Co-Founder of the Cryptocurrency Compliance Cooperative

Welcome to The Fraudian Slip, the Identity Theft Resource Center’s (ITRC) podcast, where we talk about all-things identity compromise, crime and fraud that impact people and businesses. Listen on Apple, Google, Spotify, SoundCloud, Audible, and Amazon now. Thanks for joining us today as we talk about one of the hottest topics, with perhaps the least amount of understanding of any issue discussed just about anywhere: cryptocurrency and crypto fraud. 

Digital currency is simultaneously fringe and mainstream; complicated and simple; highly secure and open to fraud. It can send government regulators diving for their antacids – unless you are in El Salvador or the Marshall Islands that use cryptocurrency as their official sovereign legal tender.

While crypto is the darling of the investment world, it also attracts the unwanted attention of cybercriminals. In 2022, the ITRC has already received nearly as many contacts from victims of crypto fraud and scams as we saw in all of 2021.

We’re in the early days of cryptocurrency becoming part of the mainstream, which means the amount of crypto fraud is only likely to rise over time. One of the main reasons cybercriminals can commit identity and financial fraud related to digital currencies is that there is as much or more misinformation than accurate information.

Here to help change that is Seth Sattler, Co-Founder of the Cryptocurrency Compliance Cooperative, a collaborative association that advocates for universally accepted compliance standards within the cash-to-cryptocurrency industry; and the ITRC’s own CEO Eva Velasquez.

We talked with Seth Sattler about the following: 

• Cryptocurrency Compliance Cooperative and its role; what is and is not cryptocurrency
• Legit uses for crypto
• Popular myths about crypto
• How to safely get involved with crypto; where you can go to learn more about crypto

We talked with Eva Velasquez about the following:

• The ITRC’s experience with crypto fraud
• Why people fall for crypto fraud
• How the ITRC helps consumers 

You can learn more about the work of the Cryptocurrency Compliance Cooperative by visiting their website www.crypto3c.org. 

If you think you have been the victim of crypto fraud, an identity crime, or want to avoid becoming a victim, you can speak with an expert advisor on the phone (888.400.5530), chat live on the web or send us an email during our normal business hours (6 a.m.-5 p.m. PST Monday-Friday). Just visit www.idtheftcenter.org to get started. 

Be sure to join us next week for our sister podcast, the Weekly Breach Breakdown.