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(West Fargo, ND) The City of West Fargo is warning residents against cryptocurrency scams. City officials say they do not utilize Bitcoin or digital wallets. Also, the city disputes what they call "Bitcoin Federal Safety Lockers", which do not exist according to the officials. This is due to an alleged uptick in scammers urging residents to deposit life savings into Bitcoin ....
Imposter Scams Remain The Most Common Type Of Fraud WASHINGTON (dpa-AFX) - Imposter scams continue to remain the most common type of fraud, according to the Federal Trad Commission. The FTC said it received more than 2.1 million fraud reports from consumers in 2020, with imposter scams remaining the most common type of fraud reported to the agency. Meanwhile, online shopping was the second-most common fraud complained by customers, which recorded a surge in the early days of the COVID-19 pandemic. Internet services; prizes, sweepstakes, and lotteries; and telephone and mobile services rounded out the top five fraud categories. Consumers reported losing over $3.3 billion to fraud in 2020, up from $1.8 billion in 2019. Nearly $1.2 billion of losses reported last year were due to imposter scams, while online shopping accounted for about $246 million in reported losses from consumers. ....