Police warning public of Bitcoin scams

The Peel Regional Police Fraud Bureau would like to warn the public of scams related to Bitcoin.

Investigators have received an increase in the number of occurrences where unknown suspects have defrauded members of the public over the phone.

Police say suspects identify themselves as police officers from various police services, including the Peel Regional Police and a demand is made to victims to transfer money via “Bitcoin” ATMs to avoid them issuing an arrest warrant.

According to police, variations of the scam include suspects identifying themselves as the Canada Revenue Agency or other federal agencies.

Police say suspects can make it appear as though the phone number they are using belongs to the actual agency being mimicked, through the manipulation of technology.

Public education and awareness are crucial in preventing the continuation of this type of fraud. 

Peel Regional Police wants to remind the public that in no circumstance would a police service or any government agency request a member of the public to forward money via a Bitcoin ATM to prevent an arrest or any other type of enforcement.    

Peel Regional Police is dedicated to the protection of individuals and groups in the community.

In many Fraud related cases, people in vulnerable situations are coerced, manipulated and taken advantage of for the profit of the fraudster.

Anyone with information is asked to call investigators with the Fraud Bureau at 905-453–2121, ext. 3335. 

Anonymous information may also be submitted by calling Peel Crime Stoppers at 1-800-222-TIPS (8477), by visiting peelcrimestoppers.ca.