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The Federal Bureau of Investigation (FBI) described the ICO fraud structure and techniques. Steven M. D’Antuono, FBI director of financial crime, said in an interview with a Dutch media that the main trick of ICO fraud is to impersonate an ICO official as a high-profile or unrealistic revenue guarantee. He said other investment products are not guaranteed, but if there are too many of them, it is probably a scam.
It also says that investors need to be careful about any plans, behind-the-scenes, or Internet-based companies that have difficulty getting physical addresses and contacts. It is pointed out that the ICO is under the jurisdiction of certain legal institutions and what laws are being made.
According to Financial Industry Regulatory Authority (FINRA), the financial industry’s self-regulatory supervisory body, general users can also use broker inspection systems to verify information such as corporate identity and registration status.
He advised that even the most famous ciphers and financial products should be invested only in those who are unlikely to be volatile, depending on industry conditions, and who may or may not be at risk. (CFTC) and ATMs must be registered with the FinCEN, including illegal money laundering, for legitimate carrier platforms.
Despite the prospect that STO will be a new trend this year, Diantono said that the crackdown will remain the same. Considering the increasing trend of assets such as security tokens, the risk of crime is increasing. He said more tokens would be issued in the future, and the more tokens, the higher the risk of cheating in the market.
The FBI has been cracking and monitoring criminal activity around cryptography. In June of last year, the FBI conducted a criminal investigation into 130 cases, including drug trafficking, on the Dark Web. According to a report, the FBI was the country with the highest number of information on law enforcement agencies in 60 countries around the world last year. For more information, please click here .
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