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Market Insights

A Pandemic of Fraud

The coronavirus pandemic has lead to an increase in fraud, and investors should be careful

Yan Barcelo 6 October, 2020 | 1:32AM
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Dan wanted to invest in bitcoin, and he went online to look for ideas. One day, bitcoin ads started showing up on his Instagram account, followed by messages from the poster. “Over a few months, this fellow sends me messages on how well bitcoin is doing in the wake of the pandemic and how it would be a good time to invest,” Dan recalls. He thought, “Why not?” and first paid US$ 200 via Paypal, and then sent an additional US$ 600.

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About Author

Yan Barcelo  is a veteran financial and economic journalist with more than 30 years of experience, writing for many publications in Toronto and in Montreal, including CPA Magazine, Les Affaires and Commerce.

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