Cryptocurrency Investors Need to Take Heed of Rise in Skyrocketing Tax Extortion Scams

According to a recent report by CNBC, the latest data from the FBI indicates that there has been an increase in tax extortion schemes by 24.2%. Such scams usually start with a robocall, in which the robot poses as the IRS and tires to convince the person to pay taxes.

51,156 complaints have been received by the FBI this year. The complaints indicate that approximately $83 million has been lost to the scammers. According to D’Antunono of the FBI’s Financial Crimes Section in D.C.,

“We can’t arrest our way out of this situation because there are too many con men out there.”

He continued that he also received robocalls attempting to scam him.

The scams often occur through phone calls, in which the victim receives an automated message about taxes that they owe. Victims who listen to the call and call back are reverted to fraudsters, who try to convince them that the sum must be paid immediately. According to D’Antuono, scammers have

“gotten very aggressive as of late.

We’ve heard a lot of reports of threats and they’re going to come to [victim’s’] house, they’re going to arrest them.”

He also expects such scams to increase as Americans continue to file their tax returns past April 15.

At the end of the day, it is important to know that the IRS does not contact taxpayers by phone or email. Therefore, such calls should be ignored and reported to the FBI.