More than half of the pyramids identified in Russia in the first quarter of 2022 were linked to investments in digital currencies. The Bank of Russia’s head of the department for countering illicit practices Valery Lyakh said this, according to ТАСС.
According to him, schemes based on investments in allegedly digital instruments and crypto assets received a new impulse amid financial uncertainty.
More than 58% of such pyramids identified during the reporting period were linked to cryptocurrencies.
Lyakh also noted a rise in the popularity of “save funds” offers in foreign jurisdictions.
“Restrictions tied to international settlements have become a fashionable gimmick to persuade someone to transfer money to the personal account of a private intermediary, via a phone number,” he said.
Earlier in the article, the Bank of Russia also stated that more than half of pyramids operating online attracted funds in cryptocurrencies or offered investments in various non-existent digital assets.
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