France Suffers €500 Million in Financial Fraud Annually... "Virtual Assets Are a Major Cause"
Summary
- The French Financial Markets Authority stated that financial fraud related to virtual assets amounts to €500 million annually.
- The group most vulnerable to fraud is males under 35, who are easily tempted by promises of unrealistic returns.
- French authorities added that they are working to prevent fraud in collaboration with various agencies.
According to Crypto News on the 26th (local time), the French Financial Markets Authority (AMF) reported that financial fraud amounting to €500 million (approximately 763.2 billion KRW) occurs annually, with incidents related to virtual assets being a significant part.
Data indicates that the age group most vulnerable to financial fraud is males under 35, who desire quick success but lack investment knowledge, making them susceptible to promises of unrealistic returns.
French authorities added, "We are working to prevent fraud in collaboration with the Paris Prosecutor's Office, the Prudential Supervision and Resolution Authority (ACPR), and the Directorate General for Competition, Consumer Affairs and Fraud Prevention (DGCCRF)."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
