AMF: Cryptocurrency-related scams are the main reason for the annual loss of 500 million euros for victims of financial fraud in France

ChainCatcher news, according to Cryptonews, the French Financial Markets Authority (AMF) reports that cryptocurrency-related scams are the main cause of approximately 500 million euros in losses for victims each year. French authorities are strengthening cooperation with the Paris Public Prosecutor's Office, the Financial Regulatory Authority (ACPR), and the Directorate General for Competition Policy, Consumer Affairs and Fraud Control (DGCCRF) to address this issue.

The AMF points out that the scale of scams remains enormous. In particular, scams triggered by social media, influencers, and identity theft, where scammers deceive the public through deepfake videos, fake news, and impersonation of government agencies.