Hi hivers, if you're looking for Information regarding "Banking fraud vs Crypto scams", then you have landed in the right place. Fraud is all about related to money. If there is fraud, it means there is money. Fraud always follows the money. So even if it is crypto, it is going to follow crypto as well, so fraud will find a way to go when there is money. Often, we see banking fraud, and it is a headache for all of us. So first of all, let's talk about the Banking fraud.
So there are multiple scams in banking fraud, such as Card cloning, illegal excess of account, and phishing mail. So these are the types of banking fraud, and criminals find a way to do fraud. Here, the banking is responsible for safeguarding your funds. That's the reason when you are trapped in such a scam, Banks can help you resolve it. Also, they are guiding you in many ways to protect your funds.
Now talking about the Crypto So the Crypto scam is totally different. Here, you're doing everything because you are the person controlling your money. So you have responsibility in your hands, unlike the banking system. So there are multiple ways to scam in the crypto, such as fraud in smart contracts, fraudulent projects. First, they promise you a better return and acquire a lot of funds, and then the project gets scammed. Also, a pump and dump scheme is going on. It is not possible to attack directly on your decentralised wallet. But in any case, if you provide a private key to the scammer, then you are going to lose the funds that you are holding in your wallet. To get your keys, they use tricks like phishing and malicious files. On Telegram and Discord lot of scams are happening, so you have to be careful. Avoid clicking on Unknown links, especially when someone messages you.
Greed and fear are responsible for such action. So you have to control your emotions when you are in the crypto or even when you are using digital banking, because fraud is everywhere. There is a centralized structure that step in when fraud happens, but in decentralisation, you are your controller. You are the controller of your money and your wallet, so you have to be extremely careful.
Despite having a tight regulatory banking System always faces lots of scams, and they are unable to stop the scams and Such people blame crypto for fraud, but the reality is that more fraud happens than the Crypto. Crypto is more secure, but the only thing is that you have to be careful and use it carefully. Even without regulation, Crypto is safer, but you should know how to use crypto to protect your funds.
So safety and precautions are necessary, even if you are in the banking system, you will face a scam, and not even the government can save you. Because personally, this thing happened with me, so don't blame crypto because crypto is perfect. It is we who can stop this, so we have to work on ourselves and stay safe. Now I am signing off.
I think it's harder to fall for bank scams, it's easy to check and fake message sender, any fake site etc... On crypto it's more tricky, since there is no authority you can trust only
The truth is that as long as there is money involved, there will always be someone who wants to take it in an illegal way, but the important thing is to be alert to any eventuality and protect, if necessary, our savings for our old age.