Thirty-one Marin County residents lost a total of $33 million in online investment scams last year, according to a new FBI report on internet crimes.In the FBI’s San Francisco territory — which includes much of the Bay Area, the North Coast, Santa Cruz County, Monterey County and San Benito County — victims reported nearly $400 million in losses to online investment scams last year.
After payment, the scammer would either fail to invest the victim’s money as promised, or would only invest a small part of the payment while pocketing the rest of the money. “Everybody has heard the word ‘cryptocurrency,’ and it’s a buzzword that 90-year-old senior citizens can throw around comfortably,” he said. “But when you start getting into the nitty-gritty of specific cryptocurrency, their backing in the block chain, projected rates of return in particular areas under certain conditions — nobody knows that. It’s just a black box that magically makes money.
People who believe they are victims of online financial schemes should contact the FBI’s Internet Crime Complaint Center, Tripp said. He said the agency monitors the website around the clock.