Secretary of State: Crypto, romance scams most common in Nevada last year

CARSON CITY, Nev. (KOLO) - Nevada Secretary of State Cisco Aguilar says romance and cryptocurrency scams were the most common in 2022.

Headed into a new year, they are now warning residents to be cautious of high-risk, high-reward investment schemes that may appear online.

They also warn that, as Valentine’s Day approaches, romance scams may be increasingly common.

Such scammers may pressure you with immediate deadlines and promises of high returns on investments.

“Fraudsters often prey on our most vulnerable communities, and we want Nevadans to know the warning signs before offering up their personal data and potentially losing money and confidentiality,” said Secretary Aguilar. “In an effort to curb threats against an individual’s security in 2023, we want to bring awareness to the biggest threats facing Nevadans today.”

If you think you may have been a victim of one of these scams, you are asked to report it here.

The Secretary of State is urging the public to do the following to protect themselves:

Scammers are creating fake websites and social media accounts to obscure their identities. The public should always take steps to identify phony accounts by looking closely at content, including suspicious domain names and accounts.
Beware of fake client reviews. Fraudsters often reference or publish positive, but false, testimonials purportedly drafted by satisfied customers. These testimonials create the appearance the promoter is reliable and has already earned significant profits in the past, encouraging new investors to reap the same financial benefits as prior investors. In many cases, though, the reviews are drafted not by a satisfied customer but by the scammer.
If it sounds too good to be true, it probably is. Bad actors often entice new investors by promising the payment of safe, lucrative, guaranteed returns over relatively short terms – sometimes measured in hours or days instead of months or years. These representations are often a red flag for fraud, as all investments carry some degree of risk, and the potential profits are typically correlated with the degree of risk.