Victor Ugochukwu · Dec 14, 2020 . 5min read
Fraudsters are impersonating Poland’s PFSA in crypto scams
The Polish authorities are seeing an increase in cryptocurrency scams via telephone as reported by the country's financial regulators, the PFSA.
By Shilika · Aug 7, 2020 . 4min read
Poland is experiencing an increase in cryptocurrency scams. According to Finance Magnets, scammers are calling individuals and are offering to conduct investments into cryptocurrencies under the supervision of the Polish financial authorities.
The Polish Financial Supervision Authority (PFSA) is reporting that scammers are reaching out to people over the phone and ask them if they would like to buy or sell cryptocurrencies. The callers are generally polite but do try to pressure their victims. If the callers feel as though they have a found a vulnerable individual, they go after them relentlessly guising its operations under the law.
Cryptocurrency and its related activities are not illegal in Poland. The laws are somewhat vague, but individuals can engage in trading. Poland’s crypto scams have however, forced the Polish authorities to deeply investigate the matter. The government, like many others, has attempted to regulate its use in criminal activities. With regards to the actual calls, the regulatory authority made the following plea:
“If, during the interview, you have been informed that a given person performs activities with the participation or in agreement with the PFSA or the KNF, refrain from further contacts and immediately notify the nearest Police unit. Try to collect and present as much detail as possible about the event in the notification. Any piece of information can be useful”.
The Polish government recently passed a taxation law that addresses cryptocurrencies. It has essentially decided to tax the profits made from trading crypto. The taxation rate ranges from 18% to 32% in the country, depending on certain conditions. The Polish have employed a progressive tax code in all cases except when it comes to business. In this case, the government taxes businesses at a flat rate of 19%.