Blockchain Australia CEO calls for unified efforts to stamp out crypto scams

cointelegraph.com:

Blockchain Australia’s new CEO, Simon Callaghan, is urging Australia’s banks, the government and the crypto industry to come together to combat rising cryptocurrency scams.

Speaking on the final day of Australian Blockchain Week in Melbourne on June 30, Callaghan announced that the association will now be focused on helping prevent scams that involve crypto, among its other efforts.

“We’re going to have to work with the banking sector. We’re going to have to work with the government,” the CEO said, stressing the need to protect consumers.

Callaghan however noted that scams often originate on social media or through telecommunication channels — noting that policing efforts need to start from the point of first contact:

The CEO noted that few countries have managed to cooperate efficiently to combat cryptocurrency scams so far, but shared hopes Australia can break that barrier and set an example for other jurisdictions:

Cryptocurrency-related scams have been a headline issue in Australia over the past month. Since May, two of Australia’s largest banks imposed restrictions or outright bans on certain payments made to cryptocurrency exchanges, citing the rising threat of scams.

The Australian government has also shown interest in tackling the issue, with the Australian Competition and Consumer Commission (ACCC) — the country’s consumer watchdog — set to open its National Anti-Scam Center on July 1.

According to the ACCC, the NASC will collate expertise and resources to prevent scammers from making contact with Australians and to raise consumer awareness about how to avoid scams.

Blockchain Week Day 5 in Melbourne has kicked off with @MikeBacina, Chair - Blockchain Australia. #BW2023 pic.twitter.com/sfD53BJyQJ

Trevor Power, an