The UK's Financial Conduct Authority (FCA) has fired a warnings shot to the people of the country to stay away from people who are using coronavirus to their advantage. Due to the chaos and the cluttered market, many criminal and scammers are looking for gullible people to exploit. According to the<a href="https://www.fca.org.uk/consumers/coronavirus-covid-19"> website</a> :
<blockquote>Watch out for scams related to coronavirus (COVID-19); these scams take many forms. They could be about insurance policies, pensions transfers or high-return investment opportunities, including investments in crypto-assets." the FCA writes.</blockquote>
The FCA advises that these scammers appear sophisticated and are approaching people wearing the good-guy mask. They are masquerading as an opportunist and could go to any lengths to fool the naive.

The investments which appear too good to be true is the oldest trick in the book of these criminals, and the FCA advises people to stay aloof from such things. They warn sternly that if you're going to fall for these gimmicks, you should be prepared to lose all your savings.
<h2>FCA Calls For Caution</h2>
The FCA asks people to reject any approach or offers out of nowhere, pay no heed to fake ads on social media, completely maintain their privacy if someone asks for their personal details and stay alert.

According to the City of London's National Intelligence Bureau (NFIB), twenty-one cases have been reported regarding coronavirus scams. While the members of the crypto-community didn't fall prey to it much, the non-crypto schemes scammed people of over 800,000 Euro.

Earlier in February, the Securities and Exchange Commission in the US gave somewhat similar advice to the people of America. It claimed that any companies which offer coronavirus related products and services. The FED suggested that people stay cautious and stay aware that the criminals can exploit something as deadly as the coronavirus, exploit it and use it for their ulterior motives, at the expense of gullible people.

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FCA Warns People to Swerve Away From Corona Scams

The UK's Financial Conduct Authority (FCA) has launched a stern warning to the people that there's a plaethora of scams,in the name of coronavirus going on.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

FCA Warns People to Swerve Away From Corona Scams

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