Beware of cryptocurrency scam: Coquitlam RCMP

R-C-M-P in Coquitlam are urging the public to use caution when asked to convert money into cryptocurrency.

This comes after a person was contacted over the phone by someone who they believed worked for their credit card company, and told they had suspicious transactions on their card.

That person encouraged the victim to withdraw thousands of dollars from their bank account and convert it into cryptocurrency for transferring, in order to prevent further unauthorized transactions on their credit card.

The victim contacted their bank and police once the transaction was complete, and the Mounties are urging the public to beware of red flags before investing in cryptocurrency.