‘Pig butchering’ scam awareness took center stage at this year’s Money 20/20 fintech conference.
Experts estimated that as many as 1 in 10 Americans will fall victim to online scams this year.
Speakers revealed how pig butchering schemes that ‘fatten you up for the kill’ are common in the cryptocurrency space.
Most often, fraudsters advise you to invest on a platform that sounds like a legitimate exchange or platform and then take everything from you.
Other highlights included a talk about how regulators can update payment systems by making Fed accounts and services easier to access.
Leila Perkins, global head of policy & social impact at Wise (formerly TransferWise), observed that years of feedback from the business world have led to a lot of progress and harmonization of payments at the state level.
Perkins stated that investment fintech professionals have reason to be hopeful that the same things will happen at the federal level.
Stay tuned for a deeper dive into this year’s Money 20/20 conference!
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