CFTC Partners With Organizations To Combat Cryptocurrency Investment Scams

According to Odaily, the U.S. Commodity Futures Trading Commission's (CFTC) Office of Customer Education and Outreach (OCEO) has announced two new partnerships aimed at providing targeted information on cryptocurrency-related investment scams. These collaborations are part of OCEO's broader efforts to expand its audience and enhance public awareness about fraudulent schemes in the crypto space. The American Bankers Association Foundation, a private regulatory body, and other federal agencies are working with OCEO to create and distribute an infographic designed to help individuals identify and avoid 'pig butchering' scams. This initiative is intended to equip the public with the knowledge needed to recognize and steer clear of these deceptive practices. Additionally, OCEO will collaborate with the U.S. Securities and Exchange Commission (SEC) and other organizations to develop investor alerts focused on 'pig butchering' and 'rug pull' scams. OCEO Director Melanie Devoe emphasized that these partnerships are crucial for disseminating educational information to prevent scams from harming the public.