'Beware bitcoin tax scammers': Tax Office

The Australian Tax Office (ATO) has warned Australians to be vigilant about scammers impersonating the ATO and demanding debts be paid in cryptocurrency.

Following the end of the financial year, scammers email victims falsely claiming to be collecting tax return debts on behalf of the ATO.

Assistant commissioner Kath Anderson said the ATO has recorded over $50,000 lost to scammers from unwitting victims.

“Cryptocurrency operates in a virtual world, and once the scammers receive payment, it’s virtually impossible to get it back,” said Anderson.

“Scammers are constantly adapting their methods to maximise their chances of picking your pocket.

“Unfortunately it was inevitable that scammers would target cryptocurrency given its current popularity and anonymity.”

Anderson said bitcoin was just one avenue scammers used to collect untraceable ransom payments.

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Source: ‘Beware bitcoin tax scammers’: Tax Office – 9Finance