Ponzi Projects In Russia Has Increased By 300% Since The Beginning Of 2022
The Central Bank of the Russian Federation announced that the number of multi-level Ponzi schemes in Russia has tripled since the beginning of 2022. Although the Central Bank has not confirmed the cause, the economic recession worries factor economy worth mentioning.
In Russia, since the beginning of 2022, the number of ghost projects has reached 2,288, nearly 300% more than the same period in 2021 of 729. The major regulator announced this in a report on combating illegal activities in financial markets.
The Central Bank claims that this boom in the number of financial programs is due to citizen demand in the face of an economic downturn. The report cites that:
“Concerned about possible economic difficulties, people were looking for new ways to invest, and the answer to this “request” was the emergence of new financial pyramids (pseudo-investment projects).”
At present, the Central Bank does not know the main cause of people’s concern. However, the agency said that “due to the sanctions, the working conditions of legitimate financial institutions have changed significantly”.
Along with the development of financial pyramids, the number of projects that offer investment in cryptocurrencies and fake cryptocurrencies continues to increase. In addition, the Central Bank added:
“In the first half of 2022, more than 56% of financial pyramids (537 entities) raised funds in various cryptocurrencies or advertised investments in cryptocurrency assets.”
At the same time, according to the Central Bank of the Russian Federation, multi-level or Ponzi projects in the form of economic games are still quite popular. During the first half of the year, 236 such companies were identified, representing almost 25% of the total pyramid.
During the first quarter of 2022, the major regulator identified 930 illegal participants in the financial markets. At the same time, about 400 of them are multi-level models through cryptocurrency. Last year, the Central Bank discovered that the volume of transactions by Russians with cryptocurrencies “is about $5 billion per year.”
For a time, financial authorities encouraged Russians to turn off VPNs to protect themselves from fraud. Some social networks and some websites are reported to regularly appear with deceptive advertisements.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
CoinCu News
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Ponzi Projects In Russia Has Increased By 300% Since The Beginning Of 2022
The Central Bank of the Russian Federation announced that the number of multi-level Ponzi schemes in Russia has tripled since the beginning of 2022. Although the Central Bank has not confirmed the cause, the economic recession worries factor economy worth mentioning.
In Russia, since the beginning of 2022, the number of ghost projects has reached 2,288, nearly 300% more than the same period in 2021 of 729. The major regulator announced this in a report on combating illegal activities in financial markets.
The Central Bank claims that this boom in the number of financial programs is due to citizen demand in the face of an economic downturn. The report cites that:
“Concerned about possible economic difficulties, people were looking for new ways to invest, and the answer to this “request” was the emergence of new financial pyramids (pseudo-investment projects).”
At present, the Central Bank does not know the main cause of people’s concern. However, the agency said that “due to the sanctions, the working conditions of legitimate financial institutions have changed significantly”.
Along with the development of financial pyramids, the number of projects that offer investment in cryptocurrencies and fake cryptocurrencies continues to increase. In addition, the Central Bank added:
“In the first half of 2022, more than 56% of financial pyramids (537 entities) raised funds in various cryptocurrencies or advertised investments in cryptocurrency assets.”
At the same time, according to the Central Bank of the Russian Federation, multi-level or Ponzi projects in the form of economic games are still quite popular. During the first half of the year, 236 such companies were identified, representing almost 25% of the total pyramid.
During the first quarter of 2022, the major regulator identified 930 illegal participants in the financial markets. At the same time, about 400 of them are multi-level models through cryptocurrency. Last year, the Central Bank discovered that the volume of transactions by Russians with cryptocurrencies “is about $5 billion per year.”
For a time, financial authorities encouraged Russians to turn off VPNs to protect themselves from fraud. Some social networks and some websites are reported to regularly appear with deceptive advertisements.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
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