Florida CFO works to protect against cryptocurrency fraud

State leaders are calling Florida’s fraud problem an epidemic. One state leader just launched a new initiative to protect you, your identity and your money online.

Florida’s Chief Financial Officer, Jimmy Patronis, has started a website to protect consumers from cryptocurrency scams. It’s part of the state’s brand new initiative called Fraud Free Florida.

“With crypto currency, we saw many many situations where there’s a lot of fraud going on there,” said Eric Bretan, a former investment banker who now runs an Estate Jewelry business in Punta Gorda. Bretan believes this new website could be a valuable tool for anyone who’s hacked while exchanging this digital currency.

“Either the owner of the exchange steals all the cryptocurrency or someone hacks into that particular exchange and steals all the cryptocurrency and there’s really no way to get it back,” Bretan said. “They’re doing this from Russia. They’re doing this from China. And they’re doing it from North Korea and there’s absolutely no way of getting it back.”

During his time as an investment banker, Bretan steered his clients away from investing in cryptocurrencies altogether, calling them complete luck.

Reference: https://www.abc-7.com/story/40074762/florida-cfo-works-to-protect-against-cryptocurrency-fraud

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