According to TechFlow news on December 26, a report by Cryptonews states that the French Financial Markets Authority (AMF) reports that cryptocurrency-related scams are the main cause of approximately €500 million in losses for victims each year. French authorities are collaborating with the Paris Prosecutor's Office, the Prudential Supervision and Resolution Authority (ACPR), and the Directorate General for Competition Policy, Consumer Affairs and Fraud Control (DGCCRF) to intensify efforts to combat these fraudulent activities.
AMF report states that as of November 2024, the average loss for victims of financial fraud is €29,000, while the average loss due to fake savings accounts reaches as high as €69,000.
In September 2024, a survey conducted by BVA Xsight for the French Financial Authority showed that 3.2% of French adults have fallen victim to financial investment scams, an increase of three times compared to 2021.
Data shows that men under 35 are particularly susceptible. They are impatient and lack confidence in their investment knowledge. Scammers exploit social media platforms, promising unrealistic returns to take advantage of this demographic.