Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » ATO Warns Citizens Of Bitcoin Tax Payment Scam

ATO Warns Citizens Of Bitcoin Tax Payment Scam

cointrust by cointrust
Sep 28, 2018
in Bitcoin News, News
Reading Time: 2 mins read
0

Australian Tax OfficeThe Australian Tax Office (ATO) is in charge of all tax related filings and assists Australian residents with their taxes.

The agency recently sent out a warning cautioning residents that there is a new scam going around where scammers impersonate tax officials who threaten people with jail time unless their tax debts are paid immediately via bitcoin.

The scam plays itself out in a very interesting manner. It focuses on surprise and fear to have the victims respond in a particular way. For example in a recent case, a victim was contacted out of the blue by a scammer claiming that they owed the Australian government AU$9000 in taxes. They were then threatened with five years in prison if they did not pay immediately.

When the victim was pressured, they divulged details that allowed the scammers to contact the victim’s tax agent in order to clear things up. The scammer then supposedly called the agent but he was supposed to be in a meeting. Another individual, most likely an accomplice, then presented themselves as a legitimate tax agent and supported all of the scammer's assertions. The victim was then fooled into withdrawing AU$9,000 and depositing it in a nearby Bitcoin ATM.

Tax debts are not the only thing that the scammers are using as an excuse for their threats. Reports of similar scams have the caller claiming to collect on iTunes balance, pre-paid visa cards, and gift cards from stores. The ATO said the best way to be protected from this scam is to be familiar with your tax details. If you are knowledgeable about what exactly you owe and what is owed to you.

Bitcoin Scams

Being paid in bitcoin is becoming a common trait in most scams taking place these days. The ease of transactions and the difficulty of tracing them attract many criminals who find it easier to evade the authorities by relying on bitcoin.

In a statement, Kath Anderson, the assistant commissioner of the ATO,

We became aware of scammers seeking payment in Bitcoin last year. So far, we have seen over $50,000 paid in Bitcoin to scammers claiming fake ATO tax debts

Australians need to be aware that scammers are not completely relying on bitcoin as a scam operation.

Earlier this year, the ATO also warned about scammers claiming to be tax officials and putting pressure on them to pay up via different modes. The best way to avoid being scammed is to double check any claims being made and verify credentials thoroughly.

Previous Post

Austria to Deliver €1.15bln. Government Bonds Via Ethereum Blockchain

Next Post

US House Approves Bill To Fight Use of Cryptos By Terrorists

Related Posts

dac partners with deepbook ai

DAC Platform and DeepBook AI Redefine Web3 Browsing

by Kelly Cromley
Jul 18, 2025
0

DAC Platform has revealed its latest collaboration with DeepBook AI, signaling a strategic move aimed at enhancing user interaction within...

spheron partners with wire network

Spheron and Wire Blockchain Unite to Power Decentralized AI Internet

by Kelly Cromley
Jul 18, 2025
0

Spheron Network has announced a strategic collaboration with Wire Blockchain, aiming to deliver a more resilient and scalable internet infrastructure...

magne ai

MAGNE.AI Unveils Web3 AI Smartphone with Global Launch in KL

by Kelly Cromley
Jul 18, 2025
0

MAGNE.AI is preparing to make a prominent entry into the global mobile technology market with the public debut of its...

adi foundation

ADI Chain Testnet Launch Signals a New Era in Blockchain Speed

by Kelly Cromley
Jul 18, 2025
0

The ADI Foundation has officially initiated the public testnet launch of ADI Chain, a next-generation blockchain infrastructure designed to be...

cardano

Cardano Expands Reach Through Blockchain.com DeFi Wallet Integration

by Kelly Cromley
Jul 18, 2025
0

Cardano has taken a major step forward in advancing its decentralized finance (DeFi) ambitions by being integrated into Blockchain.com’s DeFi...

Domino Printech India partners with Block Synergy Technology Limited

Domino Printech India and Block Synergy launch TagITX to combat counterfeiting with on-product traceability

by Kelly Cromley
Jul 18, 2025
0

In a major step to curb the growing problem of counterfeit goods in India, Domino Printech India, a recognized name...

Next Post
US House Approves Bill To Fight Use of Cryptos By Terrorists

US House Approves Bill To Fight Use of Cryptos By Terrorists

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Hyper Foundation Launched to Boost Hyperliquid Blockchain Development

    by Kelly Cromley
    Oct 15, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025

Recent News

dac partners with deepbook ai
Market News

DAC Platform and DeepBook AI Redefine Web3 Browsing

by Kelly Cromley
Jul 18, 2025
spheron partners with wire network
Market News

Spheron and Wire Blockchain Unite to Power Decentralized AI Internet

by Kelly Cromley
Jul 18, 2025
magne ai
Market News

MAGNE.AI Unveils Web3 AI Smartphone with Global Launch in KL

by Kelly Cromley
Jul 18, 2025
adi foundation
Market News

ADI Chain Testnet Launch Signals a New Era in Blockchain Speed

by Kelly Cromley
Jul 18, 2025
cardano
Cardano News

Cardano Expands Reach Through Blockchain.com DeFi Wallet Integration

by Kelly Cromley
Jul 18, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree