"Most of the time, Bell says the callers were fraud victims. "It's tough, basically breaking the worst news possible to someone," he said. "They're just grasping for the hope that we can refund it or return the money. And you have to be the one to say no, and in some cases, it was potentially [their] life savings it dwells on you.""
"Half of them said they don't believe their employer would be profitable without transactions tied to fraud. The other half believed the companies would still make money just less. Localcoin didn't respond to requests for comment, but three other top operators in Canada told CBC they don't (or don't want to) profit from fraud, fraudulent transactions don't make up a significant part of their business, and that they have measures to detect and prevent it."
Localcoin operates the most crypto ATMs in Canada. Support staff received calls from fraud victims who sought refunds and sometimes lost life savings. Canada's financial intelligence agency identified crypto ATMs as the main vehicle fraudsters use to extract money from scam victims. Former employees from multiple operators said fraud through ATMs is a known internal problem. About half of those employees believe their employer would not be profitable without fraud-related transactions; the others believe profitability would simply decline. Some operators denied profiting from fraud and asserted that fraudulent transactions are not a significant share of business and that detection and prevention measures exist.
Read at www.cbc.ca
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