🚨 ScamShield Investor Protection Challenge: Combating Crypto Investment Fraud with Innovation 🚨
Empower Innovation, Protect Investors: Join the ScamShield Challenge Today!
The Alberta Securities Commission (ASC), the Edmonton Police Foundation, and the Edmonton Police Service have joined forces to tackle the growing threat of online crypto investment fraud through innovative technology solutions. Welcome to the ScamShield Investor Protection Challenge! 🌐🔍
With a generous prize pool of up to $130,000, this challenge is calling on tech experts, academics, startups, and established firms to develop cutting-edge solutions that will enhance investor protection against crypto scams. 💡💰 Whether you’re an individual or part of a team, your innovative ideas could make a significant impact!
Why ScamShield?
In recent years, as technology evolves, so do the tactics of crypto scammers. The ASC reports that over 60% of the $309 million in investment fraud reported to the Canadian Anti-Fraud Centre last year was linked to crypto investments. 🚫💸 In Edmonton alone, there were more than 80 victims of crypto fraud in 2023, totaling a staggering $7 million in losses.
Cynthia Campbell, ASC’s Director of Enforcement, emphasizes the severity of the issue: “Anyone can fall victim to a scam, and the impact can be devastating.” The collaboration with the Edmonton Police Foundation and Edmonton Police Service aims to engage various disciplines to find new ways to tackle this critical issue and protect investors across Alberta. 🛡️🔒
The Challenge Details
The ScamShield Challenge will unfold in two phases:
- Phase 1: Submit your proposals and implementation plans by November 4. 🗓️🔍
- Phase 2: Selected proposals will undergo detailed assessments, including product demonstrations, presentations, or Q&A sessions with judges. Judging will continue until December 13, with the winner announced on January 17. 🏆✨
Deputy Chief Devin Laforce of the Edmonton Police Service highlights the ongoing struggle: “Scammers exploit the public’s lack of crypto knowledge and the difficulties in tracing transactions. This challenge is crucial in finding solutions that can outsmart these criminals.”
Don’t miss this opportunity to contribute to the fight against crypto fraud and help build a safer investment environment. Apply now and be part of the ScamShield movement! 🌟🚀
Apply Here: ScamShield Investor Protection Challenge