Recently, the U.S. Treasury Department released a risk assessment report about nonfungible tokens (NFTs). It warns that NFTs are “highly susceptible” to use in fraud and money laundering schemes. Risk rises for NFT platforms and buyers when cybersecurity and antifraud controls aren’t adequate. Confusing copyright and trademark laws, as well as hype and fluctuating pricing also contribute to criminals abusing NFTs. Although investigators have found little evidence that terrorists are using NFTs, the report recommends increasing awareness of NFT-related threats and potentially greater regulation of these assets. Read the report: https://bit.ly/4c3KZWj.
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