When Clients Send Crypto Overseas: The Red Flag Accountants Must Act On

Crypto scams are becoming increasingly sophisticated — and accountants are often the first professionals to hear about them.

Grant Abbott from Lightyear Group recently spoke with Maureen Gabriel of LY Forensics about a growing concern: clients who have sent crypto overseas and are being told they must pay additional “taxes” or “gas fees” to access funds.

The Crypto Scam Mistake Accountants Are Seeing Right Now

According to Maureen, this is one of the clearest warning signs of a crypto scam.

Legitimate investments do not require upfront payments to release profits. When a client is pressured to send more money, especially internationally, the safest step is to stop all transfers immediately and seek forensic validation.

Crypto forensics can determine whether:

• The investment is real
• The wallet activity is legitimate
• The client is dealing with a scam network

Early action protects clients — and protects accountants from downstream liability.

Video: https://youtu.be/sMfOr72fDf8

If in doubt, pause and escalate to a forensic specialist.