British lender NatWest has limited daily and monthly transfers from regular bank accounts to crypto accounts in an attempt to curb fraud.
Users will not be able to send more than $1,207 (£1,000) per day.
The financial organization stated that even legitimate cryptocurrency exchanges are used as a stepping stone to make investments in cryptocurrency, an industry that has been known to be volatile and in which many inexperienced investors have lost a lot of money.
- According to the bank's statement, men over 35 are most likely to make risky investments and be victims of hacking campaigns that are advertised as low-risk-high-reward investments.
- NatWest has limited monthly transfers to $6,037.
Over $300M was lost by British citizens from online scams in 2022.
