"A special place in hell for crypto fraudsters"

Money Box

BBC

Business

4.2 • 825 Ratings

🗓️ 7 May 2022

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The Government announced plans this week to impose more regulation on firms where people legally buy and sell bitcoin. One major crypto platform where people do this is called Kraken - which is where 77-year-old Graeme moved more than half a million pounds which thieves then stole. Graeme was robbed of his savings, his car, and his house by thieves who manipulated him to buy cryptoassets. We hear from Curtis Ting, a Managing Director of Kraken.

In an extreme case of council tax arrears, we hear from Robert who has just received his first council tax bill after 24 years living in the same house. The London Borough of Barnet is demanding more than £30,000 in arrears. So what's going on? And does Robert have to - finally - cough up? We hear from barrister Alan Murdie who specialises in council tax, and edits the Council Tax Handbook for the Child Poverty Action Group.

Thinking of claiming a Working From Home tax rebate? Listen to this first. HM Revenue & Customs has told Money Box it will be launching a consultation this year to find new ways to tackle repayment agents who charge people for claiming routine tax rebates which they could claim free themselves. If you go via an agent, it could take half your pay out in fees. Money Box reporter Dan Whitworth investigates, and we also hear from technology journalist David McClelland.

Presenter: Paul Lewis Producer: Paul Waters Reporter: Dan Whitworth Researcher: Marianna Brain Production Coordinator: Janet Staples Editor: Emma Rippon

Transcript

Click on a timestamp to play from that location

0:00.0	You are about to listen to a BBC podcast and I'd like to tell you a bit about what goes into making one.
0:06.5	I'm Sadata Sese, an assistant commissioner of podcasts for BBC Sounds.
0:11.2	I pull a lot of levers to support a diverse range of podcasts on all sorts of subjects,
0:16.0	relationships, identity, comedy, even one that mixes poetry, music and inner city life.
0:22.4	So one day I'll be helping host develop their ideas, the next fact-checking, a feature,
0:28.3	and the next looking at how a podcast connects with its audience, and maybe that's you.
0:33.6	So if you like this podcast, check out some others on BBC Sounds.
0:39.5	BBC Sounds, music, radio, podcasts.
0:43.1	Hello, welcome to this Moneybox podcast.
0:45.9	I talk to a man who got a council tax arrears bill for £30,000.
0:51.7	And HM Revenue and Customs says it must send a check for a tax rebate to a
0:56.6	customer's agent, even though the agent will keep more than half of it for themselves. But first,
1:03.4	many of you were shocked a couple of weeks ago at the story of Graham, the 77-year-old victim of
1:08.4	thieves who robbed him of his savings, his car and his house
1:12.2	by manipulating him to buy Bitcoin and other crypto assets which they then stole.
1:17.6	Well, this week, the government announced plans to impose more regulation on firms
1:21.3	where people legally buy and sell Bitcoin.
1:24.6	One major crypto platform where people can do that is called Cracken.
1:29.4	Graham moved more than half a million pounds to Cracken, which Thieves then stole.
1:34.7	Curtis Ting is managing director of Cracken, and I asked him first what being regulated would
1:39.7	mean for his business. That doesn't affect us much because we already are. We actually hold in our
1:45.4	group two regulatory statuses here in the UK. We actually operate a multilateral trading facility,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.