According to a report, published by Center for Strategic and International Studies (CSIS), the annual damage to economy caused by cybercrime is $375-$575 billion, exceeding the actual GDP of many countries. Among different types of cybercrimes, internet scams hold a special place. While most cybercrime types employ technical methods (hacking computers, intercepting data, etc.), scamming is done through psychological and intellectual methods, namely, via the abuse of trust, when people themselves choose to transfer funds to perpetrators. Numerous methods for technical protection against a range of cyber threats already exist and continue to develop (for instance, anti-virus software); however, there's only one effective protection method that works against the Internet scam – always being on the lookout.
CryptoPolice is a platform that brings together the community in order to fight against online fraud, in other words, to act as an anti-virus against scam. Any user can report any suspicious action to CryptoPolice. Afterwards an officer reviews the report and delivers a verdict, which subsequently undergoes a multi-level verification process by other officers. Factual data that have been verified and confirmed are stored in the archive, which forms the basis for the scam notification system “Watchdog”, helping protect users online.
The goal is to bring together community and technology in order to secure online users against fraud.