Investment scams are often conducted over the phone or online and increasingly via social media such as Facebook or Instagram.
Investment scams can result in people losing thousands of pounds for non-existent investment opportunities such as stocks & shares, wine or art investments, carbon trading or cryptocurrencies.
There has been a huge increase in cryptocurrency scams where the entities and persons coordinating the scams are all based abroad and there is no way to take enforcement action or recover any funds. We have also seen an increase in reports where people are engaged by scammers on dating sites and introduced to ‘investments scams’ during a ‘relationship’. Average losses are very high and in some cases people lose their whole life savings and pensions.
Please be very cautious in investing any money and take advice from a legitimate and trusted financial advisor prior to parting with any money. Often a little research online can result in finding out which are genuine investments and which are scams.
For further information about investment fraud please take a look at the Action Fraud website:
https://www.actionfraud.police.uk/a-z-of-fraud-category/financial-investment
Please remember to report to Action Fraud 0300 123 2040 https://www.actionfraud.police.uk/reporting-fraud-and-cyber-crime if you have actually been the victim of a scam or fraud.
Call Citizens Advice Consumer Helpline 0808 223 1133 or visit https://www.citizensadvice.org.uk/ to report a scam or if you require further advice in regards to scams or consumer matters.