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Action Fraud warns of 'get rich quick' scams occuring on social media and over the phone.
Action Fraud is warning the public about fraudsters advertising ‘get rich quick’ investments to scam people out of money.
The latest statistics from Action Fraud show that in June and July, victims reported losing £2,059,501.29to cryptocurrency scams – an average of £10,095.59 per person. In the same period, 203 reports of this type of fraud were made to Action Fraud.
How is this happening?
Fraudsters are cold calling victims and using social media platforms to advertise ‘get rich quick’ investments in mining and trading in cryptocurrencies.
Fraudsters will convince victims to sign up to cryptocurrency investment websites and to part with their personal details such as credit card details and driving licences to open a trading account. The victim will then make an initial minimum deposit, after which the fraudster will call them to persuade them to invest again in order to achieve a greater profit.
In some cases, victims have realised that they have been defrauded, but only after the website has been deactivated and the suspects can no longer be contacted.
Don’t assume it’s real – professional-looking websites, adverts or social media posts don’t always mean that an investment opportunity is genuine. Criminals can use the names of well-known brands or individuals to make their scams appear legitimate.
Every Report Matters – If you have been a victim of fraud or cyber crime, report it to Action Fraud.
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