Beware of Cryptocurrency Scams

Fraudsters are capitalising on the increasing popularity around cryptocurrency by asking you to move money and offer fake investments.

Keep your money safe:

  • Before making any investment, always research the company and check they are regulated by the FCA.  If they are not, you will have no protection should things go wrong.
  • Never allow anyone to set up a cryptocurrency wallet, upload ID documents or coerce you into making an investment or purchase you are not 100% sure of.
  • Never download software from an unconfirmed source.  It could be used to steal your personal details and take control of your bank accounts.
  • If in doubt, speak with with us. We record and report any suspicious cryptocurrency activities to continue to build awareness and safeguard our clients.

How to avoid falling for these scams

  • Don’t assume it’s authentic – professional-looking websites, adverts or social media posts do not indicate that the investment opportunity is genuine. Criminals will exploit the names of well-known brands and individuals to make the scam appear legitimate.
  • Don’t be rushed or pressured into making an investment – no legitimate person or firm will pressure you into making an investment or committing to something on the spot.
  • Stay in control – take time to do your research. Seek advice from trusted friends, family members or independent professional advice services before making a significant financial decision.
  • Use a financial adviser accredited by the Financial Conduct Authority, as even genuine investment opportunities can be high risk.

What action should you take?

  • Contact us immediately and report it to Action Fraud by calling 0300 123 2040.
  • Visit Take Five and Cyber Aware for more information on how to protect yourself online.
  • Every Report Matters – if you have been a victim of fraud or cybercrime, please report it.

If you think you may have handed over your bank or debit card details to scammers, please contact us immediately.