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.