Investment Scams 📉
Investment scams can occur when you hand over money to seemingly legitimate companies who are ultimately worthless or do not exist. Investment scams are becoming increasingly common and can take a variety of forms, so it's really important you know how to spot them.
The attention around cryptocurrency is growing and scammers are taking this opportunity to offer fake investments that don’t exist or are not worth the money. Fraudsters will use social media and call victims on the phone to convince them to sign up to cryptocurrency websites in order to gain access to their personal details and credit card information.
Cloned Firm Investment Scams 👥
A clone investment scam is when scammers set up fake firms using the name, address and ‘Firm Reference Number’ (FRN) of real companies authorised by the FCA. Once set up, the fraudsters will cold call and contact individuals out of the blue and send sales materials linking to websites and information of legitimate firms to dupe potential investors into thinking they are the real firm when they are not.